New single-family home size has been generally falling since 2015 as a response to declining affordability conditions. An exception occurred when new home size increased in 2021 as interest rates
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts increased during the third quarter of 2025. For the quarter, 119,000 multifamily residences started construction.
Single-family built-for-rent construction fell back in the third quarter of 2025, as a higher cost of financing and increased multifamily supply crowded out development. According to NAHB’s analysis of data
The missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and other small multifamily properties. The multifamily segment of the missing middle (apartments in 2- to 4-unit properties)
Builder confidence moved lower to start the year as affordability concerns continue to weigh heavily with buyers, and builders continue to contend with rising construction costs. Builder confidence in the
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates year-over year growth for custom home builders amid broader single-family home building weakness. The custom
Townhouse construction gained single-family construction market share during the third quarter of 2025. According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, during
The count of open, unfilled positions in the construction industry increased in November, per the delayed Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The current level of
Builder confidence inched higher to end the year but still remains well into negative territory as builders continue to grapple with rising construction costs, tariff and economic uncertainty, and many
The central bank’s Federal Open Market Committee (FOMC) cut rates a third and final time in 2025, reducing the target range for the federal funds rate by 25 basis points
The count of open, unfilled positions in the construction industry was relatively unchanged in October, per the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The current level
Market uncertainty exacerbated by the government shutdown along with economic uncertainty stemming from tariffs and rising construction costs kept builder confidence firmly in negative territory in November. Builder confidence in
With the government shutdown limiting the quantity of economic data available to markets and policymakers, the central bank’s Federal Open Market Committee (FOMC) enacted a widely anticipated 25 basis point
Even as builders continue to grapple with market and macroeconomic uncertainty, sentiment levels posted a solid gain in October as future sales expectations surpassed the 50-point breakeven mark for the
The count of open, unfilled positions in the construction industry decreased in August, per the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The decline occurred as home building
After a monetary policy pause that began at the start of 2025, the Federal Reserve’s monetary policy committee (FOMC) voted to reduce the short-term federal funds rate by 25 basis
Challenging affordability conditions continue to act as headwinds for the housing industry, but the sector could see lower interest rates in the near future with the Federal Reserve expected to cut
Builder sentiment levels remained unchanged in September but lower mortgage rates and expectations that the Federal Reserve will soon cut the federal funds rate led to higher future sale expectations