According to New York Fed data, homeowners are more likely to tap into Home Equity Lines of Credit (HELOC). In Q1 2026, HELOC balances rose by $12 billion, increasing the total to $446 billion. Around 43% of Americans renovated their home in the last year and another 33% plan to renovate in the next year. Tapping into this equity allows homeowners to complete necessary renovations such as roof replacements or increase the value of homes with kitchen and bath remodels. This demand continues to debt limits which increased 1.4%. “Homeowners who…
Read MoreCategory: Economy
Existing home sales rise
New data from April 2026 reported existing-home sales increased by 0.2%. While a slight increase, this rebound from March’s nine-month low exhibits signs of a balancing market. The average sales price of existing homes increased 0.9% from the previous year at $417,700. Regionally, the Midwest and South saw the most increase at +2.2% and +0.5% respectively. The Northeast remained unchanged while the West fell 2.6%. The percent of first-time homebuyers are also up, at 33%. “Despite mixed macroeconomic signals—including a record-high stock market and historically low consumer confidence—home sales were…
Read MoreConstruction jobs see growth since February
According to the newly released U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS), jobs in the construction industry had 224,000 openings in March. This is a significant increase to the reported slow February numbers of 2001,000. JOLTS includes all positions that are open on the last business day of the month. Overall in March the total number of job openings was relatively unchanged at 6.9 million. Compared to the same time last year, jobs in the construction industry is down 54,000 jobs. “Construction industry hiring rebounded from February’s…
Read MoreSenate passes major housing affordability bill
On March 12, 2026, the Senate passed a bill aimed at boosting the supply of housing and bringing down prices. The 21st Century ROAD to Housing Act, written by Sens. Tim Scott, R-S.C., and Elizabeth Warren, D-Mass., won 89 votes. The 303-page legislation creates a series of grants and pilot programs for housing construction. Another key section titled “Homes Are For People, Not Corporations,” prohibits large institutional investors from purchasing certain single-family homes, as a way to promote homeownership opportunities for families rather than corporations. “It will mean, for the…
Read MoreConstruction layoffs and quits decline
The Job Openings and Labor Turnover Survey (JOLTS) program of the Bureau of Labor Statistics (BLS) released its January data last week. During the month, the layoff rate for construction jobs declined to 1.0 %, the quits rate followed with a decrease to 1.7%. The industry remained relatively plateaued compared to a year ago. However, flat is undeniably better than falling. With the spring season kicking in, openings should increase across the nation and especially in the northeast. While in the overall economy the open jobs reportedly increased from from…
Read MoreConstruction employment stalls in December
A recently released report from the Associated General Contractors of America (AGC) reported that construction job growth was limited in an estimated more than half of all metro areas. Their report cites that construction employment throughout 2025 remained stable in only 55 metro areas and declined in 129 metro areas. The largest construction employment losses were in the Las Vegas (-11 percent), New York City (-8 percent) and Riverside ( -7 percent). While the largest increase was in Washington (12 percent), Kansas City (9 percent) and Arlington ( 6 percent).…
Read MoreWhat’s limiting American construction productivity
The downward trend of productivity falling in the U.S. construction industry fell 30% between 1970 and 2024, while overall labor productivity more than doubled. A report from leading investment banking, securities, and asset and wealth management firm Goldman Sachs explains why the U.S. construction industry is trailing behind countries’ construction industries. One reason Goldman Sachs attributes to the trend is the limited gains in industry innovation. They cited that most construction materials and tools first originated in the 1950s. The industry has yet to fully take advantage of recent technologies…
Read MoreWhen will housing prices drop?
New data from Realtor.com shows the U.S. housing market is cooling, with homes staying on the market longer and prices softening in many areas. In November 2025, the typical home spent 64 days for sale, three days longer than a year earlier and nine days longer than in 2022. Price trends vary by location, but nationally there are clear signs of easing: annual price declines were recorded in 28 of the 50 largest metro areas, while six others saw flat prices. The U.S. Census Bureau reports the median home price…
Read MoreStable Construction Labor Market
Analysis from the National Association of Home Builders (NAHB) shows that the construction labor market remained relatively unchanged through October. This information originates from the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). However, the current level of open jobs is down measurably from two years ago. This decline aligns with the decrease in residential construction activity. While majorly unchanged the labor market was at 7.67 million in October compared 7.66 million the month prior. There is some notice that Federal Reserve’s decision to reduce interest rate…
Read More2026 U.S. Labor Market Outlook
New data from HireQuest indicates that the 2026 labor market is moving toward stability after several years of rapid swings in hiring trends. Survey results from more than 400 offices show that time-to-fill rates have largely steadied, job applications remain consistent and employers are leaning more heavily on flexible hiring models like contract and fractional roles. The market is shifting toward skill-based hiring, with companies emphasizing flexibility, job fit and roles that cannot be automated. Trends such as reshoring, easing tariffs and advancements in AI-driven recruiting are also influencing demand,…
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