Permits are off to a lower level to start the new year. Over the first month of 2025, the total number of single-family permits issued year-to-date (YTD) nationwide reached 73,115. On a year-over-year (YoY) basis, this is a decline of 3.7% over the January 2024 level of 75,906. For multifamily, the total number of permits…
Prices for inputs to new residential construction—excluding capital investment, labor, and imports—were up 0.5% in February according to the most recent Producer Price Index (PPI) report published by the U.S. Bureau of Labor Statistics. The increase in January was revised downward to 1.1%. The Producer Price Index measures prices that domestic producers receive for their…
Inflation slowed to a 3-month low in February, with decreases in airfares and gasoline partially offsetting shelter increases. Despite the easing, the report does not capture upcoming tariff impacts. The inflationary pressure from tariffs and trade war would weigh on the economy and complicate the Fed’s path to its 2% target. Meanwhile, while housing drove…
After a period of slowing associated with declines for some elements of the residential construction industry, the count of open construction sector jobs remained lower than a year ago, per the January Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The number of open jobs for the overall economy increased from 7.51 million…
Profitability for single-family home builders reached the highest levels in more than a decade in 2023. Industrywide profit benchmarks are important because they allow companies to compare their financial performance against the entire industry. Doing so can guide resource allocation, budgeting, and target setting for costs and expense lines. More broadly, understanding industry benchmarks can…
Housing affordability remains a critical issue, with 74.9% of U.S. households unable to afford a median-priced new home in 2025, according to NAHB’s latest analysis. With a median price of $459,826 and a 30-year mortgage rate of 6.5%, this translates to around 100.6 million households priced out of the market, even before accounting for further…
The U.S. job market continued to grow at a solid pace in February, with the unemployment rate edging up slightly to 4.1%. The labor market remains healthy overall, but there are signs of potential weakness in the coming months, driven by mass federal government layoffs and ongoing policy uncertainty. This month’s jobs report may not…
