Local HBAs tackle labor shortage; Architects see more amenities and size; CPWR snapshot of construction industry profiles an older workforce; Detroit joins the company of Turnaround Towns
Woodside Homes took its “act private, look public” mantra to the next level by closing a bond offering that netted more capital for the Salt Lake City, Utah-based company than did recent IPOs for some home builders.
Following four consecutive months of improvement, builder confidence in the market for newly built, single-family homes held unchanged in September with a reading of 58 on the Housing Market Index.
A shortage of buildable lots, especially in the most desirable locations, has emerged as one of the key factors holding back a more robust housing recovery, according to a recent survey by the National Association of Home Builders.
Sales of newly built, single-family homes declined 13.4 percent to a seasonally adjusted annual rate of 394,000 units in July as higher mortgage rates prompted a temporary pause in buying activity.
Double-digit revenue growth for these home builders during the recovery started with pre-planning, re-examination, and retrenching during the recession.
The unemployment rate in the construction sector in May was the lowest it has been in five years, which could signal a coming worker shortage, according to the Associated General Contractors of America.