Housing’s share of the economy registered 16.3% in the second quarter of 2025, according to the advance estimate of GDP produced by the Bureau of Economic Analysis. This reading is unchanged from a revised level of 16.3% in the first quarter and is the same...
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 of the committee dissented from the decision (Fed Board Governors Waller and Bowman), the largest...
In the second quarter of 2025, the median price for a new single-family home was $410,800, which was $18,600 lower than the median price of existing homes, which stood at $429,400. This marks the largest historical gap where existing home prices exceeded those of new...
The count of open, unfilled positions in the construction industry held steady amid a slowdown for housing, per the June Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The number of open jobs for the overall economy decreased slightly from 7.71 million...
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 interest rates remaining elevated and housing supply still tight, housing affordability is at a multidecade...
In 2024, there were 24,000 homes that exceeded 5,000 square feet, equating to a 2.3% market share of all new homes started. Both the number and market share for 5,000+ square foot homes experienced declines from 2023, according to the annual data from the Census...
Challenging affordability conditions, elevated interest rates and economic uncertainty continue to act as headwinds on the housing sector as many potential buyers continue to stay on the sidelines. Sales of newly built single-family homes edged 0.6% higher in June, rising to a seasonally adjusted annual...
Existing home sales fell to 9-month low in June as home prices hit another monthly record high, according to the National Association of Realtors (NAR). Sluggish pace of sales suggest that higher mortgage rates and elevated home prices are continuing to sideline buyers, despite improved...
The majority of single-family home builders do not currently use Artificial Intelligence (AI) in their businesses. For the highest use, 20% of builders use AI to generate advertising/marketing materials and 11% to help analyze markets/plan projects. Less than 5% currently use this tool to help...
An earlier post described how the top 10 builders in the country captured a record 44.7% of new single-family closings in 2024. BUILDER Magazine has now released additional data on the top ten builders within each of the 50 largest new home markets in the...
The share of new single-family homes built with individual septic systems declined slightly in 2024 compared to the previous year, while the share of homes served by private wells remained steady. According to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC), approximately 16%...
From 2020 to 2024, sales of lower-priced new homes declined significantly as the market moved toward higher-priced segments. Rising construction costs—driven by inflation, supply chain disruptions, and labor shortages—as well as higher regulatory costs, made it increasingly difficult for builders to construct affordable homes. On...
Nonfarm payroll employment increased in 27 states in June compared to the previous month, while employment decreased in 23 states and the District of Columbia. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 147,000 in June following a gain...
Single-family housing starts declined in June to the lowest rate since July 2024 as elevated interest rates, rising inventories and ongoing supply-side issues continue to act as headwinds for the housing sector. Due to a solid increase in multifamily production, overall housing starts increased 4.6%...
Builder confidence for future sales expectations received a slight boost in July with the extension of the 2017 tax cuts, but elevated interest rates and economic and policy uncertainty continue to act as headwinds for the housing sector. Builder confidence in the market for newly...
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, price growth for services used in construction continues to outpace both domestic and imported goods. ...
Housing permits continued a downhill trend for the fifth month in a row, pointing to a broader residential construction slowdown for 2025. This slowdown is attributed to factors like higher mortgage rates, tariff concerns, and challenges about future housing demand due to economic uncertainty. Over...
Inflation rose to a 4-month high in June as consumer prices began to reflect tariff policy. The Consumer Price Index increased from 2.4% in May to 2.7% in June year-over-year, according to the Bureau of Labor Statistics’ report. Despite the increase, core inflation came in...
