Residential Building Worker Wages on the Rise
Average hourly earnings for residential building workers continue to rise as the construction labor market remains tight. According to the Bureau of Labor Statistics (BLS), average hourly earnings for residential building workers was $28.66 in February 2022, increasing 6% from $27.01 a year ago.
Earnings for residential building workers have increased significantly since the COVID-19 pandemic recession. Between December 2019 and December 2021, average hourly earnings increased about 12%.
Jing Fu, NAHB director of forecasting and analysis, provides more in this Eye on Housing post.
Latest from NAHBNow
Labor
Dec 09, 2025
Construction Labor Market StableThe count of open, unfilled positions in the construction industry was relatively unchanged in October, per the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The current level of open jobs is down measurably from two years ago due to declines in construction activity, particularly in housing.
Financing
Dec 09, 2025
Mortgage Rates Hit Lowest Level in Over a YearThe average mortgage rate continued to trend lower in November to its lowest level in over a year. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.24% in November, 2 basis points (bps) lower than in October.
Latest Economic News
Economics
Dec 08, 2025
Community Associations: A Growing Trend in 2024In 2024, 65.7% of all new single-family homes started were built within a community or homeowner’s association. This share increased from the 64.8% recorded in 2023, according to data tabulated from the Census Bureau’s Survey of Construction (SOC).
Economics
Dec 05, 2025
Mortgage Rates Continue to Trend Lower in NovemberThe average mortgage rate in November continued to trend lower to its lowest level in over a year. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.24% in November, 2 basis points (bps) lower than in October. Meanwhile, the 15-year rate increased 3 bps to 5.51%.
Economics
Dec 04, 2025
Number of Bathrooms in New Single-Family Homes in 2024Single-family homes started in 2024 typically had two full bathrooms, according to the U.S. Census Bureau’s Annual Survey of Construction. Homes with three full bathrooms continued to have the second largest share of starts at around 23%. Meanwhile, both homes with four full bathrooms or more and homes with one bathroom or less made up under ten percent of homes started.