Personal income increased by 0.4% in December, following a 0.3% rise in November and a 0.7% gain in October, according to the latest data from the Bureau of Economic Analysis.
Mortgage rates edged higher in January, with the average 30-year fixed-rate mortgage reaching 6.96%. Rates had been climbing steadily since mid-December—even surpassing 7%—before easing in recent weeks as the bond
Real GDP growth slowed in the fourth quarter of 2024, but the economy finished the year at a solid rate. While consumer spending continued to drive growth, gross private domestic
Housing’s share of the economy remained unchanged at 16.2% in the fourth quarter of 2024, according to the advance estimate of GDP produced by the Bureau of Economic Analysis. For
In a widely anticipated announcement, the Federal Reserve paused on rate cuts at the conclusion of its January meeting, holding the federal funds rate in the 4.25% to 4.5% range.
Nonfarm payroll employment increased in 42 states and the District of Columbia in December compared to the previous month, while it decreased in seven states. Wyoming reported no change during
On a year-over-year basis, home prices grew at a rate of 3.75% for November, according to the S&P CoreLogic Case-Shiller Home Price Index (NSA). This marks an increase from the
A limited amount of existing inventory along with solid demand helped new home sales end the year on an up note, even as buyers continue to grapple with housing affordability
Despite higher mortgage rates and elevated home prices, existing home sales jumped to a 10-month high in December, marking three monthly gains in annual growth, according to the National Association
Construction costs account for 64.4% of the average price of a home, according to NAHB’s most recent Cost of Construction Survey. In 2022, the share was 3.6 points lower, at
Real GDP of metropolitan areas rose 2.7% in 2023, with the “real estate, rental and leasing” sector contributing 0.34 percentage points and construction contracting growth by 0.11 percentage points. While
A key indicator of the labor market is the labor force participation rate. This rate is the percentage of working-age adults in a population who are working or looking for
The worst on record rental affordability conditions, depleted “excess” savings of the pandemic era, and high mortgage rates halted the post-pandemic trend of young adults moving out of parental homes.
Fueled by solid demand, single-family construction moved higher in December despite several headwinds facing the industry, including high mortgage rates, elevated financing costs for builders and a lack of buildable
The NAHB/Westlake Royal Remodeling Market Index (RMI) posted a reading of 68 for the fourth quarter of 2024, up five points compared to the previous quarter. Remodelers are more optimistic
Builder sentiment edged higher to begin the year on hopes for an improved economic growth and regulatory environment. At the same time, builders expressed concerns over building material tariffs and
Inflation edged up to a five-month high in December as energy prices surged, accounting for more than 40% of the monthly headline increase. Inflation ended 2024 at a 2.9% rate,
Over the first eleven months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 912,910. On a year-over-year (YoY) basis, this is an increase of 8.2%