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Single-Family Built-for-Rent Inventory Jumps 50% From 2019

Pro Builder

Single-Family Built-for-Rent Inventory Jumps 50% From 2019. According to NAHB’s analysis of the Census Bureau’s data on quarterly starts and completions, roughly 12,000 single-family built-for-rent homes began construction at the end of 2020’s fourth quarter. cbroderick. Fri, 02/19/2021 - 09:43. Read More. . Built for Rent.

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How the Skilled Labor Shortage Is Slowing New Home Development

Pro Builder

A national shortage of skilled construction labor is prolonging a housing crisis defined by low inventory and affordability. The NAHB is estimating that 740,000 workers will need to be hired each year for the next three years to keep up with market demand. percent in 2020. The HBI report offers a number of other key findings.

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Forbes Reports Record-Breaking Year for the U.S. Housing Market

Pro Builder

Though housing demand will likely remain high into 2022, more inventory and low interest rates could create a more balanced market, according to Forbes Business Council. As of December 2020, there was only a 1.9-month To combat this shortage, Freddie Mac estimated the market would need to add another 2.5 month supply of homes.

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Fed Economist Forecasts Uptick in Single-Family Construction

Pro Builder

Rebounding construction could lead to supply constraints as well as exacerbate an existing shortage of skilled labor, construction materials, and ready-to-build lots, though long-term inventory growth is necessary to resolve an ever-widening housing affordability crisis. .

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How Long Did It Take to Be a Home Owner in 2021?

Pro Builder

in the second quarter of 2020, up from 64.1% Record housing price appreciation and low inventory is dominating news about the real estate market, but the latest U.S. in the second quarter of 2020, up from 64.1% We also consider the estimated time to homeownership in the 15 largest U.S. from a year before.

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Construction Job Openings Are Rising, but for How Much Longer?

Pro Builder

The recent trend of these estimates points to the construction labor market having peaked in 2022 and is now entering a stop-start cooling stage as the housing market adjusts to higher interest rates. The post-virus peak rate of hiring occurred in May 2020 (10.4%) as a post-covid rebound took hold in home building and remodeling.

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Job Openings Are Falling as the Labor Market Slows

Pro Builder

The count of open construction jobs rose from 353,000 in July to 407,000 in August, which, despite slowing housing data, is actually higher than the 362,000 estimate from a year ago. In April 2020, the layoff rate was 10.8%. Despite slowing of building activity, construction sector layoffs remained low at a 1.6% rate in August.

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