Over the first nine months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 693,908. On a year-over-year (YoY) basis, this is 13.3% below the September
Consumer prices in October remained unchanged, with the increase in shelter index being offset by the decline in the gasoline index. This cooling inflation increases the probability that the Fed
The Census Bureau’s latest Survey of Construction (SOC) shows minor changes in the number of full and half bathrooms for new single-family homes started in 2022 compared to 2021. The
During the third quarter of 2023, availability of loans for residential Land Acquisition, Development & Construction (AD&C) continued to tighten, according to both NAHB’s survey on AD&C Financing and the
According to the Federal Reserve Board’s November 2023 Senior Loan Officer Opinion Survey (SLOOS), lending standards tightened for all commercial real estate (CRE) loan categories and most residential real estate
Rising mortgage rates, elevated construction costs and limited existing inventory helped push housing affordability in the third quarter of 2023 to its lowest level in more than a decade. According
Median square foot prices (excluding record-high improved lot values) for new for-sale single-family detached (SFD) homes started in 2022 increased 18%, according to NAHB’s analysis of the latest Survey of
Consumer credit outstanding growth slowed to 0.4% in the third quarter of 2023 (SAAR) according to the Federal Reserve’s latest G.19 Consumer Credit report, as revolving debt grew 8.6% and
Per the Mortgage Bankers Association’s (MBA) survey through the week ending November 3rd, total mortgage activity increased 2.5% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate
Porches have been a popular home feature, consistently ranking in the top 10 in the NAHB surveys of recent and prospective home buyers published in What Home Buyers Really Want.
A majority of new homes that completed construction in 2022 included two-car garages (66%), according to NAHB analysis of 2022 Census Bureau Survey of Construction data. There is clear uniformity for
Job growth decelerated in October. Total nonfarm payroll employment increased by 150,000 and the unemployment rate edged up to 3.9% in October from 3.8%. The labor market is cooling. The
NAHB analysis of the Survey of Construction (SOC) shows that 70% of all new single-family homes started in 2022 were built on slab foundations, followed by 19% of homes built
The Federal Reserve’s monetary policy committee held the federal funds rate at a top target rate of 5.5% at the conclusion of its November meeting. While noting that the Fed
NAHB analysis of Census Construction Spending data shows that private residential construction spending rose 0.6% in September, after a 1.3% increase in August. It stood at a seasonally adjusted annual
Financial conditions continue to be tight, as the 10-year Treasury rate stands near 4.8% this morning. Among the factors leading to higher rates (more debt issuance, higher-for-longer monetary policy expectations,