CONTRACTORS INSURANCE TIPS
How Builders and Sub-Contractors Can Take Advantage of the Rises in the Construction Industry
Building Starts Rising
Up til recently, all construction news was bad news. Since November, we have seen some signs of an upturn in the market. These positives signs plus some upsurges in other sectors can help builders and roofers take a more methodical approach to finding business.
National Association of Home Builders (NAHB Survey)
The NAHB has taken the time to create an enormous survey. Based on Building permits, NAHB has been able to create a national picture of the construction market. Its data shows how many permits have been taken out for both single and multifamily housing in each region, state and the major cities in these states.
The information is extensive, but it can also be used by contractors to determine, where to look for work in their area. The best approach would probably be to contact the office that has issued the permits and find out, who is running these building projects. You can access this information at http://www.nahb.org/generic.aspx?sectionID=130&genericContentID=45409 .
The glut of houses on the market has dealt a crushing blow to the construction industry. However, the light at the end of that tunnel can be seen. The important news is that home sales rose by 5% in December, and the inventory of houses dropped from a 7.2 month supply to a 6.2 months inventory in December.
Multiple Housing Units
The year 2011 ended with mixed, but positive results. The bad news is that building starts for structures with over five units dropped by 28%. However, the good news is that the rate of building was up 69% from last year.
Single home start increased by 4.4% in December. This shows a rise in building starts at a time (December) when buyers are not usually thinking about housing. They are more interested in shopping for gifts to go under the Christmas Tree.
More people are starting home businesses. They are now looking to enlarge or design a new home because of the needs for an office, and in many cases large storage space. This bodes well for construction professionals.
President Obama is proposing a major national infrastructure program. Whether or not it will pass is questionable. However, the need for roads, transportation and bridges to heighten our economic competitiveness globally is not.
Sustaining your business in this soft construction era is not any easy task, but it is doable. Adjusting to new ways of looking for work is a national dilemma. Construction workers are faced with the same challenges, and to meet those challenges you must think out of the box to line up work.