National Association of Home Builders Economic Research Blog
Private Residential Construction Spending Slips in January
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Private residential construction spending declined 0.8% in January 2026, following two months of gains. This decline was driven by lower spending across single-family, multifamily construction, and home improvement. Despite the ...
Soft Construction Labor Market Shows Decline for Open Positions
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The number of open positions in construction in February was down year-over-year, per the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The current level of open jobs ...
NAHB HBGI: Micro Markets Lone Bright Spot for Single-Family Building in Fourth Quarter
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Single-family construction declined further in the fourth quarter in all but sparsely populated micro counties, according to the NAHB Home Building Geography Index (HBGI). Meanwhile, multifamily construction showed growth in ...
State/Local Property Tax Revenue Rises Past $210 Billion in the Fourth Quarter
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Property tax revenue collected by state and local governments rose for the ninth consecutive quarter according to the Census Bureau’s quarterly summary of state and local tax revenue. Total tax ...
Age of Housing Stock by State
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According to the latest data from the 2024 American Community Survey (ACS), the median age of owner-occupied homes has reached 42 years old. The age of the housing stock is ...
Almost Half of the Owner-Occupied Homes Built Before 1980
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Around 47% of the U.S. housing stock was built in the 1980s and earlier. The median age of owner-occupied homes climbed to 42 years old in 2024, up from 31 ...
Comparing New and Resale Prices: 4Q25
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In the fourth quarter of 2025, the median price for a new single-family home was $405,300, which was $9,600 lower than the median price of an existing home, which stood ...
Demolition Activity Slows Down But Remains Above Pre-Pandemic Levels
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Residential demolition activity in 2025 declined 0.1% year-over-year but remained above pre-pandemic levels. According to NAHB analysis of data from Construction Monitor, permits pulled for residential demolition have been increasing ...
Value of Household Real Estate Assets Fall for Second Straight Quarter
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The market value of household real estate assets fell for the second consecutive quarter to $47.9 trillion in the fourth quarter of 2025, according to the most recent release of ...
New Home Sales Decline in January on Weather Disruptions
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New home sales declined in January, reflecting typical monthly volatility as well as weather-related disruptions. On a three-month moving average basis, sales remain broadly in line with a year ago, ...
