National Association of Home Builders Economic Research Blog

Category: Construction Statistics

August Private Residential Construction Spending Edges Higher 

Private residential construction spending inched up 0.8% in August, continuing steady growth since June 2025. This modest increase was primarily driven by more spending on multifamily construction and home improvements. However, total spending was 2% lower than a year ago, as the housing sector continues to navigate the economic uncertainty stemming from ongoing tariff concerns and elevated mortgage rates.  According to

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Builders Stay Cautious as Single-Family Permits Weaken

In August, single-family permit activity softened, reflecting caution among developers amid persistent economic headwinds. This trend has been consistent for eight continuous months. On the multifamily front, permitting also cooled

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Multifamily Missing Middle Trends

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)

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