National Association of Home Builders Economic Research Blog
U.S. Economy Loses 92,000 Jobs in February
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The U.S. labor market weakened in February, as payroll employment declined and the unemployment rate rose to 4.4%. The cooling labor market could place the Federal Reserve in a challenging ...
Builders Identify Key Long-Term Forces Shaping Housing Demand and Industry Health
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Home builders are keenly aware of the complex long-term outlook ahead for the home building industry. A recent NAHB/Wells Fargo HMI survey asked builders to assess the impact of 14 ...
Affordability Posts Mild Gains in Second Half of 2025 but Crisis Continues
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Though new and existing homes remain largely unaffordable, the needle moved slightly in the right direction in the second half of 2025, according to the latest data from the National ...
Mortgage Rates Dipped Below 6% in February Amid Treasury Rally
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Mortgage rates continued to decline in February, dipping below 6% in the last week of February. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.05% last month, 5 basis ...
House Price Appreciation by State and Metro Area: Fourth Quarter 2025
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U.S. house prices continued to rise at the close of 2025, though the pace of growth has slowed compared with the rapid gains of previous years. Elevated mortgage rates, affordability ...
Multifamily Absorption Rate Remains Below 50%
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The percentage of new apartment units that were absorbed within three months after completion was unchanged for new units completed in the second quarter, according to the Census Bureau’s latest ...
Private Residential Construction Spending Edges Higher in December
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Private residential construction spending was up 1.5% for the last month of 2025. This modest gain was driven primarily by increased spending on home improvements and single-family construction. Despite this ...
2024 Home Improvement Loan Applications: A State- and County-Level Analysis
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Residential improvement activity remained solid in 2024, though growth has moderated from the surge seen in 2022. The market continues to be supported by an aging housing stock, elevated homeowner ...
Gains for Student Housing Construction in the Last Quarter of 2025
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Private fixed investment for student dormitories was up 1.5% in the last quarter of 2025, reaching a seasonally adjusted annual rate (SAAR) of $3.9 billion. This gain followed three consecutive quarterly declines before rebounding in the final two quarters of the year. The elevated interest rates continued to weigh on student housing construction. Despite ...
Price Growth for Building Materials Slows to Start the Year
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Residential building material prices rose at a slower rate in January, according to the latest Producer Price Index release from the Bureau of Labor Statistics. This was the first decline ...