National Association of Home Builders Economic Research Blog
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 ...
Home Improvement Loan Applications Moderate as Borrower Profile Gradually Ages
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Home improvement activity has remained elevated in the post-pandemic period, but both the volume of loan applications and the age profile of borrowers have shifted in notable ways. Data from ...
Affordability Pyramid Shows Over Half of U.S. Households Cannot Buy a $300,000 Home
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NAHB recently released its 2026 Priced-Out Analysis, highlighting the housing affordability challenge. While previous posts discussed the impacts of rising home prices and interest rates on affordability, this post focuses ...
Housing’s Share of GDP Declined Further at the End of 2025
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Housing’s share of the economy was 16.0% in the fourth quarter of 2025, according to the latest estimates of GDP produced by the Bureau of Economic Analysis. This share is ...
Young Adult Headship Rates in 2024: Cyclical Slip or New Equilibrium?
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Reversing the post-pandemic rebound, the headship rates among young adults (the share of the population heading their own households) declined in 2024, according to NAHB’s analysis of the American Community ...
A 25-Basis-Point Decline in the Mortgage Rate Prices-In 1.42 Million Households
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Housing affordability remains a critical challenge nationwide, and mortgage rates continue to play a central role in shaping homebuying power. Although rates have declined from the recent peak of about ...
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 ...