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.
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