2015 has come and gone and 2016 is shaping up to be a good year for the housing industry with a 6% projected growth in single family homes.
The trends for 2016 seem to be continuations of what began in 2015.
1. Skilled Labor Shortage:
Labor shortages for site builders will continue as a significant number of employees that left the housing industry during the recession have never returned and the pool of undocumented immigrants is drying up faster than cheap wet paint.
Modular home builders on the other hand have not seen the impact on their business as their site building peers have thanks to a good pool of skilled factory labor. Score one for modular housing.
2. BIM will become a necessity:
Building Information Modeling has been a growing trend for years, as it is no longer relegated to just the largest firms. Experts have said BIM provides tangible business benefits, no matter the level of implementation. Many have cited BIM's ability to provide more consistent, more accurate and less time-consuming project document generation. In addition, BIM users can expect better collaboration and coordination among the different parties involved in a project, according to industry users.
3. Green Building will grow:
In the residential sector, green building currently accounts for 26-33% of the total residential market and has helped contribute to the industry's recovery after the recession.
The aging in place movement as a driving force for that demand, as baby boomers are remodeling their current homes and seeking out ways to increase energy efficiency and reduce utility bills and new home buyers are opting for solar energy.
4. OSHA will up investigations and fines:
Last year, authorities across the U.S. pumped up efforts to seek out contractor misconduct and dish out severe punishment, including criminal charges, for violations and offenses from worker safety issues to corruption.
Experts predict this heightened focus on industry wrongdoing will continue into 2016, especially as OSHA will increase its fines this year for the first time since 1990.