Every quarter, the National Association of Home Builders (NAHB) conducts a survey of professional remodelers. The first part of the survey collects the information required to produce the NAHB/Westlake Royal
After a rapid expansion of residential swimming pool and spa construction following the pandemic, permit levels in the latest monthly index for December fell to their lowest level since 2020.
Private residential construction spending was up 1.3% in October, rebounding from a 1.4% decline in September 2025. This modest gain was primarily driven by increased spending on home improvements. Despite
In October, single-family building permits weakened, reflecting continued caution among builders amid affordability constraints and financing challenges. In contrast, multifamily permit activity remained steady and continued to perform relatively well.
New single-family home size has been generally falling since 2015 as a response to declining affordability conditions. An exception occurred when new home size increased in 2021 as interest rates
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts increased during the third quarter of 2025. For the quarter, 119,000 multifamily residences started construction.
Single-family built-for-rent construction fell back in the third quarter of 2025, as a higher cost of financing and increased multifamily supply crowded out development. According to NAHB’s analysis of data
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)
Builder confidence moved lower to start the year as affordability concerns continue to weigh heavily with buyers, and builders continue to contend with rising construction costs. Builder confidence in the
In the fourth quarter of 2025, the NAHB/Westlake Royal Remodeling Market Index (RMI) posted a reading of 64, increasing four points compared to the previous quarter. Most remodelers are finding reasonably strong
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates year-over year growth for custom home builders amid broader single-family home building weakness. The custom
Townhouse construction gained single-family construction market share during the third quarter of 2025. According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, during
The latest residential housing market report, delayed by the federal government shutdown last fall, indicates that builders have faced significant headwinds in recent months. Elevated mortgage rates earlier in the
Private fixed investment for student dormitories was up 3.8% in the third quarter of 2025, reaching a seasonally adjusted annual rate (SAAR) of $3.9 billion. This gain followed three consecutive
The number of residential remodelers in the U.S. has reached a record high of 128,187 establishments, 65% higher than the number of residential builders (single-family and multifamily), which stands at
Construction costs account for 64.4% of the average price of a home, according to NAHB’s most recent Cost of Construction Survey. In 2022, the share was 3.6 points lower, at
Despite historically low self-employment rates and the rising market share of top ten builders, residential construction remains an industry dominated by independent entrepreneurs, with nearly 80% of home builders and
Builder confidence inched higher to end the year but still remains well into negative territory as builders continue to grapple with rising construction costs, tariff and economic uncertainty, and many