Rising mortgage rates, energy and material costs, and worsening labor and lot conditions have pushed builder sentiment to a 14-year low. Builder confidence in the market for newly built single-family
A rich, peer-reviewed academic literature finds that homeownership produces benefits that extend well beyond house-price appreciation. As detailed in a 2003 Journal of Urban Economics literature review, research across economics,
The number of open positions in the construction sector fell back in August per the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The current level of open
The Federal Reserve raised the federal funds rate by 25 basis points at the conclusion of its September policy meeting, bringing the target range to 3.75% to 4%. The decision
Higher mortgage rates, worsening labor shortages and rising material costs are weighing on builder sentiment. Builder confidence in the market for newly built single-family homes fell three points to 32
The number of open positions in the construction sector increased in July per the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The current level of open jobs
New single-family home size had been falling since 2015 in response to declining affordability conditions. An exception occurred in 2021, when new home size increased as interest rates reached historic
Multifamily missing middle construction declined during the second quarter of 2026. The missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and other small multifamily properties. The multifamily
Elevated borrowing costs, rising inflation and broad economic uncertainty continue to curb buyer demand and hold back new home sales. Sales of newly built single-family homes declined 10.5% in July
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts increased year-over-year during the second quarter of 2026. For the quarter, 117,000 multifamily residences started
Single-family built-for-rent (SFBFR, or built-to-rent (BTR)) construction fell back in the second quarter of 2026, as a higher cost of financing, increased multifamily supply and policy concerns over Congressional legislation
Second quarter 2026 data reveal softer conditions for townhouse construction as housing affordability challenges affect homebuyer demand, particularly in larger metropolitan markets. According to NAHB analysis of the most recent
With overall single-family construction down almost 7% for the first seven months of 2026, custom home building has been a relative bright spot for the residential construction industry. The custom
Builder sentiment remains muted from economic and geopolitical uncertainty, elevated mortgage rates and rising construction costs. Builder confidence in the market for newly built single-family homes inched up one point
The number of open positions in the construction sector increased in June, per the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The current level of open jobs
The Federal Reserve held the federal funds rate at a target range of 3.5% to 3.75% at the conclusion of its July policy meeting. There were three dissenting votes on
Affordability challenges continued to weigh on the new-home market in June, as elevated mortgage rates, rising inflation and broader economic uncertainty kept many prospective buyers on the sidelines. Sales of
Economic uncertainty and persistent affordability challenges driven by rising material prices, high land costs, and elevated mortgage rates continue to weigh on builder sentiment. Builder confidence in the market for