Home price growth continued to slow in August, growing at a rate just above 4% year-over-year. The S&P CoreLogic Case-Shiller Home Price Index (seasonally adjusted – SA) posted a 4.24%
Personal income increased by 0.3% in September, following a 0.2% up in August and a 0.3% increase in July, according to the most recent data release from the Bureau of
Approximately 27% of the national housing stock consists of multifamily homes—defined as residential buildings with multiple separate housing units within one structure. According to the 2023 American Community Survey 1-year
Housing’s share of the economy fell 0.1 percentage points to 16.2% in the third quarter of 2024 according to the advance estimate of GDP produced by the Bureau of Economic
The U.S. economy grew at a solid pace in the third quarter of 2023, boosted by strong consumer spending and government spending. According to the “advance” estimate released by the
The homeownership rate for those under the age of 35 dropped to 37% in the third quarter of 2024, reaching the lowest level since the third quarter of 2019, according
After a period of slowing associated with declines for some elements of residential construction, the count of open construction sector jobs trended lower in the September data, per the Bureau
With elevated interest rates and rising home prices, 103.5 million households in the United States cannot afford a $495,750 median-priced new home. The growing affordability crisis makes housing a top
As of 2023, nearly 40% of homeowners in the United States are mortgage-free, the highest level seen in the past 13 years. With elections approaching, it is valuable to analyze
All-cash purchases accounted for 7.9% of new home sales in the third quarter of 2024, marking the highest level this year but lowest level for the third quarter since 2022,
With housing affordability at a multidecade low, housing costs have become a major issue in the 2024 presidential election. While NAHB reports the national homeownership rate from the Census Bureau’s
Home buyers moved off the sidelines in September following the Federal Reserve’s recent move to cut interest rates for the first time in four years. Sales of newly built, single-family
In 2023, the total number of second homes was 5.7 million, accounting for 4% of the total housing stock, according to NAHB estimates of the 2023 American Community Survey. Second
Despite recent easing mortgage rates and improved inventory, existing home sales fell to a 14-year low in September as elevated home prices are causing potential buyers to hold out for
While the lack of affordable housing dominates the headlines across the nation, congressional districts with higher shares of renter households are disproportionately affected by the current affordability crisis. Geographically, the
Nonfarm payroll employment increased in 41 states and the District of Columbia in September compared to the previous month, while eight states saw a decrease. Nevada reported no change. According
Nationally, nearly 140 million people in the United States routinely commuted to work, according to NAHB analysis of the 2023 American Community Survey data. Among these people, approximately 23.8 million
Homeownership is an important voter issue for the upcoming election with both presidential candidates putting forth housing policies to tackle the housing affordability crisis. In a recent NAHB post, the