National Association of Home Builders Economic Research Blog
Remodeling Market Sentiment Edges Down but Remains Positive in First Quarter
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In the first quarter of 2026, the NAHB/Westlake Royal Remodeling Market Index (RMI) posted a reading of 62, down two points compared to the previous quarter. Despite this decline, the overall reading ...
Remodelers Saw Profit Margin Gains in 2024
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Profitability for residential remodelers reached its highest level in more than two decades in 2024. Industry-wide profit benchmarks are important because they allow companies to evaluate their financial performance in ...
Rising Rates Weigh on Mortgage Activity
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Mortgage application activity decreased month-over-month as the 30-year fixed mortgage rate rose. The Mortgage Bankers Association’s (MBA) Market Composite Index, a measure of total mortgage application volume, declined 4.3% from ...
Which States and Construction Trades Depend the Most on Immigrant Workers?
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Immigrants’ share of the construction workforce reached a record high in 2024, with foreign-born workers accounting for more than a quarter of the industry’s labor force (26.3%). The share is ...
Job Growth Rebounds in March
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The U.S. labor market showed signs of a modest rebound in March following a weak February, as payroll employment increased and the unemployment rate edged down to 4.3%. Job growth ...
Iran Conflict Reverses Decline in Mortgage Rates
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Mortgage rates, which dipped below 6% in February, climbed back up to end the month just under 6.4%. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.18% in March, ...
Consumer confidence in March rose to a three-month high as consumers’ improved view of current business and labor market conditions outweighed weaker future expectations. Despite the increase, consumers remained concerned ...
Private Residential Construction Spending Slips in January
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Private residential construction spending declined 0.8% in January 2026, following two months of gains. This decline was driven by lower spending across single-family, multifamily construction, and home improvement. Despite the ...
Soft Construction Labor Market Shows Decline for Open Positions
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The number of open positions in construction in February was down year-over-year, per the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The current level of open jobs ...
NAHB HBGI: Micro Markets Lone Bright Spot for Single-Family Building in Fourth Quarter
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Single-family construction declined further in the fourth quarter in all but sparsely populated micro counties, according to the NAHB Home Building Geography Index (HBGI). Meanwhile, multifamily construction showed growth in ...
