According to data from the Census Bureau’s Survey of Construction (SOC), the custom home share declined to 19.5 percent of all single-family homes started in 2018—lowest since mid-2000. Contractor-built or owner-built houses – that together make up the custom home market – are built one at a time for owner occupancy on owner’s land with either the owner or a… Read More ›
Tag Archive for ‘construction’
Builders’ and Remodelers’ Use of Technology in 2019
According to a recent NAHB study, although use of some factory-produced components like trusses has become widespread, the newer and more innovative types of construction technology, such as 3D printing and robots, have so far penetrated the residential market only to a very limited extent. This is true for both single-family builders and residential remodelers. Data on use of technology… Read More ›
Most Common Siding On New Homes are Vinyl and Stucco in 2018
According to the data from the Census Bureau’s Survey of Construction (SOC) the most common exterior wall materials on homes started in 2018 were vinyl siding and stucco. Vinyl siding and Stucco (26 percent each) were used on new homes started in 2018, brick or brick veneer (21 percent), and fiber cement siding (such as Hardiplank or Hardiboard) (20 percent). Far smaller shares… Read More ›
Highest Paid Occupations in Construction in 2018
According to the 2018 Bureau of Labor Statistics Occupational Employment Statistics (OES) Survey data and analysis by the National Association of Home Builders (NAHB), half of payroll workers in construction earn more than $47,290 and the top 25% make at least $66,290. In comparison, the U.S. median wage is $38,640, while the top quartile (top 25%) makes at least $62,510…. Read More ›
Labor Shortages Still Hurting Affordability
Labor and subcontractor shortages remained widespread in July of 2019 and are continuing to impact the industry in a number of ways—including putting additional upward pressure on new home prices— according to results from special questions on the survey for the NAHB/Well Fargo Housing Market Index (HMI). In July, the HMI survey asked builders specifically about shortages in 16 different occupations. … Read More ›
HBGI Shows Multifamily Gains in Small Towns and Rural Areas
NAHB analysis of multifamily construction permits over the last four quarters indicates relatively higher growth rates in less populated areas. A prior post reviewed the newly released Home Building Geography Index (HBGI) through the perspective of single-family permit activity. This post examines multifamily construction as classified into the seven HBGI regional geographies, as differentiated by urban density. Economic theory suggests… Read More ›
Top Challenges for Builders: Materials in 2018, Labor in 2019
Building material prices topped the list of problems builders faced in 2018, but cost and availability of labor is expected to return to the number one spot in 2019, according to special questions on the January survey for the NAHB/Wells Fargo Housing Market Index. The survey results showed that material prices were a significant issue for 87% of builders last… Read More ›
Vinyl and Stucco are the Most Common Siding On New Homes
The most common exterior wall materials on homes started in 2017 were vinyl and stucco siding. Vinyl siding was used on 27 percent of the new homes started in 2017, followed closely by stucco (25 percent), brick or brick veneer (21 percent), and fiber cement siding (such as Hardiplank or Hardiboard) (20 percent). Far smaller shares of single-family homes started last… Read More ›
Highest Paid Occupations in Construction
According to the most recent release of the Occupational Employment Statistics (OES) by the Bureau of Labor Statistics (BLS), half of payroll workers in construction earn more than $45,820. In comparison, the US median wage is below $37,700. The OES publishes wages for close to 380 occupations in construction. Out of these, only 54 are construction trades. The other industry… Read More ›
NAHB Releases New Home Building Employment Estimates by State
The new NAHB study presents the most recent and comprehensive estimates of home building employment, including self-employed workers, by state. NAHB Economics estimates that out of 9.8 million people working in construction in 2016, more than 3.8 million people worked in residential construction, accounting for 2.5% of the US employed civilian labor force. These numbers reflect modest but steady job… Read More ›