National Association of Home Builders Economic Research Blog
Existing Home Sales Edge Higher in November
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Existing home sales rose for the third consecutive month in November as lower mortgage rates continued to boost home sales, according to the National Association of Realtors (NAR). However, the ...
Lumber Capacity Lower Midway Through 2025
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Sawmill production has remained essentially flat over the past two years, according to the Federal Reserve G.17 Industrial Production report. This most recent data release contained an annual revision, which ...
Inflation Slows in November (with a Caveat)
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Inflation unexpectedly eased in November, according to the Bureau of Labor Statistics (BLS) latest report. This data release was originally scheduled for December 10 but was delayed due to the ...
Homelessness Increased to a Record-High in 2024
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In 2024, the number of people experiencing homelessness increased to the highest estimate in the history of HUD’s Annual Point-in-Time (PIT) Count. Approximately 771,500 people were recorded as living in an emergency shelter, a transitional housing program, or in unsheltered ...
Job Market Shows Signs of Cooling in November
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In November, job growth slowed, and the unemployment rate rose to 4.6%, its highest level in four years. At the same time, job gains for the previous two months (August ...
Builder Sentiment Inches Higher but Ends the Year in Negative Territory
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Builder confidence inched higher to end the year but still remains well into negative territory as builders continue to grapple with rising construction costs, tariff and economic uncertainty, and many ...
Homeownership Rate Inches Up to 65.3%
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The latest homeownership rate rose to 65.3% in the third quarter of 2025, according to the Census’s Housing Vacancy Survey (HVS). Despite this quarterly increase, the trend continues to reflect ...
No Risk-Free Path: Fed Eases Monetary Policy
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The central bank’s Federal Open Market Committee (FOMC) cut rates a third and final time in 2025, reducing the target range for the federal funds rate by 25 basis points ...
Construction Labor Market Stable
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The count of open, unfilled positions in the construction industry was relatively unchanged in October, per the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The current level ...
Mortgage Activity Continued to Climb in November
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Mortgage activity continued to climb in November, posting the largest year-over-year increase in more than five years. Every major category increased on a year-over-year basis as mortgage rates continue to trend lower, led by strong increases in refinancing and adjustable-rate mortgage activity. The Mortgage Bankers Association’s (MBA) Market ...
