Real GDP growth rebounded in the second quarter, driven by a turnaround in the trade balance and stronger consumer spending. According to the “advance” estimate released by the Bureau of
Overall consumer credit continued to rise in 2025, but the pace of growth remains slow. Student loan balances also rose year-over-year as borrowers resumed payments following the end of pandemic-era
Inflation held steady at 2.7% in July as food and energy prices remained subdued and offset increases in service prices, according to the Bureau of Labor Statistics’ (BLS) latest report.
The total market share of non-site built single-family homes (modular and panelized) was just 3% of single-family homes in 2024, according to completion data from the Census Bureau Survey of
In 2024, 73% of new single-family homes started were built on slab foundations, according to NAHB analysis of the U.S. Census Bureau’s Survey of Construction (SOC). Although this was a
In the second quarter of 2025, overall demand for residential mortgages was weaker, while lending standards for most types of residential mortgages were essentially unchanged, according to the recent release
Confidence in the market increased for multifamily developers in the second quarter of 2025, according to the Multifamily Market Survey (MMS) released today by the National Association of Home Builders
Mortgage application activity picked up in July as interest rates eased modestly. The Mortgage Bankers Association’s (MBA) Market Composite Index, which tracks mortgage application volume, rose 2.4% from June on
American housing market is facing a persistent shortage. Home prices have reached historic highs and affordability has declined. Normally, in response to higher prices, housing supply would increase. However, new
Average mortgage rates dipped in July, according to Freddie Mac. The average 30-year fixed-rate mortgage was 6.72%, 10 basis points (bps) lower than June. Meanwhile, the 15-year rate declined 9
Private fixed investment in student dormitories inched up 0.3% in the second quarter of 2025, reaching a seasonally adjusted annual rate (SAAR) of $3.9 billion. This gain followed a 1.1%
Private residential construction spending fell by 0.7% in June, marking the sixth straight month of decreases. This decline was primarily driven by reduced spending on single-family construction. Compared to a
Personal income increased by 0.3% in June, following a 0.4% dip in May, according to the latest data from the Bureau of Economic Analysis. The gains in personal income were
Housing’s share of the economy registered 16.3% in the second quarter of 2025, according to the advance estimate of GDP produced by the Bureau of Economic Analysis. This reading is
At the conclusion of its July meeting, the Federal Reserve’s monetary policy committee once again held the federal funds rate constant at a top rate of 4.5%. However, two members
In the second quarter of 2025, the median price for a new single-family home was $410,800, which was $18,600 lower than the median price of existing homes, which stood at
The count of open, unfilled positions in the construction industry held steady amid a slowdown for housing, per the June Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS).
The latest homeownership rate declined to 65% in the second quarter of 2025, marking its lowest level since late 2019, according to the Census’s Housing Vacancy Survey (HVS). With mortgage