Housing and Construction Statistics Basics

Get a handle on construction industry statistics to boost your business

Housing and construction statistics yield important information for business decision-makers. Economists quote U.S. construction statistics, particularly housing statistics, as a key to how well the economy is doing. Housing starts are considered one of ten important leading indicators that the U.S. government uses to predict economic activity six to nine months in the future.

Investors, builders and other business owners rely on other kinds of construction industry statistics to gauge the health of a local economy, such as commercial construction statistics showing the number of office buildings constructed in a given area, for example. Other data gives more specific information such as the types of buildings constructed or materials used. Subcontractors rely on house building statistics to find individual jobs for builders or upcoming public projects.

Here are some ways to make effective use of construction industry statistics.

1. Get familiar with housing and construction statistics basics by reading the reports on a regular basis.

2. Use statistics on home construction to find out who are the top builders, what they're building, where they're building and why.

3. Refer to commercial construction statistics before planning a major business relocation.

 

Use home construction stats to help your business run effectively

Statistics on housing construction help paint an accurate picture of the health of the U.S. economy. Homebuilder statistics can also be a goldmine of information for contractors looking for building opportunities or suppliers projecting their orders for the coming year.
Try: McGraw Hill Construction gives statistics as well as projections for future building activity. Weblinks gives you quick access to housing construction statistics, including government statistics and state-by state links.

Get leads on commercial projects through construction stats

While you're waiting for the phone to ring with your next commercial building job, why not research the leads yourself through the many resources available for the trades? Commercial construction statistics can alert you to potential jobs that are available for bidding and help get you up to speed on building codes and practices as well.
Try: Reed Construction Data can help you find construction project leads in your area. A Constructionwire subscription can aid you in the bidding process for public projects.

Consult construction industry statistics to help your company grow

International companies use construction statistics when researching potential building sites around the world. These valuable statistics allows businesses to expand their operations in areas favorable to business.
Try: Market Research offers paid access to reports with building statistics you can use to grow your business. Site Selection offers a snapshot of potential building sites as well as world construction statistics.

 

• Local housing statistics can also be useful, such as the real estate transfers that are listed in the local newspapers, which can tell you the average selling price for real estate.

Copyright © 2011 Business.com, Inc. All Rights Reserved.

---