While some sectors of the U.S. economy are suffering, others are doing well. One area that is making a comeback from the Covid-19 pandemic is the construction management industry. Residential, commercial, and industrial growth is amazing in several cities and states and is putting thousands back to work.
Of the three types of construction, we want to pinpoint residential housing specifically in Louisiana. Single-family dwellings, apartments, condominiums, duplexes, second homes, and government housing are moving forward to supply another generation of places to live.
The housing growth has a ripple effect for industries related to construction workers, including:
- Lumber mills
- DIY stores
- Real estate agents
- City tax departments
- Wiring and lighting suppliers
- Carpet and flooring stores
- Tool dealers
Many more businesses profit from housing booms and they all help keep America working.
It’s a Nationwide Phenomenon
Here are some national statistics from census.gov about the current housing surge that are encouraging.
New private housing starts and completions as of June 2021 look like this:
|Housing Starts||Housing Completions|
|June starts: 1,643,000||June completions: 1,324,000|
|June starts: 6% more than May||June completions: 1.4% below May|
|June starts: 29% more than June 2020||June completions: 6.5% more than June 2020|
There were 1,598,000 building permits issued for privately-owned housing units in June 2021 which is 23% higher than the June 2020 rate. All these housing projects require thousands of tradespeople and many construction managers. If you want to be part of this housing boom, obtain the right training for a super entry-level job.
The Housing Market Looks Good in Louisiana
Louisiana home sales are up 33.8% from May of 2020 to May of 2021, and the median home sale price is up 6.4% during this same year. Buyer demand has created much competition with 17.4% of homes selling above their listing prices.
The median listing price of single-family homes in Louisiana is a reasonable $161,800. This represents a good mix of existing houses and newly constructed ones.
Trickling down to the state of Louisiana, there are 99 home-building companies currently working in 188 communities throughout the state. Here are some select cities:
New Homes in Louisiana Markets
Most Common Housing Types
What comes to mind when you think about housing? Architectural trends come and go in the U.S. Popular styles change with every generation and what was popular sixty to seventy years ago is considered retro chic. Here are the most popular styles of homes as of March 2021:
“One area that is making a comeback from the Covid-19 pandemic is the construction industry. Residential, commercial, and industrial growth is amazing in several cities and states and is putting thousands back to work.”
- Bungalow/Craftsmanand Cape Cod
- Colonial and Contemporary
- English Tudor and European
- Mediterranean and Mid-Century Modern
- Log and Prairie
- Ranch and Tiny Homes
- Tudor, Queen Anne, and Victorian
If working with these styles of homes sounds interesting to you, consider a career in Construction Management.
The Future of the Housing Market and Construction Managers
What’s in store for the U.S. housing market for the next two years? Here are some factors that point to continued heavy demand for new and current housing:
- Low mortgage interest rates
- Housing shortage in many areas
- Population increase
- Work-from-home jobs
- New generation of buyers
Millennials especially are driving the housing demand and retirees are moving to warmer climates. All this is good news for construction managers who should discover many jobs in the future.
Your Career Starts with an Associate Degree in Construction Management
The way to launch a career in Construction Management is by earning an Associate Degree. An AOS degree will put you in a position to find a viable entry-level job in this industry. Check out ITI Technical College’s Associate in Occupational Studies (AOS) Degree in our Construction Management Program. Once earned, you will be on a life-long journey to a better life.
For more information about graduation rates, the median debt of students who completed the program, and other important information, please visit our website: https://iticollege.edu/disclosures.htm
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