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…
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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…
Preference for New Homes Keeps Rising
The desirability of new homes continues to grow. Faced with the alternative of choosing between an existing home and a newly built home, 61% of home buyers in a recent…
Existing Home Sales Recede in April
Existing home sales fell for the second straight month in April, after a big monthly drop in March, according to the National Association of Realtors (NAR). Meanwhile, low resale inventory…
State Level Employment Situation: April 2024
Nonfarm payroll employment increased in 38 states and the District of Columbia in April compared to the previous month, while 11 states saw a decrease. Alaska reported no change during…