The housing affordability crisis continues to disproportionately affect renters, with more than half of renter households experiencing high-cost burdens — i.e., paying 30% or more of their income on rent and utilities. At the same time, current home owners, buoyed by significant home equity gains...
The long-delayed September jobs report revealed that the U.S. economy added 119,000 jobs while the unemployment rate climbed to its highest level in nearly four years. Combined with downward revisions to previous months, this month’s data indicates a slowing of the U.S. labor market, though...
Existing home sales rose to an eight-month high in October as buyers took advantage of lower mortgage rates, according to the National Association of Realtors (NAR). Resale inventory improved from a year ago but remained below pre-pandemic levels. Relatively tight supply continued to push home...
The share of young adults living with parents increased in 2024, interrupting the post-pandemic trend of moving out of parental homes. Nearly a third (32.5%) of adults ages 18-34 lived with their parents according to the latest 2024 American Community Survey (ACS). This is up...
The value of a single-family home depends not only on its physical features but also on its location and neighborhood context. In this second part of our two-part series, we examine how geography and neighborhood quality further influence single-family detached home values across the United...
Market uncertainty exacerbated by the government shutdown along with economic uncertainty stemming from tariffs and rising construction costs kept builder confidence firmly in negative territory in November. Builder confidence in the market for newly built single-family homes rose one point to 38 in November, according...
Private residential construction spending inched up 0.8% in August, continuing steady growth since June 2025. This modest increase was primarily driven by more spending on multifamily construction and home improvements. However, total spending was 2% lower than a year ago, as the housing sector continues...
The value of a single-family home is shaped by many factors, but its physical features remain among one of the most influential. Using the latest 2023 American Housing Survey (AHS), this study focuses on which home features genuinely boost single-family detached home values and by...
Credit conditions on loans for residential Land Acquisition, Development & Construction (AD&C) were still tightening in the third quarter of 2025, according to NAHB’s quarterly survey on AD&C Financing. The net easing index derived from the survey posted a reading of -11.0 (the negative number...
Lending standards for most types of residential mortgages were essentially unchanged, according to the recent release of the Senior Loan Officer Opinion Survey (SLOOS). For commercial real estate (CRE) loans, lending standards for construction & development were modestly tighter, while multifamily was essentially unchanged. Demand for...
All types of mortgage activity rose on a year-over-year basis in October, supported by recent declines in interest rates. Notably, adjustable-rate mortgage (ARM) applications more than doubled from a year ago, and refinancing activity continued to strengthen. The Mortgage Bankers Association’s (MBA) Market Composite Index,...
In April 2020, total payroll employment in the United States fell by an unprecedented 20.5 million, following a loss of 1.4 million in March, as the COVID-19 pandemic brought the economy to a sudden halt. The unemployment rate surged by 10.4 percentage points to 14.8%...
Overall consumer credit continued to rise for the third quarter of 2025, but the pace of growth remains slow. Student loan balances continue to rise as well, slowly returning to pre-COVID growth. Furthermore, credit card and auto loan balances continue to grow but at historically...
International trade remains a source of volatility across the building materials sector, particularly in the softwood lumber market. Recent adjustments to antidumping and countervailing duty (AD/CVD) rates, combined with the imposition of Section 232 tariffs, have increased the trade-related cost of Canadian imports. As a...
As the nation’s housing stock continues to age and new homes remain out of reach for many buyers, remodeling is capturing a growing share of the residential construction market, both in terms of the number of firms and employment. With most U.S. households unable to...
Following the release of the 2024 single-family MAI last week, the National Association of Home Builders developed the Multifamily Market Association Index (MAI) to measure how closely multifamily building permits in metro areas follow national patterns. By comparing local and national trends, the MAI helps...
Confidence in the market for new multifamily housing increased year-over-year in the third quarter, according to the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB). The MMS produces two separate indices. The Multifamily Production Index (MPI) had a reading...
Three-bedroom single-family homes reached their largest share of starts since 2011 and remained the most prevalent number of bedrooms among new homes. The share of starts for four-bedroom homes declined for the third consecutive year but remained well above the shares for two-bedroom or less...
