State-Level Employment Situation: November 2024
Nonfarm payroll employment increased in 38 states and the District of Columbia in November compared to the previous month, while it decreased in 12 states. According to the Bureau of…
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Existing Home Sales Increase in November
Despite higher mortgage rates and elevated home prices, existing home sales jumped to an 8-month high in November, marking the second month of annual increase in more than three years,…
Property Taxes Revenue Surpasses $200 Billion
State & local tax revenue from property taxes paid reached $203.9 billion in the third quarter of 2024 (seasonally adjusted), according to the Census Bureau’s quarterly summary of state &…
Single-Family Permits Up in October 2024
Over the first ten months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 846,446. On a year-over-year (YoY) basis, this is an increase of 9.4%…
Mortgage Activity Declines in November as Rates Continue to Increase
The Market Composite Index, a measure of mortgage loan application volume by the Mortgage Bankers Association’s (MBA) weekly survey, decreased 14.5%, month-over-month, in November on a seasonally adjusted (SA) basis….
Import Data for Residential Construction Materials
NAHB estimates that $184 billion worth of goods were used in the construction of both new multifamily and single-family housing in 2023. Additionally, we estimate that $13 billon of those…
Building Material Prices Increase in November Led by Lumber
Prices for inputs to new residential construction—excluding capital investment, labor, and imports—were unchanged in November according to the most recent Producer Price Index (PPI) report published by the U.S. Bureau…