Residential demolition activity in 2025 declined 0.1% year-over-year but remained above pre-pandemic levels. According to NAHB analysis of data from Construction Monitor, permits pulled for residential demolition have been increasing
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts increased year-over-year during the fourth quarter of 2025. For the quarter, 96,000 multifamily residences started
While not a huge jump, 2025 featured the highest construction volume for multifamily missing middle housing starts. The missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and
Builder sentiment inched up in March even as builders continue to express affordability concerns stemming from elevated construction costs and shortages of buildable lots and labor. Builder confidence in the
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
In a year that saw a more than 6% decline for overall single-family housing starts, custom home building posted a gain. The custom building market is less sensitive to the
Single-family built-for-rent (or built-to-rent, BTR) construction fell back in the fourth quarter of 2025, as a higher cost of financing and increased multifamily supply crowded out development. Housing legislation now
Final data for 2025 reveal relatively flat conditions for townhouse construction volume in a year that saw broad-based declines for single-family home building. Townhouse construction ended 2025 with a soft
Elevated construction costs and constrained affordability conditions led to a reduction in single-family housing starts in January. However, led by solid multifamily production, overall housing starts increased 7.2% in January
Single-family permitting softened over the course of 2025 and finished the year weaker than the prior year. After showing some resilience in 2024, permitting activity gradually lost momentum as elevated
The percentage of new apartment units that were absorbed within three months after completion was unchanged for new units completed in the second quarter, according to the Census Bureau’s latest
Private residential construction spending was up 1.5% for the last month of 2025. This modest gain was driven primarily by increased spending on home improvements and single-family construction. Despite this
Residential improvement activity remained solid in 2024, though growth has moderated from the surge seen in 2022. The market continues to be supported by an aging housing stock, elevated homeowner
Private fixed investment for student dormitories was up 1.5% in the last quarter of 2025, reaching a seasonally adjusted annual rate (SAAR) of $3.9 billion. This gain followed three consecutive quarterly declines before rebounding in the final two quarters of the year. The elevated interest rates continued to weigh on student housing construction. Despite
Home improvement activity has remained elevated in the post-pandemic period, but both the volume of loan applications and the age profile of borrowers have shifted in notable ways. Data from
Despite a strong finish in December, single-family home building dipped in 2025 as persistent affordability challenges continued to weigh on the market. Total housing starts for 2025 were 1.36 million,
Builder confidence in the market for newly built single-family homes fell one point to 36 in February, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index
Even though garden/low-rise continues to be strong, overall confidence in the market for new multifamily housing decreased year-over-year in the fourth quarter, according to the Multifamily Market Survey (MMS) released