New research from the Census Bureau’s Survey of Construction and analysis from the National Association of Home Builders (NAHB) show that the timeline from permit to completion of a new single-family home has decreased from the post-pandemic highs. Estimates in the most recent data from 2025 report that it now takes about 8.8 months on average from start to completion. While this is higher than the 2015 estimate of 7.2 months, the downward trend from the 2023 high of 10.1 months exhibits signs of cooling in supply chain holdups. The…
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Small metros carry weight of homebuilding activity
According to the National Association of Home Builders’ (NAHB) Home Building Geography Index (HBGI), single-family construction declined across nearly all major metros in Q2 2026. The data reported that densely populated metro counties continued their fifth quarter of decline and fell 13.9%. However, the decline was not as steep compared to the previous quarter’s 15.8%. The smaller markets, noted as outlying counties in small metro areas and the microcounty, saw improvements. The outlying counties in small metro areas grew for the first time in a year, posting a reasonable 0.9%…
Read MoreConstruction job openings rise to 326,000 in July
Construction sector jobs increased again in July, according to the Bureau of Labor Statistics Job Openings and Labor Turnover Survey. However, the National Association of Home Builders (NAHB) analysis is skeptical that a majority of the work is in residential construction. The positive is that construction jobs are up more than the previous month, at 326,000 in July compared to the June increase of 298,000. Notably, July’s postings are stronger than last’s year’s numbers of 305,000 jobs. Hiring in July increased from 3.8% to 4.4% and layoffs plateaued at 1.9%, while the…
Read MoreConstruction declines for SFBTR
According to recent analysis from the National Association of Home Builders (NAHB) of the Census Bureau’s Quarterly Starts and Completions by Purpose and Design, construction of single-family build-to-rent (SFBTR) homes declined throughout 2026. Compared to single-family housing construction, SFBTR faces stronger headwinds from the cost of financing, increased multifamily supply and regulatory action. Q2 2026 (15,000) posted an estimated 3,000 fewer starts than Q2 2025 (18,000). NAHB’s analysis pointed out that over the past four quarters, SFBTR construction starts fell by about 16%. “While the market share of SFBFR homes is small,…
Read MoreABC’s Construction Backlog Indicator decreases in July
On Aug. 11, 2026, Associated Builders and Contractors (ABC) reported that its Construction Backlog Indicator fell to 8.0 months in July 2026. The data originates from an ABC member survey conducted from July 20 to Aug. 4. The reading is down 0.8 months from both a month ago and a year ago. “Backlog fell sharply in July and is down to the lowest level since January,” said ABC Chief Economist Anirban Basu. “The data center boom masks the depth of this weakness, as there is a lack of momentum in…
Read MoreJobs-to-permits ratio highlights housing gap
A new analysis from the National Association of Home Builders analyzed the jobs-to-permits ratio. The analysis used net new jobs created in 2024 and measured against housing permits issued in 2023 to gauge the typical time required for permitted units to move through the construction pipeline and reach the market. Using this framework, the analysis revealed that the U.S. economy added approximately 1.8 million net new jobs in 2024 relative to 2023, while total housing permits issued in 2023 reached 1.51 million units. This results in an overall jobs-to-permits ratio…
Read MoreConstruction activity softens
According to the Federal Reserve Bank of Minneapolis’s spring Construction Survey, construction activity has softened in the first months of 2026. Higher material costs and ongoing economic uncertainty are the driving factors, with more than half of respondents, approximately 54%, reporting decreased activity in the industry overall. However, signs point to optimism for the remainder of 2026 within residential construction. Despite tough conditions for some, roughly four in 10 businesses reported hiring more construction workers and increasing hours for existing employees in advance of the busy season. In general, labor…
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