Author: Eye On Housing

  1. Construction Job Openings Rise in April

    Data from the BLS Job Openings and Labor Turnover Survey (JOLTS) indicate that construction job openings increased in April, consistent with the ongoing challenge of the availability of labor for builders. The estimated number of job openings in the co…

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  2. Consumer Credit Posts Highest Yearly Increase Since July 2017

    The Federal Reserve’s latest G.19 Consumer Credit Report shows rising trends in consumer credit, excluding loans secured by real estate, through April 2019. As of April 30, 2019, consumer credit totaled $4.1 trillion on a seasonally adjusted basis, wit…

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  3. Job Growth Softened in May

    Total nonfarm payroll employment increased by 75,000 in May, while the unemployment rate remained at 3.6%. Residential construction employment increased by 5,200 in May, after a decline of 1,600 jobs in April. The total construction industry (both resi…

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  4. Small City Single-Family Building Growth Slowing

    After several years of steady construction gains, single-family construction in small cities experienced a net deceleration of growth going into 2019. Such areas represent 37% of all single-family construction nationwide. With a population of nearly 95…

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  5. Record Low Birth Rates Suppress Housing Demand

    According to the latest provisional birth report from the Center for Disease Control and Prevention (CDC), the US birth rate fell to its lowest level in 32 years with only 3,788,235 births recorded in 2018. This is 2% down from 2017 and the fourth cons…

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  6. Builders’ Use of Drones Remains Widespread, Mostly for Promotional Photos

    Well over 40 percent of builders continue to use aerial drones, according to special questions on the March 2019 survey for the NAHB/Wells Fargo Housing Market Index (HMI).  The first of these questions asks the single-family builders in the HMI panel …

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  7. Single-Family Market Share Change

    As tracked by the NAHB HBGI, the changing geographic shares of single-family construction across the U.S. reflect the evolution of home building. As can be seen from the above figure, the market share of single-family permits for small city core areas …

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  8. AD&C Loan Volume Expands at Start of 2019

    After a slight dip at the end of 2018, a consequence of rising interest rates, the volume of residential construction loans increased 1.5% during the first quarter of 2019. The fourth quarter decline of 0.2% ended a period of 22 consecutive quarters of…

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  9. Aging Construction Workforce

    NAHB analysis of the most recent 2017 American Community Survey (ACS) data reveals that the median age of construction workers is 42, a year older than a typical worker in the national labor force. Aging construction workers and the ongoing labor short…

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  10. Housing and the Agriculture Industry in the Midwest

    Housing markets in the Midwest have experienced weakness in recent quarters. For example, single-family permits posted a 3.6% decline in year-to-date data when comparing December 2018 level with December 2017 in the Midwest. Single-family permitting fo…

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