Construction Job Openings Decrease in June
Due to slowing home construction and elevated interest rates, the count of open construction sector jobs shifted lower in June, per the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS). The number of open construction sector jobs shifted notably lower from 366,000 in May to 295,000 in June. The construction job openings rate fell to 3.5% in June, the lowest rate since March 2023.
However, this shift is consistent with a somewhat cooler labor market, which is a positive sign for future inflation readings and the interest rate outlook.
In June, after revisions, the number of open jobs for the overall economy decreased slightly from 8.23 million in May to 8.18 million. This is also smaller than the 9.13 million estimate reported a year ago.
NAHB analysis indicates that this number must fall below 8 million on a sustained basis for the Federal Reserve to feel more comfortable about labor market conditions and their potential impacts on inflation. With estimates near 8 million now, this suggests rate cuts lie in the months ahead if current trends hold.
NAHB Chief Economist Robert Dietz provides more details in this Eye on Housing post.
Latest from NAHBNow
Economics
Jul 22, 2026
Inflation Risks Rise from Renewed Iran WarRenewed hostilities in the Middle East and the end of the ceasefire are placing upward pressure on oil prices, which have risen above $80 a barrel. Rising energy costs are expected to push July inflation higher.
Trends | Land Development
Jul 22, 2026
Lot Sizes for New Homes Remained Near Historic Lows in 2025The median lot size for newly built single-family detached homes edged up slightly in 2025. But the increase was modest and did not alter the broader trend toward more compact neighborhood development.
Latest Economic News
Economics
Jul 21, 2026
Shrinking Lots: Trend Levels Off as Smaller Lots Remain the NormThe long-term shift toward building single-family detached homes on smaller lots appears to have stabilized. According to the latest Survey of Construction (SOC), the share of new homes built on smaller lots remained near record highs in 2025, following more than a decade of steadily shrinking lot sizes.
Economics
Jul 20, 2026
Exterior Material Trends in Single-Family HomesVinyl siding was the most used principle exterior wall material for homes started construction in 2025. This material held just over a quarter share of homes, surpassing stucco for the second time since 2018. The declining share for stucco reflected the slowdown for home building in parts of the Sun Belt.
Economics
Jul 17, 2026
Multifamily Gains Lift Overall Starts Despite Single-Family DeclineStrong multifamily growth pushed overall housing starts higher in June, while single-family production remained sluggish as elevated mortgage rates, rising construction costs and persistent labor shortages continued to weigh on the market.