Per the Mortgage Bankers Association (MBA), through the week ending June 3, total mortgage activity decreased, with the 30-year fixed-rate mortgage (FRM) rate increasing to 5.45%, on average. The latest
Recent developments in the first quarter of 2022 per NAHB’s Home Building Geography Index (HBGI), indicate single-family home building slowing in suburbs, with most other regional geographies following suit. Following
Using the Consumer Expenditure Survey (CES) data from the Bureau of Labor Statistics (BLS), NAHB Economics estimates that a home purchase triggers significant spending on appliances, furnishings, and remodeling. NAHB’s
In May, total nonfarm payroll employment increased by 390,000 and the unemployment rate was unchanged at 3.6%. Solid job gains continued in May, despite surging inflation, persistent supply-chain issues, and
Data from the Survey of Market Absorption of Apartments (SOMA), produced by the Census Bureau, suggest continued improvement for the multifamily sector in the fourth quarter of 2021 due to
NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 0.9% in April after an increase of 0.7% in March 2022. Spending stood at a
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 jumped to 449,000 unfilled positions in April.