Articles

The count of open construction jobs increased to 410,000 unfilled positions in October, the highest measure in the history of the Job Openings and Labor Turnover Survey data from the Bureau of Labor Statistics data series (going back to late 2000). Read More

The suburban shift for single-family homebuilding, which was precipitated in large part by the onset of the Covid-19 pandemic last year continues. But new data reveals that higher density markets are making a comeback as well, according to the third quarter edition of the NAHB Home Building Geography Index (HBGI). Read More

The suburban shift for single-family home buying precipitated in large part by the onset of the COVID-19 pandemic last year continues, but new data reveals that higher density markets are making a comeback as well. In contrast, the market share for multifamily construction shows a significant increase in smaller cities and rural areas while the pace of new permits is easing in larger metropolitan markets. Read More

Nearly two out of three U.S. metro areas added construction jobs between October 2020 and October 2021, according to an analysis by the Associated General Contractors of America of government employment data. Association officials noted that the job gains would likely have been larger and more widespread if firms weren’t dealing with the twin challenges of supply chain problems and labor shortages. Read More

“The construction industry needs more than 61,000 new hires every month if we are to keep up with both industry growth and the loss of workers either through retirement or simply leaving the sector for good,” said HBI president and CEO Ed Brady. “From 2022 through 2024, this total represents a need for an additional 2.2 million new hires for construction. That’s a staggering number.” Read More

The Pending Home Sales Index (PHSI) rose 7.5% to 125.2 in October, according to the National Association of Realtors. Year-over-year, signings fell 1.4%. An index of 100 is equal to the level of contract activity in 2001. Read More

Personal income increased $93.4 billion, or 0.5 percent at a monthly rate, while consumer spending increased $214.3 billion, or 1.3 percent, in October. Read More

Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the third quarter of 2021, following an increase of 6.7 percent in the second quarter. Read More

European businesses are seeing some easing in the delays they face getting hold of parts and raw materials, but supply-chain blockages pushed their costs higher, driving them to raise prices at record pace and fueling inflationary pressures, reports the Wall Street Journal. Read More

“A new single-family home built on-site sold for an average of about $392,000 in 2020, or about $309,000 excluding the cost of the underlying land, according to government data. New manufactured homes cost $87,000, not including land. Read More