NAICS Code 23611 - Residential Building Construction

NAICS 23611 - Residential Building Construction

NAICS 23 - Construction
NAICS 11 - Sector 11--Agriculture, Forestry, Fishing and Hunting NAICS 21 - Sector 21--Mining NAICS 22 - Sector 22--Utilities NAICS 23 - Sector 23--Construction NAICS 31 - Sector 31-33--Manufacturing NAICS 42 - Sector 42--Wholesale Trade NAICS 44 - Sector 44-45--Retail Trade NAICS 48 - Sector 48-49--Transportation and Warehousing NAICS 51 - Sector 51--Information NAICS 52 - Sector 52--Finance and Insurance NAICS 53 - Sector 53--Real Estate and Rental and Leasing NAICS 54 - Sector 54--Professional, Scientific, and Technical Services NAICS 55 - Sector 55--Management of Companies and Enterprises NAICS 56 - Sector 56--Administrative and Support and Waste Management and Remediation Services NAICS 61 - Sector 61--Educational Services NAICS 62 - Sector 62--Health Care and Social Assistance NAICS 71 - Sector 71--Arts, Entertainment, and Recreation NAICS 72 - Sector 72--Accommodation and Food Services NAICS 81 - Sector 81--Other Services (except Public Administration) NAICS 92 - Sector 92--Public Administration
- NAICS 236 - Construction of Buildings
  NAICS 236 - Construction of Buildings NAICS 237 - Heavy and Civil Engineering Construction NAICS 238 - Specialty Trade Contractors NAICS 233 - Building, Developing, and General Contracting NAICS 234 - Heavy Construction NAICS 235 - Special Trade Contractors
  - NAICS 2361 - Residential Building Construction
    NAICS 2361 - Residential Building Construction NAICS 2362 - Nonresidential Building Construction
    - NAICS 23611 - Residential Building Construction
      NAICS 23611 - Residential Building Construction

This Industry comprises establishments primarily responsible for the construction or remodeling and renovation of single-family and multifamily residential buildings. Included in this industry are residential housing general contractors (i.e., new construction, remodeling or renovating existing residential structures), operative builders and remodelers of residential structures, residential project construction management firms, and residential design-build firms.

Industry trends:

The latest qualitative trends in the Residential Building Construction industry (NAICS 23611) highlight several emerging patterns. Sustainability and green building practices continue to dominate the industry as consumers and regulators increasingly demand energy-efficient, eco-friendly homes. Innovations in materials, such as cross-laminated timber and recycled construction materials, are gaining traction to meet these demands.

Another significant trend is the integration of smart home technologies. Homebuyers are showing a strong preference for properties equipped with intelligent systems for lighting, climate control, security, and entertainment. This trend is further driven by advancements in IoT (Internet of Things) technology, which is making these systems more accessible and affordable.

Labor shortages in the construction industry remain a challenge. Companies are turning to modular and prefabricated construction methods to improve efficiency, reduce costs, and mitigate the impact of labor shortages. These methods also support faster project completion times, meeting the increasing housing demands.

Looking ahead, the forecast for the near future indicates continued growth in the adoption of sustainable and smart building practices. The demand for affordable housing solutions is expected to shape the industry, prompting innovations in cost-effective construction techniques. Additionally, government initiatives and incentives aimed at promoting green construction and affordable housing are likely to influence market dynamics positively.