American housing market is facing a persistent shortage. Home prices have reached historic highs and affordability has declined. Normally, in response to higher prices, housing supply would increase. However, new
At the conclusion of its July meeting, the Federal Reserve’s monetary policy committee once again held the federal funds rate constant at a top rate of 4.5%. However, two members
The latest homeownership rate declined to 65% in the second quarter of 2025, marking its lowest level since late 2019, according to the Census’s Housing Vacancy Survey (HVS). With mortgage
Residential building material prices rose in June, driven primarily by higher construction machinery and equipment part prices. Metal commodities also experienced significant increases, following recently implemented tariffs on steel and aluminum. Meanwhile,
Despite shrinking lot sizes, values for single-family detached spec home lots continued to rise, with the national median outpacing U.S. inflation and reaching a new high in 2024. The U.S.
In the first quarter of 2025, state and local governments experienced an increase in property tax revenue growth. On a seasonally adjusted basis, state and local government property tax revenue
Lumber cost uncertainty has risen from the start of the year, driven in part by potential higher tariffs, particularly on Canadian softwood lumber. Despite the continued use and threat of
Wage growth in construction continued to decelerate in April on a national basis, but the differences across regional markets remain stark. Nationally, average hourly earnings (AHE) in construction increased 3.6%
Prices for inputs to new residential construction—excluding capital investment, labor, and imports—fell 0.4% in April, following a (revised) increase of 0.8% in March. These figures are taken from the most
Half of payroll workers in construction earn more than $60,320 and the top 25% make at least $81,510, according to the latest May 2024 Bureau of Labor Statistics Occupational Employment
The Federal Reserve remained on pause with respect to rate cuts at the conclusion of its May meeting, maintaining the federal funds rate in the 4.25% to 4.5% range. Characterizing
The homeownership rate declined to 65.1% in the first quarter of 2025, the lowest level since the first quarter of 2020, according to the Census’s Housing Vacancy Survey (HVS). Amid
Home builders have already started to feel the effects of U.S. tariff policy, according to recent NAHB member surveys. This is true even though the Administration did not announce its
Prices for inputs to new residential construction—excluding capital investment, labor, and imports—were up 0.6% in March according to the most recent Producer Price Index (PPI) report published by the U.S.
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
Manufactured homes play a measurable role in the U.S. housing market by providing an affordable supply option for millions of households. According to the American Housing Survey (AHS), there are
NAHB recently released its 2025 Priced-Out Analysis, highlighting the housing affordability challenge. While previous posts discussed the impacts of rising home prices and interest rates on affordability, this post focuses
Property tax revenue collected by state and local governments reached a new high in 2024 and continued to make up a bulk of tax revenue. Total tax revenue for state