Tag Archive for ‘economics’

Crosswinds for Construction Job Openings

The count of open construction jobs declined in May to 299,000 unfilled positions, according to data from the BLS Job Openings and Labor Turnover Survey (JOLTS). The housing market remains hot and requires additional labor, lots and lumber and building materials to add inventory. Overall, hiring in the construction sector remained strong in May, ticking down to a 4.2% rate…. Read More ›

Did the Share of Concrete-Framed Homes Rise in 2020?

Higher prices and limited availability of softwood lumber has been a key issue for housing and the overall inflation situation for the U.S. economy. With this in mind, did higher lumber prices in 2020 result in higher market shares for non-wood framed single-family homes? Wood framing remains the dominant construction method for single-family homes in the U.S., according to NAHB… Read More ›

Home Buyers Want Energy Efficient Windows

Previous posts reported on home buyer preferences for kitchen and bath features, from NAHB’s recent study What Home Buyers Really Want, 2021 Edition.  The same study also asked the panel of 3,247 recent and prospective home buyers to rate a dozen different window types and materials on the following four tier scale: The general window characteristic that home buyers value more… Read More ›

New Home Prices Squeeze Buyers Out at the Low End

Recent Census data, combined with NAHB survey results, illustrate the way in which home buyers in the lower one-fourth of the market have been squeezed entirely out of the market for new construction, and forced to look exclusively in the stock of existing homes—where the inventory of homes available for sale remains in a historically low range (at a 2.5-month… Read More ›

Employment Situation in May: State-Level Analysis

Nonfarm payroll employment increased in 33 states and the District of Columbia in May compared to the previous month while 16 states lost jobs. North Dakota remained unchanged.  According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 559,000 in May, following an upwardly revised increase of 278,000 jobs in April. On a month-over-month basis, employment… Read More ›

Supply Constraints Hold Back May New Home Sales

After notable and expected downward revisions for prior months, May recorded a decline of 5.9% for sales of newly-constructed single family homes, according to estimates from the Census Bureau and HUD. The May seasonally adjusted annual rate (769k) was the lowest in a year, due to builders slowing sales as a consequence of higher material costs and declining availability of… Read More ›

Buyers Insist on Both a Shower & Tub in the Primary Bath

Last Thursday’s post reported on home buyer preferences for kitchen features, from NAHB’s recent study What Home Buyers Really Want, 2021 Edition.  That study also asked the same panel of 3,247 recent and prospective home buyers to rate 18 bathroom features on the same four tier scale: Results show that bathrooms, especially the home’s primary bathroom, tend to be very… Read More ›

NAHB Study Finds Double Sinks & Pantries the Most Popular Kitchen Features

In the recent NAHB study, What Home Buyers Really Want, 2021 Edition, side-by-side double sinks and walk-in pantries ranked as the most popular of 30 listed kitchen features.  This result is based on a comprehensive, nationwide survey of 3,247 recent and prospective home buyers conducted in the summer of 2020. Among other things, the survey asked recent and prospective buyers… Read More ›

Post-Winter Storm Uptick for Sawmill Output in March

The historic climb for lumber prices, combined with delays and higher costs for other building materials, is a significant limiting factor for home building in 2021. Despite a historically diminished level of overall housing inventory and solid demand due to low mortgage interest rates and demographics, new construction has been limited in its ability to add needed supply to the market,… Read More ›