Reflecting most forecasters’ expectations for the June FOMC meeting, the Federal Reserve continued its post-2024 pause for federal funds rate cuts, retaining a target rate of 4.5% to 4.25%. The
A sharp decline in multifamily production pushed overall housing starts down in May, while single-family output was essentially flat due to economic and tariff uncertainty along with elevated interest rates.
In a further sign of declining builder sentiment, the use of price incentives increased sharply in June as the housing market continues to soften. Builder confidence in the market for
The count of open, unfilled positions in the construction industry held steady amid a slowdown for housing, per the April Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS).
The Census estimate of new home sales posted an unexpected gain in April even as builders and consumers continue to deal with economic uncertainty, elevated interest rates and rising building
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts increased during the first quarter of 2025. For the quarter, 88,000 multifamily residences started construction.
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)
An expected impact of the virus crisis was a need for more residential space, as people used homes for more purposes including work. Home size correspondingly increased in 2021 as
Townhouse construction expanded more than 2 percent on a year-over-year basis per data from the first quarter of 2025. According to NAHB analysis of the most recent Census data of Starts
Single-family built-for-rent construction posted flat growth on a year-over-year basis, as a higher cost of financing crowded out development activity. According to NAHB’s analysis of data from the Census Bureau’s Quarterly
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates flat year-over year growth for custom home builders. The custom building market is less sensitive
Builder confidence fell sharply in May on growing uncertainties stemming from elevated interest rates, tariff concerns, building material cost uncertainty and the cloudy economic outlook. However, 90% of the responses
The Federal Reserve remained on pause with respect to rate cuts at the conclusion of its May meeting, maintaining the federal funds rate in the 4.25% to 4.5% range. Characterizing
Consistent with soft sentiment data, the count of job openings for the overall economy and construction fell in March as employers slowed hiring plans amid a broader economic slowdown, per
A modest decline in mortgage rates and lean existing inventory helped boost new home sales in March even as builders and consumers contend with uncertain market conditions. Sales of newly
Growing economic uncertainty stemming from tariff concerns and elevated building material costs kept builder sentiment in negative territory in April, despite a modest bump in confidence likely due to a
After a period of slowing associated with declines for some elements of the residential construction industry, the count of open construction sector jobs remained lower than a year ago, per
A slight decline in mortgage rates and limited existing inventory helped new home sales to edge higher in February even as housing affordability challenges continue to act as a strong