During the first quarter of 2022, credit became tighter on loans for Acquisition, Development & Construction (AD&C) according to NAHB’s Survey on AD&C Financing. The NAHB survey produces a net
According to the latest Producer Price Index (PPI) report released today by the Bureau of Labor Statistics, the prices of goods used in residential construction ex-energy (not seasonally adjusted) climbed
Housing affordability in the first quarter of 2022 looks starkly different depending on the interest rate assumed in the calculation. The average mortgage interest rate for the quarter was 3.86%.
Per the Mortgage Bankers Association’s (MBA) latest month’s surveys (the week ending May 6), the 30-year fixed-rate mortgage (FRM) rate rapidly grew to 5.53%, marking the steepest interest rate increase
Consumer prices increased at a somewhat slower pace in April, the smallest monthly increase since August 2021, though inflation remains near a 40-year high. The food at home and shelter
In the first quarter of 2022, the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOOS) on Bank Lending Practices showed a significant net share of banks reporting more relaxed
Population growth in the United States amounted to just 0.12% in 2021 (between July 2020 and July 2021), the slowest rate on record dating back to 1900. The sharp slowdown
In the first quarter of 2022, non-real estate secured consumer credit, per the Federal Reserve’s latest G.19 Consumer Credit report, grew at a seasonal adjusted annual rate of 9.7%, with
Total nonfarm payroll employment increased by 428,000 in April, and the unemployment rate was unchanged at 3.6%. The April’s data indicate that the labor market remained healthy despite surging inflation,
Following a 25 basis points increase in March, the Federal Reserve’s monetary policy committee unanimously approved a further 50 basis points increase for the federal funds target rate, the largest
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 increased slightly to 396,000 unfilled positions in
The Census Bureau recently released its 2021 Metropolitan Statistical Area (MSA) annual population estimates. Between 2020 and 2021, 251 (65%) of the 384 MSAs within the 50 states and the
NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 1% in March after an increase of 0.7% in February. Spending stood at a seasonally
As the construction labor market remains tight and skilled labor shortages persist, wages in construction continue to rise, often outpacing and exceeding typical earnings in other industries. According to the