Eye On Housing
A new research paper from NAHB Economics presents the 2010 estimates of residential construction employment by state and Congressional district. Despite significant employment losses that took place in home building during the housing downturn the industry continues to employ a substantial number of workers in most parts of the country. NAHB estimates show that, nationally, close to 3.4 million people… Read More ›
Tag Archive for ‘construction’
Construction Employment Continues to Grow in 2012
The year 2011 was the first year since 2006 for which the overall construction sector added net jobs. And January data from the Job Openings and Labor Turnover Survey (JOLTS) from the Bureau of Labor Statistics indicate that the construction sector continues to expand. For the economy as whole, hiring continues at rates that add net jobs to the economy. The… Read More ›
Starts, Permits Indicate Relative Health of the Multifamily Sector
In February, the (seasonally adjusted) annual rate of starts in buildings with five or more apartments was 233,000, according to the latest release from the Census Bureau’s Manufacturing and Construction Division. This is a 29 percent increase from the January starts rate (which was revised upward slightly) and more than double the starts rate for February 2011. Although a rate of… Read More ›
MPI Points to Continued Improvement in Multifamily Construction
In the fourth quarter of 2011, NAHB’s Multifamily Production Index (MPI) continued to show improvement, increasing for a sixth consecutive quarter. The MPI, which is based on a quarterly survey of multifamily builders and developers, tracks sentiment about construction of new apartments on a scale of 0 to 100. The MPI increased from 47.3 in the third quarter to 48.9 in… Read More ›
AD&C Lending for Home Building Remains Restrictive
A number of economic indicators are pointing to improving days ahead for housing and home building. These include The NAHB/Wells Fargo Housing Market Index reached its highest level since April 2007 The NAHB/Wells Fargo Housing Opportunity Index, a measure of home buying affordability, is at an all time high The NAHB/First American Improving Markets Index now counts 98 metro areas as improving… Read More ›
AD&C Lending for Home Building Remains Restrictive
A number of economic indicators are pointing to improving days ahead for housing and home building. These include The NAHB/Wells Fargo Housing Market Index reached its highest level since April 2007 The NAHB/Wells Fargo Housing Opportunity Index, a measure of home buying affordability, is at an all time high The NAHB/First American Improving Markets Index now counts 98 metro areas as improving… Read More ›
House Prices: the “Priced Out” Effect
NAHB Economics regularly receives requests to evaluate the effects of pending new regulations on housing affordability in local markets where regulatory actions are expected to raise home prices. The NAHB Priced Out Model provides straightforward answers on the issue. The model estimates how many households can qualify for a new home mortgage before and after a house price increase. The… Read More ›
2011 JOLTS Data – First Year Since 2006 for Construction Job Growth
The February release (December 2011 data) of the Job Openings and Labor Turnover Survey (JOLTS) from the Bureau of Labor Statistics (BLS) confirms a prediction we made earlier in the year. 2011 was the first year for the construction sector for which total hires exceeded total job separations since 2006. For the overall economy, total hiring for December 2011 was… Read More ›
Spending on Private Residential Construction Finishes Year on a High Note
According to the Census Bureau, total spending on private residential construction projects increased 0.8% during December. The initial estimate for November was revised measurably lower from an increase of 2% down to an outright decline of 0.3% (due primarily to a sizable downward revision to home improvement spending), while the reported growth rate for October was bumped up to 2.8%…. Read More ›
Construction Hiring Slows While Overall Hiring Increases, per November JOLTS Data
Job Openings and Labor Turnover Survey (JOLTS) data for November from the Bureau of Labor Statistics indicates improving hiring conditions for the overall economy. While total job openings for all non-farm sectors were essentially unchanged at 3.2 million, total hires increased to 4.1 million, which is tied with September of 2011 for the most number of hires since the Fall of 2008. The… Read More ›