Housing starts fell in July as economic uncertainty, rising construction costs, labor shortages and elevated financing expenses continued to challenge builders. Overall housing starts decreased 12.4% in July to a
Builder sentiment remains muted from economic and geopolitical uncertainty, elevated mortgage rates and rising construction costs. Builder confidence in the market for newly built single-family homes inched up one point
Single-family permitting activity continued to weaken through the first half of 2026, while multifamily permitting remained somewhat stronger compared with the same period last year. Over the first six months
The National Association of Home Builders (NAHB) has released its State Projections of Remodeling (SPR) for the first quarter of 2026. As a reminder, the SPR provides on a quarterly
Confidence in the market for new multifamily housing weakened year-over-year in the second quarter, according to the Multifamily Market Survey (MMS) by the National Association of Home Builders (NAHB). The
Private residential construction spending declined 0.3% in June, while substantial downward revisions to improvement (remodeling) spending significantly altered the sector’s recent trajectory. According to the latest construction spending data from
Following a multi-year run of record highs, the national median lot value for single-family detached spec homes largely stabilized in 2025. According to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC), the
Following the highest number of multifamily completions in nearly 40 years in 2024, completions declined in 2025 to 484,000, according to NAHB analysis of the Census Bureau’s Survey of Construction.
Affordability challenges continued to weigh on the new-home market in June, as elevated mortgage rates, rising inflation and broader economic uncertainty kept many prospective buyers on the sidelines. Sales of
The long-term shift toward building single-family detached homes on smaller lots appears to have stabilized. According to the latest Survey of Construction (SOC), the share of new homes built on
Strong multifamily growth pushed overall housing starts higher in June, while single-family production remained sluggish as elevated mortgage rates, rising construction costs and persistent labor shortages continued to weigh on
Economic uncertainty and persistent affordability challenges driven by rising material prices, high land costs, and elevated mortgage rates continue to weigh on builder sentiment. Builder confidence in the market for
State-level permitting activity continued to reflect a divided housing market through the first five months of 2026. Elevated mortgage rates and ongoing affordability challenges continued to weigh on single-family construction
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.