With overall single-family construction down 5% for the first four months of 2026, custom home building has been a relative bright spot. The custom building market is less sensitive to the interest rate cycle than other forms of home building but is more sensitive to...
Single-family built-for-rent (or built-to-rent, BTR) construction fell back in the first quarter of 2026, as a higher cost of financing, increased multifamily supply and policy concerns over Congressional legislation related to institutional capital froze parts of the development market. Fortunately, recent changes by the House...
First quarter 2026 data reveal softer conditions for townhouse construction volume as housing affordability challenges affect homebuyer demand. According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, during the first quarter of 2026, single-family attached starts...
New single-family home size had been falling since 2015 in response to declining affordability conditions. An exception occurred in 2021, when new home size increased as interest rates reached historic lows. However, as mortgage interest rates increased in 2022 and 2023 and affordability worsened, demand...
Single-family housing starts declined in April as builders faced continued economic uncertainty and affordability challenges, including higher construction costs, ongoing labor shortages and elevated financing expenses. The latest housing starts and permits data suggest that the overall construction pipeline remains uneven across regions and property...
While housing affordability remains out of reach for millions of Americans, particularly first-time and entry-level buyers, conditions have improved modestly in the last year, according to the latest data from the National Association of Home Builders (NAHB)/Wells Fargo Cost of Housing Index (CHI). The CHI...
As of 2024, one in five adults aged 25-34 lives with parents or in-laws. NAHB’s analysis of the latest American Community Survey (ACS) Public Use Microdata Sample (PUMS) evaluates a wide range of socioeconomic and demographic factors that shape young adults’ path to independence. While...
Residential remodeling is an important and growing sector of the housing market, particularly as elevated mortgage rates and limited housing inventory encourage many homeowners to improve their existing homes rather than move. Moreover, the aging housing stock and persistent housing inadequacy issue continue to drive...
Builder confidence posted a modest gain in May even as buyers grapple with rising mortgage rates and economic uncertainty while builders continue to contend with elevated land, labor and construction costs. Builder confidence in the market for newly built single-family homes increased three points to...
Credit conditions on loans for residential Land Acquisition, Development & Construction (AD&C) were still tightening in the first quarter of 2026, but only slightly, according to NAHB’s quarterly survey on AD&C Financing. The net easing index derived from the NAHB survey posted a first-quarter reading...
Residential construction permitting activity presented a mixed picture through the first quarter of 2026, as weakness in the single-family market contrasted with continued strength in multifamily development. Elevated financing costs, ongoing affordability challenges, and softer builder sentiment continued to weigh on single-family construction activity, while...
Lending standards and demand for most types of residential mortgages were essentially in the first quarter of 2026, according to the recent release of the Senior Loan Officer Opinion Survey (SLOOS). For commercial real estate (CRE) loans, lending standards for multifamily construction & development were...
Prices rose across a host of goods and services used in residential construction. Rising energy prices were the primary driver, but transportation service prices also rose at their fastest pace since 2022. Meanwhile, building material prices, excluding energy, rose at their highest yearly rate in...
Consumer loan delinquency rates continued to normalize in the first quarter of 2026 as pandemic-related disruptions diminished and credit conditions moved closer to historical norms. According to the latest Quarterly Report on Household Debt and Credit from the Federal Reserve Bank of New York, about...
Inflation accelerated to a nearly three-year high in April, driven by continued increases in energy costs from the Iran war. Energy costs drove more than 40% of the monthly increase, with national gasoline prices soaring above $4.50 in early May for the first time since...
In the first quarter of 2026, consumer credit grew at a slightly faster pace than in years prior amid positive yet sluggish economic growth and rising inflation pressure. According to the Federal Reserve’s G.19 Consumer Credit Report, total outstanding U.S. consumer credit reached $5.14 trillion...
Existing home sales edged up in April after reaching a nine-month low in March, but sales remained at historically low levels. Elevated mortgage rates and reignited inflation driven by the Iran war continued to weigh on affordability as economic uncertainty pushed up long-term rates, while...
Wage growth for residential building workers remained subdued during the first quarter of 2026, reflecting continued softness in housing construction activity and easing labor demand. According to the latest data from the U.S. Bureau of Labor Statistics, both nominal and inflation-adjusted wage gains moderated further,...
