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  • September Private Residential Spending Stays Flat

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    Private residential construction spending was virtually unchanged in September, with spending on single-family construction dropping just 2.6%. The value of September private residential construction put in place was at an annual pace of $918 billion, about 12.7% higher compared to a year ago. The monthly decline is largely attributed to lower spending on single-family construction. Single-family construction spending dropped 2.6%… Read More ›

  • Inflation Brings Savings Rate Down In September

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    The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.4% in September, the eighth consecutive monthly increase of this year. Gains in personal income are largely driven by increases in compensation of employees and personal income on assets. Real disposable income, income remaining after adjusted for taxes and inflation, stayed flat in… Read More ›

  • New Single-Family Homes Foundations in 2021

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    NAHB analysis of the Survey of Construction (SOC) shows that 67% of all new single-family homes started in 2021 were built on slab foundations, followed by 21% of homes built with a full/partial basement and 11% of homes built with a crawl space. As home building shifts towards the southern divisions, the slab adoption rates are growing larger. The share… Read More ›

  • August Private Residential Spending Falls for Third Straight Month

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    Private residential construction spending declined 0.9% in August, as single-family construction spending slid amid surging mortgage rates. Private residential construction spending declined for the third consecutive month, standing at an annual pace of $921.9 billion, according to NAHB’s analysis of the Census Construction Spending data. However, this spending category was 12.5% higher year-over-year. The monthly declines are largely attributed to… Read More ›

  • More Women Working in Construction in 2021

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    The number of women employed in the construction industry increased to over 1.24 million in 2021, as the construction industry was quickly recovering  jobs lost earlier during the pandemic induced recession. Currently, women make up 11%  of the construction workforce, up from 9.3% in 2002. As the construction skilled labor shortage remains a key challenge for housing, adding new workers… Read More ›

  • Shift for Homes Built in Low-Density and Low-Cost Markets Since the Pandemic

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    The most recent Home Building Geography Index (HBGI) shows that home building activities have shifted to low-density and low-cost markets since the beginning of the COVID-19 pandemic. The market share for single-family constructions in large metro core and inner suburbs has declined from 44.5% to 41.6% from the 4th quarter of 2019 (pre-COVID), to the 2nd quarter of 2022. Housing… Read More ›

  • Private Residential Spending Slides in July

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    Private residential construction spending declined further in July, as rising mortgage rates and elevated construction costs put a damper on the market. It fell 1.5% in July, down for the second straight month, according to NAHB’s analysis of the Census Construction Spending data. Private residential construction spending was 14.1% higher year-over-year. The monthly declines are largely attributed to lower spending… Read More ›

  • Student Housing Investment Edges Down in the Second Quarter of 2022

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    Private fixed investment in student dormitories declined 4.4% to a seasonally adjusted annual rate (SAAR) of $3.2 billion in the second quarter of 2021, according to the data released by Bureau of Economic Analysis.  Private fixed investment in dorms was 12.7% higher than a year ago, but 29% below the pre-pandemic level. Private fixed investment in student housing experienced a… Read More ›

  • Second Quarter of 2022 Homeownership Rate at 65.8%

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    The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate at 65.8% in the second quarter of 2022, which is statistically unchanged from the last quarter reading (65.4%). The national rental vacancy rate slipped to 5.6%, while the homeowner vacancy rate stayed at 0.8%. Both rental and homeowner vacancy rates are hovering near historical lows, reflecting tight housing… Read More ›

  • Private Residential Spending Declines in June

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    As mortgage rates reached 3-year high, private residential construction spending decreased 1.6% to a seasonally adjusted annual rate (SAAR) of $923.7 billion in June, according to NAHB’s analysis of the Census Construction Spending data. It was the first decline since May 2020. On a year-over-year basis, total private construction spending was 15.6% higher. The monthly declines are largely attributed to… Read More ›