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February Construction Wages Grew at the Fastest Rate in 40 Years

Pro Builder

February Construction Wages Grew at the Fastest Rate in 40 Years. Construction firms are strengthening the labor market and working to keep construction projects on track by offering higher compensation for skilled workers. Construction. Mon, 03/07/2022 - 10:25. Labor + Trade Relations. Market Data + Trends.

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How the Skilled Labor Shortage Is Slowing New Home Development

Pro Builder

A lack of skilled construction workers is delaying multifamily projects. 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.

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In the Face of Record-High Lumber Prices, Builders Remain Confident

Pro Builder

But record-high lumber prices continue to affect housing affordability and residential construction, with some builders even having to pause on projects during a time with record low inventory, NAHB Chairman Chuck Fowke told CNBC. . Construction. Read More. . Building Materials. Builders.

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Record-High Lumber Prices Stifle Builders and Housing Affordability

Pro Builder

Record-high lumber prices are threatening to halt the residential construction sector, and in turn, hold back the economy. NAHB continues to request assistance from the White House in requesting domestic lumber producers to ramp up production and end tariffs for Canadian lumber shipments. Construction. Read More. .

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Construction Workforce Development Gets New Funding Boost

Pro Builder

Research by economists at the National Association of Home Builders ( NAHB ) indicates that the home building industry requires almost 2.2 and the Harper Family Foundation—have stepped up recently with major funding for construction workforce development. Fortunately, three organizations—the Lowe’s Foundation, the estate of Herbert V.

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NAHB New Chair to Tackle Regulation and Promote Trades

Pro Builder

NAHB New Chair to Tackle Regulation and Promote Trades. Chuck Fowke named NAHB's new chair; a look at new single-family home inventory. NAHB Housing Policy Briefing. NAHB will work with Congress, the White House, and federal agencies to reduce regulatory barriers and increase housing production. Advertisement.

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Building Material Costs are Top Concern Despite Builder Confidence

Pro Builder

While low existing home inventory, mortgage rates, and a growing number of prospective buyers keep builder confidence up, building material costs threaten affordability and availability. NAHB says home prices will continue to rise through 2021. Construction. Building Material Costs are Top Concern Despite Builder Confidence.