Housing starts decreased 15.4% in May, primarily driven by a drop in multifamily construction, while single-family building also fell amid high interest rates, rising construction costs and labor shortages, according to the National Association of Home Builders. The May reading …
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Builder Confidence Remains Low in June
Builder confidence in the market for newly built single-family homes fell two points to 35 in June amid rising material costs, elevated mortgage rates and continued affordability challenges impacting the housing market, according to the National Association of Home Builders/Wells …
Read More »Residential Building Material Prices Rise in May
Residential construction building materials prices rose in May as energy prices continued to increase, according to the Bureau of Labor Statistics’ Producer Price Index. Prices for residential building materials jumped 4.4% year over year and 0.7% month over month in …
Read More »Regulatory Costs Remain a Major Driver of Home Prices
According to a new study conducted by the National Association of Home Builders (NAHB), regulations at the federal, state and local levels have added $131,734 to the cost of a new single-family home, 26.4% of the average sales price of …
Read More »Mortgage Application Activity Declines in May Amid Rising Rates
Mortgage application activity declined in May as higher mortgage rate continued to impact the market, according to the National Association of Home Builders (NAHB). At the same time, adjustable-rate mortgages (ARM) gained traction. The Mortgage Bankers Association’s (MBA) Market Composite …
Read More »U.S. Economy Adds 172,000 Jobs in May
The U.S. economy added 172,000 jobs in May, marking the third straight month of job gains despite rising inflation and continued economic uncertainty, according to the U.S. Bureau of Labor Statistics. The unemployment rate in the month remained unchanged at …
Read More »OSHA Announces Top Violations, No Citation Increase
Improper fall protection was the most-cited OSHA violation in 2025. OSHA violations carry a financial penalty that the assessed company must pay. Last year, those penalties were $16,550 for each violation, as well as each day an employer fails to …
Read More »Construction Job Openings Up Slightly in April
The number of open positions in the construction sector increased in April according to the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The current level of open jobs is down significantly from three years ago due …
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