Browse reports prepared by our research team on the construction industry. We use data from the U.S. Census Bureau and the Bureau of Labor Statistics, among other sources, to provide readers with up-to-date data and statistics relevant to the construction industry.
All businesses and economies are built on infrastructure. Networks of roads, rail, bridges, ports, utilities, and more make it possible to provide goods and services across the country. Quality infrastructure helps lower the cost of supplies and transportation, which helps…
While much of the economy has fared better than expected during the COVID-19 pandemic, racial and ethnic minorities have faced enormous challenges over the past two years. Entering the pandemic, non-white households were more likely to be poor and to…
After an extended run of intense competition and high prices in the residential real estate market, 2022 is bringing signs that the market could begin to cool soon. With inflation on the rise and home prices still rising, more buyers…
Today’s real estate market remains highly challenging for many buyers. With a limited supply of homes and a high number of buyers, prices have soared to record heights over the past two years. One of the underlying factors contributing to…
One of the major economic stories in recent months has been rising concerns about inflation. While year-over-year wage growth in the U.S. has reached its fastest rate in decades this year, the benefit of rising wages for most households has…
No household wants to face a pest problem, but over 14 million U.S. households encounter rodents, roaches, or other pests each year, according to the Census Bureau. These pests can trigger a variety of health concerns including asthma and may…
The residential real estate market has been booming during the COVID-19 pandemic, with more buyers looking for homes and competing for unusually low levels of inventory. With new supply desperately needed, the market currently presents enormous opportunities for builders and…
With red-hot demand for residential construction nationwide, many builders are struggling to find the professionals they need to keep up. One recent forecast from a national trade association estimated that an additional 430,000 construction professionals will be needed in the…
The construction industry took a huge hit in 2020 due to pandemic-induced shutdowns and work stoppages. While construction is now booming in many cities across the country due to pent-up demand for new homes and low interest rates, construction employment…
While the potential for trillions of dollars of new infrastructure spending looms on the horizon, America’s construction industry is struggling to even keep pace with current demand for new homes, businesses, roads, and bridges. A shortage of supplies and employees…
More than a year into the COVID-19 pandemic, one of the biggest economic stories has been the red-hot residential real estate market. Housing inventory is at all-time lows, but low interest rates, government stimulus, increased household savings, and a growing…
What Is Preconstruction? Preconstruction is the term used to describe the process leading up to work on any construction job. In this initial planning phase, stakeholders set expectations, scope out the work, and plan a schedule for the project from…
The Great Recession was characterized by stark unemployment, financial ruin, and a stalled housing market. Although the National Bureau of Economic Research declared an official end to the economic downturn in June 2009, the American public would feel the effects…
With President Trump’s Tax Cuts and Jobs Act in effect, living in a high-tax state is now even more expensive than before. Prior to the new law, taxpayers in those states benefited from the ability to deduct the full amount of…