Real gross domestic product (GDP) decreased in 46 states and the District of Columbia in the first quarter of 2022. New Hampshire, Vermont, Massachusetts, and Michigan saw modest GDP growth. According
The top 10 builders captured 34.2% of new single-family home closings in 2021, the highest percentage on record based on data released by BUILDER Magazine. This share represents 264,426 closings
Consumer confidence dropped again in June as inflation stayed at decades high and continued to temper consumers’ economic outlook, which tumbled to the lowest level in nearly a decade. Though
Recently, the National Association of Home Builders (NAHB) and the National Multifamily Housing Council (NMHC) undertook a joint research effort to find out how much government regulation adds to the
After posting four consecutive monthly declines on rising mortgage rates and worsening affordability conditions, new home sales posted a solid gain in May as some buyers rushed into the market
Hispanics are an important source of labor in the U.S. construction industry, where skilled labor shortage is a long-term issue. One in three workers in the US construction industry is
Nonfarm payroll employment increased in 32 states and the District of Columbia in May compared to the previous month while 18 states lost jobs. According to the Bureau of Labor
As rising mortgage rates and higher home prices continued to price out homebuyers, existing home sales declined for four consecutive months, according to the National Association of Realtors (NAR). However,
In the first quarter of 2022, multifamily home building showed greater growth across all regional markets compared to the first quarter of 2021, per the NAHB’s Home Building Geography Index
Single-family starts declined further in May, as higher interest rates weighed on housing affordability. This follows a sixth straight monthly decline for the NAHB/Wells Fargo HMI. Additionally, the cost and
To fight persistent inflation, the Federal Reserve has committed to significantly cooling demand. This approach reflects a non-monetary policy failure to fix underlying supply-side challenges that are pushing up inflation.
Rising inflation and higher mortgage rates are slowing traffic of prospective home buyers and putting a damper on builder sentiment. In a troubling sign for the housing market, builder confidence
The prices of goods used in residential construction climbed 1.8% in May (not seasonally adjusted) and have increased 19.4%, year-over-year, according to the latest Producer Price Index (PPI) report. Prices
Over the first four months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 377,713. On a year-over-year (YoY) basis, this is a 1.7% decline over
The latest results from the Federal Reserve’s Z.1 Financial Accounts of the United States, i.e., the Flow of Funds, show that in the first quarter of 2022, the aggregate market
NAHB analysis of Consumer Expenditure Survey (CES) data from the Bureau of Labor Statistics shows that during the first year after closing on a home sale, home buyers tend to
Consumer prices accelerated again in May as shelter, energy and food prices continued to surge at the fastest pace in decades. This marked the third straight month for inflation above
The median age of owner-occupied homes is 39 years, according to the latest data from the 2019 American Community Survey. Compared to a median age of 31 years in 2005,