National Association of Home Builders

Washington, DC 20005

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Forty-three states and District of Columbia experienced positive year-over-year changes in construction employment in February.
Construction Employment Growing Faster in Coastal Regions
Doubled Building-Permit Approval Time Stalling Homebuilders
The number of home builders citing cost/availability of labor as an issue has steadily increased since 2013 and is nearly four times higher than it was in 2012.
Home Builders Cite Cost, Availability of Labor and Lots as Top Problems for 2016
The pace of hiring for the residential construction industry had been slowing over the course of 2015. With the recent jumps however, the six-month average of monthly employment growth is now a robust 18,000. Residential construction employment now stands at 2.571 million, broken down as 716,000 builders and 1.855 million residential specialty trade contractors.
Unfilled Construction Jobs Jumped by 69,000 Openings in December
Total US housing starts in December, at 1.15 million units, were down 2.5%, but starts over the entire fourth-quarter 2015 were 7.4% above Q4 2014. Permits were down in December, too, 3.9%. But there were 12.3% more permits issued in Q4 2015 than in the same quarter of 2014.
Housing Starts, Permits End 2015 Up More Than 10%
Over the last 12 months home builders and remodelers have added 137,000 jobs on a net basis. Since the low point of industry employment following the Great Recession, residential construction has gained 547,700 positions.
Hiring in Homebuilding Sector Accelerates
Annually, the pace of multifamily is up 25% from the October 2014 estimate, and spending on single-family construction was 9% higher.
Single-family Residential Construction Spending Up, Multifamily Spending Decreases
The construction sector hiring rate increased to 5%, hovering at rates set in the spring of 2015. The quits rate for construction fell to 1.4%.
Residential Construction Employment Growth Kicked into High Gear in November
Single-family U.S. housing starts are expected to total 719,000 in 2015, and grow 27% next year to 914,000. Even if that ambitious growth projection is realized, the 2016 total would still be 47% less than the 1.34 million starts that is considered a normal level of U.S. single-family housing production.
Construction Industry Economists Predict Continued Industry Growth in 2016
On a month-over-month basis, private single-family spending was $222 billion, up by 1.3% over the revised August estimate. Private multifamily spending increased to $57 billion, up by 5%.
Residential Construction Spending Continues to Rise on Multifamily Construction Strength
Annually, multifamily spending rose 25% from the revised August 2014 estimate, and spending on single-family construction was 14% higher.
Residential Construction Spending Up in August
Builders’ confidence increased substantially from the all-time trough of 8 in January 2009 when even small positive movements in consumer interest were greeted with renewed confidence. Since 2012, builders’ confidence has more closely aligned with single-family starts as was the case throughout the history of the index.
Single Family Market Builder Confidence Hits 10 Year High
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