Due to tightened monetary policy, the count of open construction sector jobs shifted lower in the early Spring but is now stabilizing, per the Bureau of Labor Statistics’ Job Openings
Total (new and existing) home inventory is an important measure for gauging and forecasting home prices and home construction impacts. The intuition is clear: more inventory yields weaker or declining
Mortgage rates that averaged 7.06% in May per Freddie Mac, the highest monthly average since last November, put a damper on new home sales last month. Sales of newly built,
Single-family and multifamily housing starts fell in May as high interest rates for construction and development loans and elevated mortgage rates held back both housing supply and demand. Overall housing
Mortgage rates that continue to hover in the 7% range along with elevated construction financing costs continue to put a damper on builder sentiment. Builder confidence in the market for
The Federal Reserve’s monetary policy committee held constant the federal funds rate at a top target of 5.5% at the conclusion of its June meeting. In its statement, the Federal
Due to tightened monetary policy, the count of open jobs for the economy and construction is declining, per the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS).
The volume of total outstanding acquisition, development and construction (AD&C) loans posted an additional decline during the first quarter of 2024 as interest rates remain elevated and financial conditions are
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 use homes for more purposes including work. Home size correspondingly increased in 2021 as
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates a slowing market for custom home building after a recent gain in market share. The
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts declined significantly during the first quarter of 2024. For the quarter, 80,000 multifamily residences started
Single-family built-for-rent construction posted year-over-year gains as of the first quarter of 2024, as builders sought to add additional rental housing in a market facing ongoing, elevated mortgage interest rates.
Year-over-year gains for townhouse construction continued at the start of 2024 as demand for medium-density housing continues to be strong. According to NAHB analysis of the most recent Census data
Single-family starts remained flat in April as mortgage interest rates moved above 7% last month and builders continued to face tight lending conditions. Overall housing starts increased 5.7% in April
With mortgage rates averaging above 7% for the past four weeks per data from Freddie Mac, builder sentiment posted its first decline since November 2023. Builder confidence in the market
The Federal Reserve’s monetary policy committee held constant the federal funds rate constant at a top target of 5.5% at the conclusion of its April-May meeting. In its statement, the
Due to tightened monetary policy, the count of total job openings for the entire economy has trended lower over the last year. This is consistent with a somewhat cooler economy