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Wednesday October 4, 2023

THE MINNESOTA HOUSING INDUSTRY NEWS SOURCE BY HOUSING FIRST MINNESOTA

Tag: Labor Shortage

  • Construction labor shortage continues even as wages increase

    Construction labor shortage continues even as wages increase

    Despite Minnesota construction wages being up 8.9% from last year, the Minnesota Department of Employment and Economic Development (DEED) reported in September that the state is down 1,568 construction jobs from a year ago. Although construction employment in the U.S. is up 4% overall, Minnesota doesn’t seem to be following the same trend line. Brian… Read More

  • Not all housing markets are the same

    Not all housing markets are the same

    As mortgage rates hurdled over 6% in September, the highest level on record since the Great Recession, buyers are starting to become more hesitant during their home search. Many buyers are even being completely priced out of the market. Concerns over rising interest rates, delays in project timelines, rising construction costs, labor shortages and other… Read More

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