Articles
U.S. Homebuilding Lags, Remodeling Picks Up the Slack
The Center’s Remodeling Futures Program finds that, as homebuilding struggled to meet the nation’s growing housing needs, spending on improvements and repairs to both owner-occupied and rental properties hit a record of nearly $425 billion in 2017. Read More
Construction employment rose by 280,000 in 2018
“Demand for construction remains strong across most project types and locations,” said Ken Simonson, the association’s chief economist. “Job growth and pay increases in construction are outpacing those in the overall economy. But contractors continue to have difficulty finding qualified workers with the number of unemployed workers who have construction experience at the lowest December level in 19 years.” Read More
Lower interest rates boost Builder Sentiment
"Ongoing reduction in mortgage rates in recent weeks coupled with continued strength in the job market are helping to fuel builder sentiment," said NAHB chairman Randy Noel, a custom home builder from LaPlace, La. "In the aftermath of the fall slowdown, many builders are reporting positive expectations for the spring selling season." Read More