The National Association of Home Builders (NAHB) reported that the labor market continues to tighten, especially for the construction industry where 2.2 million more workers are needed to keep up with the booming demand for homes amid the labor shortage.
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.
The Dodge Momentum Index fell 4% in November to 171.7 (2000=100) — down from the revised October reading of 178.1. The Momentum Index is a monthly measure of the initial report for nonresidential building projects in planning.
A lack of skilled construction labor is a key limiting factor to expand home construction and improve housing inventory and affordability, according to The HBI Construction Labor Market Report based on research from the National Association of Home Builders.
Construction employment increased by 31,000 jobs between October and November as nonresidential construction firms added workers for the third month in a row, according to an analysis by the Associated General Contractors of America of government data.
The Federal Housing Administration (FHA) announced new loan limits for calendar year 2022 for its Single Family Title II forward and Home Equity Conversion (reverse) Mortgage (HECM) insurance programs.
The Kitchen and Bath Industry Show (KBIS), owned by the National Kitchen and Bath Association, announces the all new KBIS Kickstarter Zone, offering new-to-market residential design and construction brands (less than 3 years) who have not previously exhibited at KBIS, the opportunity to purchase a special introductory exhibit package.
The FCI Installation Awards honor the most creative installers and interesting installations in a range of flooring categories, in both residential and commercial settings.
