Two or More Story Home Starts Rebound in 2024
Over half of new single-family homes built in 2024 were two or more stories, according the recent release of the Census Bureau’s Survey of Construction (SOC). After declining in 2023,…
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May Private Residential Construction Spending Dips
Private residential construction spending fell by 0.5% in May, marking the fifth straight month of decreases. This drop was primarily driven by reduced spending on single-family construction. Compared to a…
2024 New Single-Family Starts by Census Division
Despite persistently high mortgage rates, elevated financing costs for builders, and a shortage of buildable lots, single-family starts rebounded in 2024, following two straight years of declines. According to the…
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,…
Is U.S. Lumber Self-Reliance Possible?
Lumber cost uncertainty has risen from the start of the year, driven in part by potential higher tariffs, particularly on Canadian softwood lumber. Despite the continued use and threat of…
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…
Builder Sentiment at Third Lowest Reading Since 2012
In a further sign of declining builder sentiment, the use of price incentives increased sharply in June as the housing market continues to soften. Builder confidence in the market for…