Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in 2021 as the economy continued to recover from the COVID-19 crisis. According to the U.S. Bureau of Economic Analysis (BEA), the percent change increase in real GDP ranged from 8.6…
Among first-time buyers, both a shower stall and tub in the primary bath ranked as the most popular of the 18 bathroom features listed in the NAHB study, What Home Buyers Really Want, 2021 Edition. The study asked first-time, as well as repeat, home buyers…
After dropping to a one-year low last month, consumer confidence rebounded slightly in March as strong job growth offset consumer’s concerns about the Ukraine crisis and decades-high inflation. The Consumer Confidence Index, reported by the Conference Board, rose 1.5 points from 105.7 to 107.2 in…
The construction labor market remains tight, as the industry sees a rising number of job openings year-over-year. The count of open construction jobs remained steady at 381,000 unfilled positions in February. The highest measure in the history of the data series (going back to late…
Nonfarm payroll employment increased in 48 states and the District of Columbia in February compared to the previous month while Arkansas and Alaska lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 678,000 in February, following a gain…
Much like other home buyers, those buying their first homes rate double sinks and walk-in pantries as the most popular of 30 kitchen features listed in the recent NAHB study, What Home Buyers Really Want, 2021 Edition. In the study, first-time (and other) home buyers…
New single-family home sales posted a second monthly decline in February as housing demand was affected by a jump in mortgage rates. After starting at 3.1% in December, rates increased to 3.45% in January and 3.76% in February, per Freddie Mac. Additionally, builders continue to…
