In 2022, the total count of second homes was 6.5 million representing 4.6% of the total housing stock, according to NAHB estimates. This reflects a decline from 2020, when the
Private residential construction spending fell 0.4% in July, according to the Census Construction Spending data. Nevertheless, spending remained 7.7% higher compared to a year ago. The monthly decline in total
The average completion time of a single-family house in 2023 was approximately 10.1 months, breaking down to 1.5 months for authorization to start construction and another 8.6 months to finish
Private residential construction spending was down 0.3% in June, after a dip of 0.7% in the prior month, according to the Census Construction Spending data. Nevertheless, it remained 7.3% higher
The U.S. homeownership rate was 65.6% in the second quarter of 2024, unchanged from the first quarter of 2024, according to the Census’s Housing Vacancies and Homeownership Survey (HVS). However,
Private fixed investment in student dormitories declined 5% to a seasonally adjusted annual rate (SAAR) of $3.7 billion in the second quarter of 2024, after a 2.8% decrease in the
Personal income inched up 0.2% in June, down from a 0.4% increase in the prior month, according to the most recent data release from the Bureau of Economic Analysis (BEA).
Private residential construction spending was down 0.2% in May after surging 0.9% in the prior month, according to the construction spending data by the U.S. Census Bureau. Nevertheless, spending remained
Diversifying the construction labor force is a key strategic goal given the ongoing skilled labor shortage. The latest labor force statistics from the 2022 American Community Survey[1] show that Non-Hispanic
In 2022, around 1.29 million women worked in construction in the United States, accounting for 10.97% of the industry, according to the 2022 American Community Survey. Within the construction industry,
Private residential construction spending rose 0.1% in April, following a 0.4% decline in March. The seasonally adjusted annual pace reached $890.4 billion. Total private residential construction spending is 8% higher
The median age of construction workers is 42, one year older than a typical worker in the national labor force, according to NAHB analysis of the most recent 2022 American
As described in a previous post, NAHB recently released its 2024 Priced-Out Estimates showing 103.5 million households are not able to afford a median priced new home and an additional
NAHB analysis of Census data shows that private residential construction spending was down 0.7% in March, after increasing 0.7% in February. It stood at a seasonally adjusted annual pace of
The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate declined to 65.6% in the first quarter of 2024. This is 0.1 percentage points lower from the prior
According to the data released by Bureau of Economic Analysis (BEA), private fixed investment in student dormitories edged down 0.1% to a seasonally adjusted annual rate (SAAR) of $4 billion
The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.5% in March, up from a 0.3% increase in the prior month. Gains
NAHB recently updated its 2024 priced out estimates, showing how higher prices and interest rates affect housing affordability. The new estimates show that affordability is a serious problem even before