The failure of several banks in 2023 and the ensuing stress in U.S. financial markets have had an effect that some builders and developers are beginning to notice, according to two recent NAHB surveys. In one of the surveys, roughly three-in-five builders and developers reported…
In a previous blog post, NAHB analyzed the national data released by BUILDER Magazine. Earlier this month, BUILDER Magazine also released Local Leaders data on the top 10 builders in the top 50 largest new-home markets in the U.S. (ranking determined by the number of…
Nonfarm payroll employment increased in 39 states and the District of Columbia in May compared to the previous month, while 11 states lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 339,000 in May, following a gain of…
The Top 10 builders captured 43.2% of new single-family home closings (i.e., sales) in 2022, the highest percentage on record based on data released by BUILDER Magazine; this is a 9 percentage point increase from 2021, the largest year-over-year increase since NAHB’s tracking began in…
Limited existing inventory combined with solid demand and improving supply chains helped push single-family starts to an 11-month high in May. This occurred despite elevated interest rates and ongoing challenges for housing affordability. Overall housing starts in May increased 21.7% to a seasonally adjusted annual…
Solid demand, a lack of existing inventory and improving supply chain efficiency helped shift builder confidence into positive territory for the first time in 11 months. Builder confidence in the market for newly built single-family homes in June rose five points to 55, according to…
Over the first four months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 268,205. On a year-over-year (YoY) basis, this is 29.0% below the April 2022 level of 377,713. Year-to-date ending in April, single-family permits declined in all four regions….
