With the end of 2024 approaching, NAHB’s Eye on Housing is reviewing the posts that attracted the most readers over the last year. In March, Jing Fu compared homeowners and renters’ major assets, debt and net worth, as well as differences between age groups. As examined in a previous post, homeownership plays an integral role…
With the end of 2024 approaching, NAHB’s Eye on Housing is reviewing the posts that attracted the most readers over the last year. In October, Jesse Wade shared the average real estate tax by state and also an effective rate controlling for home value. Nationally, across the 86 million owner-occupied homes in the U.S., the…
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 & local tax revenue. This marks a 2.8% increase from the revised $198.3 billion in the second quarter of 2024 and also marks the first quarter where…
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 increased 13.3%, rising from $99 billion. Total goods imported was valued at $289 billion while the exports were valued at $177 billion in October. The…
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 goods were imported from outside of the U.S. These figures lead to 7% of all goods used in new residential construction originating from a foreign…
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 of Labor Statistics. Compared to a year ago, this index was up 0.7% in November after rising 0.3% in October. The inputs to the new…
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 states, reliance on foreign-born labor is particularly evident, with immigrants comprising over 40% of the construction workforce in California and New Jersey, and 38% –…
