National Association of Home Builders Economic Research Blog
New Home Sales Close 2025 with Modest Gains
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New home sales ended 2025 on a mixed but resilient note, signaling steady underlying demand despite ongoing affordability and supply constraints. The latest data released today (and delayed because of ...
U.S. Economy Ends 2025 on a Slower Note
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Real GDP growth slowed sharply in the fourth quarter of 2025 as the historic government shutdown weighed on economic activity. While consumer spending continued to drive growth, federal government spending ...
Delinquency Rates Normalize While Credit Card and Student Loan Stress Worsens
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Delinquent consumer loans have steadily increased as pandemic distortions fade, returning broadly to pre-pandemic levels. According to the latest Quarterly Report on Household Debt and Credit from the Federal Reserve ...
Overall Housing Starts Inch Lower in 2025
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Despite a strong finish in December, single-family home building dipped in 2025 as persistent affordability challenges continued to weigh on the market. Total housing starts for 2025 were 1.36 million, ...
How Housing Affordability Conditions Vary Across States and Metro Areas
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The NAHB 2026 priced-out estimates show that the housing affordability challenge is widespread across the country. In 39 states and the District of Columbia, over 65% of households are priced ...
Builder Sentiment Edges Lower on Affordability Concerns
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Builder confidence in the market for newly built single-family homes fell one point to 36 in February, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index ...
How Rising Costs Affect Home Affordability
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Housing affordability remains a critical issue, with 65% of U.S. households unable to afford a median-priced new home in 2026. When mortgage rates are elevated, even a small increase in ...
Cost of Credit for Builders & Developers at Its Lowest Since 2022
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The cost of credit for residential construction and development declined in the fourth quarter of 2025, according to NAHB’s quarterly survey on Land Acquisition, Development & Construction (AD&C) Financing. In ...
Inflation Eased in January
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Inflation eased to an eight-month low in January, confirming a continued downward trend. Though most Consumer Price Index (CPI) components have resolved shutdown-related distortions from last fall, the shelter index ...
Existing Home Sales Retreat Amid Low Inventory
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Existing home sales fell in January to a more than two-year low after December’s strong rebound, as tight inventory continued to push home prices higher and winter storms weighed on ...
