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Hurricans and Housing
September 21, 2017
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The economic impacts of hurricanes Harvey and Irma are likely to be felt throughout the coming months as repair and restoration activities continue. Florida and Texas constitute 24% of the nation's total single-family building market, and the counties in the disaster-declaration areas make up 14% of national production.
 
The rebuilding efforts will require tens of thousands of additional construction workers, heightening the existing issues regarding access to labor. Estimates from the Bureau of Labor Statistics reveal the number of open, unfilled construction sector jobs increased to 232,000 in July, nearly reaching a post-recession high.
 
Another growing concern is the hurricanes' impact on the cost of building materials, many of which had already increased significantly during the past 18 months. Since the start of 2016, softwood lumber prices have risen 22% and OSB prices are up 33%.
 
–NAHB Chief Economist Robert Dietz

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About GHHBA

GHHBA, a chapter of the National Association of Home Builders, serves licensed builders, associates of the construction industry, and consumers in Marion, Lamar, Forrest, Covington and Perry counties. Our association focuses on formal builder education (MSBOC licensure and CPB certification), informing builders of market news,and giving builders the tools to respond to prospective legislation through our state counterpart, HBAM.

Membership in GHHBA keeps builders accountable to consumers. GHHBA is the name consumers trust when they look for a contractor.