Persistently high mortgage rates, elevated costs for builders, and ongoing supply-side constraints continued to weigh on single-family construction in 2025. According to the NAHB analysis of the 2025 Survey of
In the second quarter of 2026, the NAHB Remodeling Market Index (RMI) posted a reading of 61, down one point compared to the previous quarter. The RMI has remained in the
Private residential construction spending rose modestly in May 2026, marking the third consecutive month of gains, albeit at a slower pace. According to the latest construction spending data from the
Strong labor market growth continued to put pressure on the nation’s housing supply in 2024, as home building activity did not fully keep pace with demand driven by job gains.
Housing starts fell sharply in May, driven by a steep drop in multifamily construction. Meanwhile, single-family buildings also slipped amid high interest rates, rising construction costs and ongoing labor shortages.
Builder sentiment remains subdued as rising material costs, elevated mortgage rates and ongoing affordability challenges continue to strain the housing market. Builder confidence in the market for newly built single-family
Through April 2026, residential construction activity remained uneven across housing sectors. Single-family permitting continued to soften compared with a year ago, reflecting persistent affordability challenges and elevated borrowing costs, while
Single-family construction declined across all geographies in the first quarter of 2026, according to the latest Home Building Geography Index (HBGI), as elevated interest rates, rising material costs, and labor
Private residential construction spending was up 0.8% in April 2026, following the monthly gain of 0.6% in March. This increase was largely driven by gains in single-family, and home improvement spending. Moreover, total private residential construction spending was 1.7% higher than a year ago. According to the latest construction spending data from the U.S. Census, single-family construction spending increased 1.4% in April, consistent with the steady builder confidence
The percentage of new apartment units that were absorbed within three months after completion was up one percentage point in the fourth quarter, according to the Census Bureau’s latest release
Elevated mortgage rates, higher inflation and economic uncertainty kept more buyers on the sidelines in April as ongoing affordability challenges continue. Sales of newly built single-family homes fell 6.2% in
Multifamily missing middle construction declined at the start of 2026. The missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and other small multifamily properties. The multifamily segment
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts increased year-over-year during the first quarter of 2026. For the quarter, 107,000 multifamily residences started
With overall single-family construction down 5% for the first four months of 2026, custom home building has been a relative bright spot. The custom building market is less sensitive to
Single-family built-for-rent (or built-to-rent, BTR) construction fell back in the first quarter of 2026, as a higher cost of financing, increased multifamily supply and policy concerns over Congressional legislation related
First quarter 2026 data reveal softer conditions for townhouse construction volume as housing affordability challenges affect homebuyer demand. According to NAHB analysis of the most recent Census data of Starts and
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
Single-family housing starts declined in April as builders faced continued economic uncertainty and affordability challenges, including higher construction costs, ongoing labor shortages and elevated financing expenses. The latest housing starts