Federal Tax Return Itemization and the Mortgage Interest Deduction
Since the passage of the Tax Cuts and Jobs Act (TCJA) in 2017, tax returns that itemize Schedule A deductions, such as the mortgage interest deduction (MID) , have fallen…
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All-Cash Sales Remained at a Three-Year Low for the Second Quarter
All-cash purchases accounted for 6.9% of new home sales in the second quarter of 2024, the lowest level since the fourth quarter of 2021, revealed by NAHB analysis of the…
Sawmill Production Declines During First Quarter
The production index for sawmills and wood preservation industries fell at the start of 2024 to 91.9 in the first quarter (the index measures real output during 2017 at a…
Remodeling Market Sentiment Holds Steady in Second Quarter
The NAHB/Westlake Royal Remodeling Market Index (RMI) for the second quarter of 2024 posted a reading of 65, down one point compared to the previous quarter. The RMI remains solidly…
Mixed Employment Data in May
Despite high interest rates, job growth accelerated in May, but the unemployment rate increased to 4.0%. Overall, the labor market remains strong, but there are signs of slowing, which signals…
Single-Family and Multifamily Production Headed in Opposite Directions Across Geographies
Fueled by a lack of existing inventory and pent-up demand, single-family permit growth is occurring across all tracked geographic regions of the nation. The opposite holds true for the multifamily…
Home Building Employment across States and Congressional Districts in 2022
According to the latest 2022 ACS, 11.2 million people, including self-employed workers, worked in construction in 2022. NAHB estimates that out of this total, 4.7 million people worked in residential…