Single-family built-for-rent construction posted year-over-year gains as of the second quarter of 2024, as builders sought to add additional rental housing in a market facing ongoing, elevated mortgage interest rates.
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates gains for custom home building after some recent slowing. Custom home building typically involves home
Year-over-year gains for townhouse construction continued during the second quarter 2024 as demand for medium-density housing continues to be solid despite slowing for other sectors of the building industry. According
High interest rates for construction and development loans as well as ongoing challenges regarding labor shortages and higher prices for many building materials continued to slow the building market this
Of the roughly 950,000 single-family and 470,000 multifamily homes that started construction in 2023, 49,000 (30,000 single-family and 19,000 multifamily) were built in age-restricted communities, according to NAHB tabulation of data
A lack of affordability and buyer hesitation stemming from elevated interest rates and high home prices contributed to a decline in builder sentiment in August. Builder confidence in the market
Inflation dropped below a 3% annualized growth rate for the first time since March 2021 even though housing costs continue to climb. Nonetheless, the headline reading is another dovish signal
Over the first half of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 514,728. On a year-over-year (YoY) basis, this is an increase of 14.6% over
Inputs to residential construction, goods less foods and energy, decreased 0.04% in July according to the most recent Producer Price Index (PPI) report published by the U.S. Bureau of Labor
The majority of NAHB builder members are small businesses, according to the annual census of its members NAHB has been conducting since 2008. The most recent installment of the census
Wood framing remains the most dominant construction method for completed single-family homes in the U.S., according to NAHB analysis of 2023 Census Bureau data. For 2023 completions, 93% of new
Total outstanding US consumer debt stood at $5.08 trillion for the second quarter of 2024, increasing at an annualized rate of 2.46% (seasonally adjusted), according to the Federal Reserve’s G.19
During the second quarter of 2024, credit for residential Land Acquisition, Development & Construction (AD&C) continued to tighten and became even more expensive for most types of loans, according to
According to the Federal Reserve Board’s July 2024 Senior Loan Officer Opinion Survey (SLOOS), lending standards were essentially unchanged for all residential real estate (RRE) categories in the second quarter of 2024.
Confidence in the market for new multifamily housing declined year-over-year in the second quarter of 2024, according to results from the Multifamily Market Survey (MMS) released today by the National
The Market Composite Index, a measure of mortgage loan application volume by the Mortgage Bankers Association’s (MBA) weekly survey, saw a slight month-over-month decline of 0.8% on a seasonally adjusted
The share of new single-family homes built in the 1,600-3,000 square-foot range closely matches the share of buyers who want homes of that size, according to recent surveys from NAHB
Almost all new single-family homes that started construction in 2023 used either an air/ground source heat pump or a forced air system (without heat pump) for the primary heating system