Tag: Eye on Housing
Surge in Home Construction, Lumber Prices
Residential construction is leading the economy, as housing demand remains strong and supply is tight. However, risks remain for the industry, especially regarding the quickly escalating prices for lumber.
Number of Unfilled Construction Jobs Remains High Despite Some Progress
The estimated number of construction jobs open in October was 311,000, down from a September total of 327,000 and April’s post-Great Recession high of 434,000, according to the latest U.S. BLS JOLTS data.
New Single-Family Homes are Getting Smaller
New single-family home size trended lower in the third quarter of 2019, a pattern from recent years that is likely to continue as builders add more entry-level homes into inventory and the custom market levels off, according to NAHB Chief Economist Robert Dietz.
Construction Employment On the Rise Across Most of the Country
The construction industry gained 10,000 jobs in October, according to the latest data from the U.S. Bureau of Labor Statistics. Nearly half of those jobs (4,600) were gained in Florida. New York, meanwhile, lost 3,000 construction jobs last month.
Is Townhouse Construction Ready for a Resurgence?
Townhouse construction was relatively flat in the third quarter of 2019 and may be nearing the end of a recent slowdown, according to an NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design.
Fed Hints at Wait-and-See Approach to 2019 Interest Rates
Federal Reserve officials recently signaled a more data-dependent approach to monetary policy in 2019. NAHB economists forecast a more dovish path for the federal funds rate than many others had predicted earlier this year.
Entry-Level Homes Push Down New Home Size
The size of new single-family homes once again decreased during the third quarter of 2018. New home size has been falling over the last three years as builders add more entry-level home construction into inventory.
Housing Starts Rise in August Amid Ongoing Affordability Concerns
Total housing starts increased 9.2% in August to a seasonally adjusted annual rate of 1.28 million units, according to newly released data from HUD and the Commerce Department.
Shortage of Rough Carpenters Climbs to Record High
Widespread shortages continue to restrain the pace of construction, further driving up construction costs, which largely — for the moment — are being absorbed by the home buyer.
More Builders’ Profits Taking a Hit from Labor Shortages
While the increasing cost of labor is resulting in higher home prices for buyers, a growing number of builders are also feeling the pinch.
