State-Level Employment Situation: May 2025
Nonfarm payroll employment increased in 37 states in May compared to the previous month, while it decreased in 10 states and the District of Columbia. The three remaining states, Alaska,…
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The Fed Pause Continues
Reflecting most forecasters’ expectations for the June FOMC meeting, the Federal Reserve continued its post-2024 pause for federal funds rate cuts, retaining a target rate of 4.5% to 4.25%. The…
HBGI Q1 2025: Multifamily Growth in Smaller Markets
Single-family construction growth slowed substantially across all markets in the first quarter of 2025, according to the Home Building Geography Index (HBGI). Multifamily construction growth remained negative in the largest…
Multifamily Absorption Moves Lower for New Apartments
The percentage of new apartment units that were absorbed within three months after completion continued to trend lower, according to the Census Bureau’s latest release of the Survey of Market…
State-Level Employment Situation: April 2025
Nonfarm payroll employment increased in 40 states in April compared to the previous month, while it decreased in 10 states and the District of Columbia. According to the Bureau of…
Existing Home Sales Fall in April
Despite the brief retreat in mortgage rates and increased supply, existing home sales dropped to 7-month low in April, according to the National Association of Realtors (NAR). This unexpected decline…
Income Growth Helps Mute Existing Affordability Constraints
Despite solid income gains and lower home prices, Americans still continue to face major housing affordability challenges, according to the latest data from the National Association of Home Builders (NAHB)/Wells…