Eye On Housing
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 ›
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 ›
Roughly 6.8 percent of single-family homes started in 2017 qualify as tear-down starts, according to NAHB’s latest estimates. This is down from 10.2 percent in 2016, due primarily to the sharp reversal of a 2016 spike in tear-down percentages reported from the western part of the country. The abovementioned results come from special questions appended to the February 2018 survey for the NAHB/Wells Fargo Housing Market… Read More ›
A recent NAHB study identifies eight senior positions at home building companies that are often to nearly always filled by someone with experience in one or more of the construction trades. Average annual compensation (salary and bonus combined) for each of the eight positions is at least $80,000—at least $100,000, if the position is Head/Director or above of one of… Read More ›
According to the Census Bureau’s Survey of Construction, the share of new homes started with 5,000 square feet or more of living space stood at 3.1% in 2016, down from 3.9 percent in 2015. The total number of 5,000+ square-foot homes started in absolute terms was 24,000, down from 28,000 in 2015. In 2015, the number of 5,000+ square feet… Read More ›
According to data from the Census Bureau’s Survey of Construction (SOC), vinyl (including vinyl-covered aluminum) was the most common primary exterior wall material on new single-family homes started in 2016 nationwide (27.2 percent), followed by stucco (24.4 percent), brick or brick veneer (21.8 percent), and fiber cement siding (such as Hardiplank or Hardiboard) (20 percent). Wood or wood products accounted… Read More ›
According to recently released data from the Annual Survey of Entrepreneurs (ASE), 61.3 percent of American construction firms are profitable commercial enterprises. The differences between construction and businesses in other industries in this regard are relatively minor. As Exhibit 1 shows, the shares of construction businesses recording positive profits, breaking even, and sustaining losses are all within 1.2 percentage points of the averages across all U.S. industries. The… Read More ›
Roughly 10.2% of single-family homes started in 2016 qualify as tear-down starts, up from 7.7% in 2015, according to the latest estimates from NAHB. As defined here, a tear-down start means a home built on a site where a previous structure or evidence of a previous structure was present before the new home was started, as reported by the new home’s… Read More ›
Rising wages and moderating home prices offset a rise in mortgage interest rates to give housing affordability a slight boost in the first quarter of 2017, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). In all, 60.3 percent of new and existing homes sold between the beginning of January and end of March were affordable… Read More ›
Findings from the recently released Remodelers’ Cost of Doing Business Study: 2017 Edition show that the net profit margin for the typical residential remodeler increased to 5.3% in 2015, up from 3.0% in 2011. Combining all sources, remodelers reported an average $1.8 million in revenue for 2015, of which $1.3 million (71.1%) went to pay for cost of sales items… Read More ›