Housing Share of GDP Surpasses 16% for First Time Since 2022
Housing’s share of the economy rose to 16.1% in the first quarter of 2024. The…
Housing’s share of the economy rose to 16.1% in the first quarter of 2024. The share remained below 16% for all of 2023 at 15.9% in each of the four quarters. This increase to above 16% marks the first-time housing’s share of GDP is above 16% since 2022. In the first quarter, the more cyclical…
NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the share of new home sales backed by VA loans climbed substantially in the first quarter of 2024, while all-cash sales share fell by nearly 30%. However, the median purchase price of homes bought with cash continued to increase in…
Despite higher interest rates last month, new home sales rose in March due to limited inventory of existing homes. However, the pace of new home sales will be under pressure in April as mortgage rates moved above 7% this month, which is expected to moderate sales and increase the use of builder sales incentives this…
Based on new demographic analysis of 2020 Census population counts, the Census Bureau estimates that children between the ages of 0 to 4 were undercounted by over one million. This age range is historically undercounted in the population surveys but with the addition of conducting the decennial census in the midst of a pandemic, the…
Green homes go beyond lessening their environmental impact; they also actively mitigate the effects of the environment upon them. All homes can face damage from environmental hazards, prompting builders to implement resiliency practices to reduce such risks. This post will detail the prevalence of resiliency building, specific practices by hazard, as well as resiliency certification…
A recent NAHB study on home buyer preferences* found that a single-family detached home remains the first purchase option for two of every three buyers. Far smaller shares are looking to buy a townhome (16%), a multifamily home (10%), or a manufactured home (5%). In the face of such strong preference for a detached home,…