Private residential construction spending increased by 1.5% in December 2024, according to the latest U.S. Census Construction Spending data. It was the third consecutive monthly increase since September 2024. On
A limited amount of existing inventory along with solid demand helped new home sales end the year on an up note, even as buyers continue to grapple with housing affordability
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
Fueled by solid demand, single-family construction moved higher in December despite several headwinds facing the industry, including high mortgage rates, elevated financing costs for builders and a lack of buildable
The NAHB/Westlake Royal Remodeling Market Index (RMI) posted a reading of 68 for the fourth quarter of 2024, up five points compared to the previous quarter. Remodelers are more optimistic
Builder sentiment edged higher to begin the year on hopes for an improved economic growth and regulatory environment. At the same time, builders expressed concerns over building material tariffs and
Over the first eleven months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 912,910. On a year-over-year (YoY) basis, this is an increase of 8.2%
After a period of slowing associated with declines for some elements of the residential construction industry, the count of open construction sector jobs has remained lower than a year ago,
Private residential construction spending edged up by 0.1% in November 2024, according to the latest U.S. Census Construction Spending data. Year-over-year, the November report showed a 3.1% increase. The monthly
Ongoing lean levels of single-family existing home inventory helped to boost single-family production in November, while overall housing production fell because of a double-digit percentage drop in multifamily construction. Overall
Builder sentiment held steady to end the year as high home prices and mortgage rates offset renewed hope about a better regulatory business climate in 2025. Along those lines, builders
Over the first ten months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 846,446. On a year-over-year (YoY) basis, this is an increase of 9.4%
The residential construction industry plays a crucial role in driving economic growth and local community development. It has a lasting impact on local communities by creating jobs, improving infrastructure, boosting
Residential construction has remained in low density suburbs and outlying areas, according to the National Association of Home Builders’ latest release of the Home Building Geography Index (HBGI). This trend
Private residential construction spending increased by 1.5% in October, according to the latest U.S. Census Construction Spending data. Year-over-year, the October report showed a 6.4% increase. The monthly increase in
The percentage of new apartment units that were absorbed within three months of completion rose from 50% to 55% in the second quarter of 2024, according to the Census Bureau’s
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts declined during the third quarter of 2024. For the quarter, 94,000 multifamily residences started construction.
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)