Residential construction has remained in low density suburbs and outlying areas, according to the National Association of Home Builders’ latest release of the Home Building Geography Index (HBGI). This trend is driven by persistent factors that continue to affect housing affordability including a limited supply…
The percentage of new apartment units that were absorbed within three months of completion rose from 50% to 55% in the second quarter of 2024, according to the Census Bureau’s latest release of the Survey of Market Absorption of New Multifamily Units (SOMA). The survey…
Prices for inputs to new residential construction—excluding capital investment, labor, and imports—decreased 0.2% in October according to the most recent Producer Price Index (PPI) report published by the U.S. Bureau of Labor Statistics. Compared to a year ago, this index is up 0.3% in October…
The production index for sawmills and wood preservation industries rose marginally by 0.2% in the second quarter of 2024. After falling for the previous two quarters, this was the first rise in real output since the third quarter of 2023 according to the G.17 data….
Housing’s share of the economy fell 0.1 percentage points to 16.2% in the third quarter of 2024 according to the advance estimate of GDP produced by the Bureau of Economic Analysis. The share was revised upwards for both the first and second quarter of 2024…
Nearly 1.3 million tax returns filed for tax year 2023 utilized the Residential Clean Energy Credit (25D tax credit), according to the latest IRS clean energy tax credit statistics. Through May 23rd of the 2024 tax filing season for 2023 returns, almost 138 million tax…
Nationally, across the 86 million owner-occupied homes in the U.S., the average annual real estate taxes paid in 2023 was $4,112, according to NAHB analysis of the 2023 American Community Survey. Homeowners in New Jersey continued to pay the highest real estate taxes, paying an…
