Consumer prices rose slightly in November, with a decline in the gasoline index being offset by an increase in the shelter index. The ongoing slowdown in inflation increases the probability that the Fed is done increasing rates. However, even after peaking in March this year, shelter costs continued to put upward pressure on inflation, accounting…
Using the Bureau of Economic Analysis most recent release of county level personal income per capita data and Census Bureau’s county level permit data, new NAHB analysis finds that single-family and multifamily construction takes place more often in areas where incomes are higher. Counties were grouped into five quintiles by the personal incomes per capita…
According to the Federal Reserve’s latest G.19 Consumer Credit report, total consumer credit outstanding totaled $4.99 trillion (seasonally adjusted annual rate) in October, an increase of $5.1 billion over the month and $146.7 billion—or 3.0%–higher than October 2022. The monthly increase resulted from revolving and nonrevolving credit outstanding gaining 0.2% and 0.1%, respectively. The level of…
According to the 2023 third quarter release of the Federal Reserve Z.1 Financial Accounts of the United States, household real estate assets grew for the second consecutive quarter. The continued lack of existing for-sale inventory has contributed to the growth in households’ real estate assets. The level of household real estate assets increased by $510.25…
In November, total nonfarm payroll employment increased by 199,000 and the unemployment rate declined to 3.7%, from 3.9% in October. The labor market continues to moderate. The Fed held interest rates steady for the second meeting in a row at the conclusion of its November meeting. This month’s employment data will be one of the…
According to data from the Census Bureau’s Survey of Construction (SOC), 62.6% of single-family homes started in 2022 were built within a community or homeowner’s association. This marks the second year in a row that the share declined, from the high point of 67.1% posted in 2020, and 65.5% in 2021. Prior to 2021 the…
Information obtained from the US Census Bureau’s Survey of Construction (SOC) and tabulated by NAHB, shows the share of new homes with a two-story foyer slightly increased in 2022. The increase was particularly notable in West South Central and New England. However, most new single-family homes were built without a two-story foyer nationally and regionally….
