Over the first seven months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 599,308. On a year-over-year (YoY) basis, this is an increase of 13.7%
The average length of time to complete construction of a multifamily building after obtaining authorization was 19.9 months in 2023, according to the 2023 Survey of Construction (SOC) from the
Shares of new single-family homes built with private wells and individual septic systems decreased in 2023, compared with the previous year. NAHB tabulation of data from the Survey of Construction
The total market share of non-site built single-family homes (modular and panelized) was just 3% of single-family homes in 2023, according to completion data from the Census Bureau Survey of
Inflation eased further in August, reaching a new 3-year low despite persistent elevated housing costs. This inflation report is seen as the final key piece of data before the Fed’s
In 2023, the majority of homes started featured laundry connections on the first floor (72%), according to the Census’s Survey of Construction. Laundry located on the second floor or higher
The homeownership rate for multigenerational households surpassed that of all other family household types in 2022 and now stands at 74.2%, exceeding the homeownership rate of other family households of
In the most recent NAHB research on home buyer preferences, What Home Buyers Really Want Study, consumers were asked to rate how 28 kitchen and 18 bathroom features would influence
NAHB’s featured topic for the second quarter HBGI reveals that 17.5% of single-family and 8.6% of multifamily construction takes place in second home areas. Recent NAHB analysis found that the
Although rent control policies do, in fact, produce lower rents in the controlled units as intended, these policies also have a number of unintended and undesirable consequences, according to a
Today’s jobs report and the newly released preliminary estimate of the benchmark revision indicate that the U.S. labor market is slowing from its overheated state in 2021 and 2022 but
Mortgage rates continued to decrease in August, landing at an average rate of 6.50%. According to Freddie Mac, the average monthly rate fell by 35 basis points (bps) from July’s
The Market Composite Index, a measure of mortgage loan application volume by the Mortgage Bankers Association’s (MBA) weekly survey, saw a month-over-month increase of 10.7% on a seasonally adjusted (SA)
House price appreciation was recorded in all 50 states and the District of Columbia. Limited resale inventory and strong growth in demand continued to put upward pressure on house prices.
Due to slowing home construction and elevated interest rates, the count of open construction sector jobs continued to decline in July, per the Bureau of Labor Statistics’ Job Openings and Labor
In 2022, the total count of second homes was 6.5 million representing 4.6% of the total housing stock, according to NAHB estimates. This reflects a decline from 2020, when the
Private residential construction spending fell 0.4% in July, according to the Census Construction Spending data. Nevertheless, spending remained 7.7% higher compared to a year ago. The monthly decline in total
Despite high mortgage rates, the lack of resale homes and pent-up demand drove solid growth in single-family permits across nearly all regions in the second quarter. In contrast, multifamily construction