September 2025 – Eye On Housing

June Private Residential Construction Spending Edges Higher

Na ZhaoSeptember 2, 2025September 2, 202502 mins

Private residential construction spending inched up 0.1% in June, registering the first monthly gain after six consecutive declines. This modest increase was primarily driven by more spending on single-family construction and home improvements. Despite this increase, total spending was 5.3% lower than a year ago, as the housing sector continues to navigate the economic uncertainty…

NAHB HBGI: Relative Gains for Smaller Markets, Particularly for Multifamily

Jesse WadeSeptember 2, 2025September 2, 202504 mins

Single-family construction declined in the second quarter of 2025 for almost all tracked markets, according to the NAHB Home Building Geography Index (HBGI). Meanwhile, multifamily construction continued to expand in low population density markets, which have shown remarkable strength due to for-sale affordability challenges. The HBGI tracks single-family and multifamily permits across seven population density…