Lucas Group Reports Employment Strong during Market Shift for Residential Construction

Lucas Group, an executive search firm, reports employment in the homebuilding industry remains strong while the market slows and shifts into a buyerís market at the 2006 PCBC show in California.

After a record breaking two years in homebuilding, market conditions are returning to normal, said Tim Morrissey, executive senior partner and construction recruiter for Lucas Groupís Irvine office. New home builders are offering incentives and discounts, which has not been necessary in recent years. And, with higher interest rates and less demand, prices for homes will be declining.

Although the market is slowing, Baby Boomer retirement will heavily affect the future of the homebuilding industry. According to Impending Crisis; Too Many Jobs, Too Few People, projections estimate in 2010, there will be 10,000,000 more jobs than people. With baby boomers retiring, there will be a high demand for Active Adult Communities. Combined with housing demands for generations X and Y, long-term forecasts for residential construction are excellent.

While there are pockets of the market that are soft, it is only temporary, said Morrissey. By late 2007, the market should shift back to steady growth forecast. Demand for good talent is still strong.The greatest need now in the market is for project managers dealing with entitlement and development issues. Homebuilders also have a great need for vertical superintendents and purchasing agents.