National Association of Home Builders Economic Research Blog
Property Tax Revenue Leads State and Local Tax Growth in Q1 2026
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Property tax revenue collected by state and local governments was higher in the first quarter of 2026 according to the Census Bureau’s quarterly summary of state and local tax revenue. ...
State-Level Economic Growth Strengthened in the First Quarter of 2026
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State economic growth strengthened in the first quarter of 2026, with real GDP increasing in 46 states and the District of Columbia. According to the Bureau of Economic Analysis (BEA), ...
PCE Inflation Hits 3-Years High in May
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As the Iran conflict pushed up energy prices, the Personal Consumption Expenditures (PCE) Price Index—the Federal Reserve’s preferred inflation gauge—accelerated to a three-year high in May. While oil and gasoline ...
Affordability Concerns Push New Home Sales Lower in May
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Elevated mortgage rates, rising inflation and economic uncertainty kept many buyers out of the market in May as consumers and builders continue to deal with challenging affordability conditions. While monthly ...
Sawmill Output Slips as Capacity Continues to Decline
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U.S. sawmill production fell in the first quarter, the second consecutive quarter of lower output according to the Federal Reserve G.17 Industrial Production report. Sawmill output has remained largely flat ...
State-Level Employment Situation: May 2026
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State labor market conditions remained mixed in May, with payrolls expanding in many states while job losses were concentrated in a smaller group of states and the District of Columbia ...
Structural Demand Outpacing Supply: Jobs-to-Permits Ratios Highlight Housing Gap
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Strong labor market growth continued to put pressure on the nation’s housing supply in 2024, as home building activity did not fully keep pace with demand driven by job gains. ...
