Tag Archive for ‘home building’

Housing Starts Decline in March amidst Virus Impacts

According to estimates from the Housing and Urban Development and Commerce Departments, single-family starts began an expected, virus-related decline in March. Construction activity is expected to fall as virus mitigation efforts result in increased unemployment, economic uncertainty and lost business activity. Despite a strong start for 2020 in January and February, the April NAHB/Wells Fargo HMI point to additional construction… Read More ›

Builder Confidence Posts Historic Decline

Reflecting the growing effects of the COVID-19 pandemic, builder confidence in the market for newly-built single-family homes plunged 42 points in April to 30, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The decline in April was the largest single monthly change in the history of the index and marks the lowest builder confidence… Read More ›

Single-Family Permits Were Strong in February

Over the first two months of 2020 – and prior to the impact of the coronavirus, the total number of single-family permits issued year-to-date (YTD) nationwide reached 141,467. On a year-over-year (YoY) basis, this is a 21.8% increase over the February 2019 level of 116,189. Year-to-date ending in February, single-family permits reported growth across the four regions ranging from 27%… Read More ›

Virus Now Impacting Traffic for Nearly All Builders

In the third week of NAHB’s online poll, the coronavirus’s impact on traffic of prospective buyers has become almost ubiquitous.  A full 96 percent of respondents said the virus was having at least some adverse effect on traffic, and 72 percent characterized it as a major adverse effect. This result is based on 256 responses collected online between March 31… Read More ›

Week 2 Poll Shows Impacts of Virus on the Rise

The second week of NAHB’s online poll showed that several of the coronavirus’s impacts on the residential construction industry have become more widespread and severe.  Once again, traffic ranked as the most widespread problem, with 93 percent of respondents saying the coronavirus has had an adverse impact on traffic of prospective buyers. This result is based on 318 responses collected… Read More ›

How Home Building Can Lead a Recovery by Generating Jobs

As the U.S. economy struggles under the burden of the coronavirus pandemic, economists are discussing how a recovery might unfold once social distancing and other measures begin to succeed.  A recent NAHB article illustrates the role home building can play in a recovery by generating jobs. The article published updated estimates of the national economic impact of home building.  The… Read More ›

What States are Most Reliant on Immigrant Construction Workers

Earlier this month, we published a post highlighting a high and rising reliance of construction on immigrant workers. Foreign-born workers now account for almost a quarter of workers in the construction industry, and close to 30% of construction tradesmen. In some states, reliance on foreign-born labor is even more pronounced. Immigrants comprise close to 40% of the construction workforce in… Read More ›