State & local tax revenue from property taxes paid reached $203.9 billion in the third quarter of 2024 (seasonally adjusted), according to the Census Bureau’s quarterly summary of state &
The U.S. trade deficit in goods was at $112 billion in the month of October, according to the Census Bureau’s Foreign Trade data. Compared to last year, the level has
NAHB estimates that $184 billion worth of goods were used in the construction of both new multifamily and single-family housing in 2023. Additionally, we estimate that $13 billon of those
Prices for inputs to new residential construction—excluding capital investment, labor, and imports—were unchanged in November according to the most recent Producer Price Index (PPI) report published by the U.S. Bureau
As reported in a previous post, immigrants make up one in four workers in the construction industry. The share of immigrants is significantly higher (32.5%) among construction tradesmen. In some
Reflecting the sharp increase in net immigration of recent years, the number of new immigrants joining the construction industry rose substantially in 2022. According to the latest American Community Survey
Prices for inputs to new residential construction—excluding capital investment, labor, and imports—decreased 0.2% in October according to the most recent Producer Price Index (PPI) report published by the U.S. Bureau
The production index for sawmills and wood preservation industries rose marginally by 0.2% in the second quarter of 2024. After falling for the previous two quarters, this was the first
The Fed cut the short-term federal funds rate by an additional 25 basis points at the conclusion of its November meeting, reducing the top target rate to 4.75%. However, while
Approximately 27% of the national housing stock consists of multifamily homes—defined as residential buildings with multiple separate housing units within one structure. According to the 2023 American Community Survey 1-year
With elevated interest rates and rising home prices, 103.5 million households in the United States cannot afford a $495,750 median-priced new home. The growing affordability crisis makes housing a top
As of 2023, nearly 40% of homeowners in the United States are mortgage-free, the highest level seen in the past 13 years. With elections approaching, it is valuable to analyze
With housing affordability at a multidecade low, housing costs have become a major issue in the 2024 presidential election. While NAHB reports the national homeownership rate from the Census Bureau’s
In 2023, the total number of second homes was 5.7 million, accounting for 4% of the total housing stock, according to NAHB estimates of the 2023 American Community Survey. Second
While the lack of affordable housing dominates the headlines across the nation, congressional districts with higher shares of renter households are disproportionately affected by the current affordability crisis. Geographically, the
Nationally, nearly 140 million people in the United States routinely commuted to work, according to NAHB analysis of the 2023 American Community Survey data. Among these people, approximately 23.8 million
Homeownership is an important voter issue for the upcoming election with both presidential candidates putting forth housing policies to tackle the housing affordability crisis. In a recent NAHB post, the
Nearly 1.3 million tax returns filed for tax year 2023 utilized the Residential Clean Energy Credit (25D tax credit), according to the latest IRS clean energy tax credit statistics. Through