Construction sector job growth means inventory relief lies ahead

  • Employment growth in the housing, real estate and construction sectors is a sign the single-family market has begun to pick up.
  • Millennials are the reason for a large portion of the job growth, and they will drive the single-family market moving forward.
  • Employment growth in the West will equate to more inventory.

In September, housing-related employment grew at a stronger pace — 3.56 percent — than other job types. According to Trulia, most of this growth was driven by the construction sector, which as a whole saw a 3.55 percent rise in employment.