Despite mortgage rates that are at a 23-year high, new home sales posted a double-digit percentage gain in September because of a lack of inventory in the resale market. The
Nonfarm payroll employment increased in 40 states and the District of Columbia in September compared to the previous month, while nine states lost jobs. Wyoming reported no change. According to
Over the first eight months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 615,453. On a year-over-year (YoY) basis, this is 15.6% below the August
Nonfarm payroll employment increased in 33 states and the District of Columbia in August compared to the previous month, while 17 states lost jobs. According to the Bureau of Labor
The total market share of non-site built single-family homes (modular and panelized) was just 2% of single-family homes in 2022, according to completion data from the Census Bureau Survey of
Higher mortgage rates averaging above 7% put a damper on single-family production in August, as builders also continue to face supply-side challenges in the form of elevated construction costs, a
Over the first seven months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 527,158. On a year-over-year (YoY) basis, this is 18.4% below the July
NAHB analysis of the 2022 Census Bureau Survey of Construction (SOC) data shows that, nationwide, the share of non-conventional financing for new home sales accounted for 28.1% of the market,
Nonfarm payroll employment increased in 36 states in July compared to the previous month, while 14 states and the District of Columbia lost jobs. According to the Bureau of Labor
A lack of existing inventory and solid demand for housing helped offset rising mortgage rates and push single-family production higher in July, even as builders continue to grapple with elevated
Over the first six months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 449,226. On a year-over-year (YoY) basis, this is 20.9% below the June
Rising mortgage rates and elevated construction costs put a damper on new home sales last month. The U.S. Department of Housing and Urban Development and the U.S. Census Bureau estimated
Nonfarm payroll employment increased in 38 states and the District of Columbia in June compared to the previous month, while 12 states lost jobs. According to the Bureau of Labor
Single-family production fell back after four straight monthly gains as elevated construction costs and rising mortgage rates led to a reduction in home building activity and affordability conditions worsened for
Over the first five months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 357,143. On a year-over-year (YoY) basis, this is 24.7% below the May
Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the first quarter of 2023. According to the U.S. Bureau of Economic Analysis (BEA), the
Nonfarm payroll employment increased in 39 states and the District of Columbia in May compared to the previous month, while 11 states lost jobs. According to the Bureau of Labor
Over the first four months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 268,205. On a year-over-year (YoY) basis, this is 29.0% below the April