Tag Archive for ‘home building’

Northeast Region Posts Growth in Single-Family Permits in August

Over the first eight months of 2019, the total number of single-family permits issued year-to-date (YTD) nationwide reached 576,798. On a year-over-year (YoY) basis, this is a 3.7% decline over the August 2018 level of 599,117. Year-to-date ending in August, single-family permits reported declines in three out of the four regions. Northeast was the only region to post a growth… Read More ›

Framing Methods for Single-Family Homes: 2018

Wood framing remains the most dominant construction method for single-family homes in the U.S., according to NAHB analysis of Census Bureau data. For 2018 completions, 93% of new homes were wood-framed. Another 7% were concrete homes, and less than half a percent were steel-framed. These shares have remained fairly stable over the last five years. In absolute terms, 778,000 single-family… Read More ›

Construction Job Openings Steady

Data from the BLS Job Openings and Labor Turnover Survey (JOLTS) indicate that construction job openings increased in August. The estimated number of job openings in the construction sector increased to 379,000 after reaching a post-Great Recession high of 434,000 in April. The August 2019 count of unfilled jobs represents a year-over-year gain relative to the 315,000 estimated unfilled construction jobs… 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 ›

Rebounding Continues in August in New Home Sales

Contracts for new, single-family home sales increased in August by 7.1% to a 713,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. The increase came off a upwardly revised July estimate, which was increased from an initial reading of 635,000 to a new estimate of 666,000. Year-over-year, the August estimate is 18.0% higher. Sales continue… Read More ›

Fed Lowers Rates in September

The Federal Reserve reduced the key, short-term federal funds rate by 25 basis points to a top rate of 2% at the conclusion of its September Federal Open Market Committee (FOMC) meeting. This was the second cut in 2019, partially reversing a set of increases enacted in 2018. The more dovish stance of the Fed is good for housing and… Read More ›

Housing Starts Rebound in August

Total housing starts posted a 12.3 percent increase in August (1.364 million units) compared to an upwardly revised July estimate of 1.215 million units, according to the joint data release from the Census Bureau and HUD. Relative to August 2018, total starts are 6.6 percent above the annual pace of 1.279 million units. Single-family production in August posted a monthly… Read More ›

Single-Family Permits Decline in July

Over the first seven months of 2019, the total number of single-family permits issued year-to-date (YTD) nationwide reached 496,726. On a year-over-year (YoY) basis, this is a 4.7% decline over the July 2018 level of 521,438. Year-to-date ending in July, single-family permits reported declines in all four regions. The Midwest, Northeast, South, and the West declined by 8.7%, 1.6%, 2.8%,… Read More ›

Share of New Homes with Fireplaces

Only 41 percent of single-family homes started in 2018 included fireplaces, according to NAHB tabulation of recently released data from the Survey of Construction (produced by the U.S. Census Bureau with partial funding from HUD).  This percentage is the lowest on record since NAHB began tabulating the data in a consistent fashion in 2001.  Since 2015, the share of single-family… Read More ›

Construction Job Openings Up in July

Data from the BLS Job Openings and Labor Turnover Survey (JOLTS) indicate that construction job openings increased in July, after a declines off a cycle high count for April. The estimated number of job openings in the construction sector increased to 373,000 in July after reaching a post-Great Recession high of 434,000 in April. The July 2019 count of unfilled jobs… Read More ›