With the end of 2024 approaching, NAHB’s Eye on Housing is reviewing the posts that attracted the most readers over the last year. In April, Natalia Siniavskaia shared wages by occupation in construction including the median salaries and top 25% salaries. Half of payroll workers in construction earn more than $58,500 and the top 25%…
In November 2024, the U.S. housing market experienced a significant boost, with sales of new single-family homes reaching a seasonally adjusted annual rate of 664,000, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This marks a 5.9% increase from October’s revised figures and an…
Nonfarm payroll employment increased in 38 states and the District of Columbia in November compared to the previous month, while it decreased in 12 states. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 227,000 in November, following a meager gain of 32,000 jobs in October. On a month-over-month basis,…
Consumer confidence fell to a three-month low in December amid growing concerns about economic uncertainties, especially potential tariffs. These policy changes could derail inflation progress and lead the Fed to slow its easing pace. The Consumer Confidence Index, reported by the Conference Board, is a survey measuring how optimistic or pessimistic consumers feel about their…
Real gross domestic product (GDP) increased in 45 states and the District of Columbia in the third quarter of 2024 compared to the second quarter of 2024 according to the U.S. Bureau of Economic Analysis (BEA). Iowa reported no change during this time. The percent change in real GDP ranged from a 6.9 percent increase…
Despite higher mortgage rates and elevated home prices, existing home sales jumped to an 8-month high in November, marking the second month of annual increase in more than three years, according to the National Association of Realtors (NAR). While inventory improves and the Fed continues lowering rates, the market faces headwinds as mortgage rates are…
In a widely anticipated move, the Federal Reserve’s Federal Open Market Committee (FOMC) reduced the short-term federal funds rate by an additional 25 basis points at the conclusion of its December meeting. This policy move reduces the top target rate to 4.5%. However, the Fed’s newly published forward-looking projections also noted a reduction in the…
