Smoothie King Center
1501 Dave Dixon Dr
New Orleans, LA 701130
November 16, 2021
7pm
Tickets $46 – $370+
Click Here For More Information.
Smoothie King Center
1501 Dave Dixon Dr
New Orleans, LA 701130
November 6, 2021
7pm
Tickets $26 – $270+
Click Here For More Information.
The NAHB Eye on Housing reported an increase in nonfarm payroll employment from July to August this year. Nonfarm payroll employment increased to 31 states in August with 235,000. This was at a slower rate than seen in July with an increase of 1,053,000.
August saw a strong increase on a month-over-month basis in California where 104,300 jobs were created, in Texas 39,300 and New York 23,500 were created. Nineteen of the states and the District of Columbia saw a decline with a loss of 64,100 jobs.
Out of the 48 states which reported construction sector job information, 24 of those states saw an increase in both residential and non-residential construction jobs. Colorado, South Dakota and Utah saw no changes while Nevada added 3,000 construction jobs. There was a 4.4% increase in New Hampshire but a 3.7% in Kansas between July and August.
The construction sector jobs also saw an increase of 2.7% by 193,000 jobs on a year-over-year basis. California again came in at the top with 35,900 construction sector jobs while New York lost the most at 11,700 jobs. In percentage comparisons, Rhode Island had the highest growth at 13.9 which Wyoming at the worst at a decline of 7.7%.
The pandemic has not only changed buyers’ perspectives on what they want in a home but also where they want their home to be located. More and more buyers are searching in the suburbs away from crowded urban areas. Surprisingly the multifamily sector is seeing more new home starts in the suburbs and lower-cost markets.
According to the NAHB’s current Home Building Geography Index (HBGI) multifamily construction saw double-digit percentage gains in suburban areas in the second quarter of 2021. Large metro areas saw a decline in multifamily new starts. Multifamily residential construction rose 14.3% in small metro urban cores and 25.5% in small metro suburban areas while large metro core areas saw a 0.5% decline.
“The trend of construction shifting from high-density metro areas to more affordable regions, which accelerated at the beginning of the pandemic early last year, appears to be continuing,” said NAHB Chairman Chuck Fowke. “Lower land and labor costs, and lower regulatory burdens in suburban and exurban markets make it more appealing to build in these communities. And workers are increasingly flocking to these areas due to expanded teleworking practices and lower housing costs.”
If you are in the market to purchase a home, now is the time. Get in touch with a Realtor in your local community who can help you with the process.
Annual Bayou ClassicMercedes-Benz Superdome
1500 Sugar Bowl
New Orleans, LA 70112
November 27, 2021
4pm
Admission is $16 – $50.
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