A sharp decline in multifamily production pushed overall housing starts down in May, while single-family output was essentially flat due to economic and tariff uncertainty along with elevated interest rates.
In a further sign of declining builder sentiment, the use of price incentives increased sharply in June as the housing market continues to soften. Builder confidence in the market for
Single-family construction growth slowed substantially across all markets in the first quarter of 2025, according to the Home Building Geography Index (HBGI). Multifamily construction growth remained negative in the largest
Private residential construction spending fell by 0.9% in April, marking the third consecutive monthly decline. This decrease was primarily driven by reduced spending in single-family construction and home improvements. Compared
The Census estimate of new home sales posted an unexpected gain in April even as builders and consumers continue to deal with economic uncertainty, elevated interest rates and rising building
Townhouse construction expanded more than 2 percent on a year-over-year basis per data from the first quarter of 2025. According to NAHB analysis of the most recent Census data of Starts
Single-family built-for-rent construction posted flat growth on a year-over-year basis, as a higher cost of financing crowded out development activity. According to NAHB’s analysis of data from the Census Bureau’s Quarterly
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates flat year-over year growth for custom home builders. The custom building market is less sensitive
Economic uncertainty stemming from tariff issues, elevated mortgage rates and rising building material costs pushed single-family housing starts lower in April. Overall housing starts increased 1.6% in April to a
Builder confidence fell sharply in May on growing uncertainties stemming from elevated interest rates, tariff concerns, building material cost uncertainty and the cloudy economic outlook. However, 90% of the responses
Private residential construction spending declined by 0.4% in March, largely driven by a decrease in home improvement spending. This decline followed five consecutive months of growth. Despite the monthly drop,
In a previous post, NAHB analyzed where builders and remodelers purchased products, regardless of who ultimately purchases them (themselves or subcontractors). In this post, the question shifts to who is
Constrained housing affordability conditions due to elevated interest rates, rising construction costs and labor shortages led to a reduction in housing production in March. Overall housing starts decreased 11.4% in
Growing economic uncertainty stemming from tariff concerns and elevated building material costs kept builder sentiment in negative territory in April, despite a modest bump in confidence likely due to a
The most common sources for products used in home building and remodeling are specialty retailers, lumber yards, and wholesale distributors, according to two recent NAHB surveys. The surveys include one
Around 48% of the U.S. housing stocks dates back to the 1980s and earlier. The median age of owner-occupied homes has climbed to 41 years in 2023, up from 31
Private residential construction spending increased by 1.3% in February, rebounding from a 1.2% dip in January. The growth was largely driven by higher spending on single-family construction and residential improvements.
Limited existing inventory helped single-family starts to post a solid gain in February, but builders are still grappling with elevated construction costs stemming from tariff issues and persistent shortages related