National Association of Home Builders Economic Research Blog

Comparing New and Resale Prices: 4Q25
Comparing New and Resale Prices: 4Q25
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In the fourth quarter of 2025, the median price for a new single-family home was $405,300, which was $9,600 lower than the median price of an existing home, which stood ...
Demolition Activity Slows Down But Remains Above Pre-Pandemic Levels
Demolition Activity Slows Down But Remains Above Pre-Pandemic Levels
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Residential demolition activity in 2025 declined 0.1% year-over-year but remained above pre-pandemic levels. According to NAHB analysis of data from Construction Monitor, permits pulled for residential demolition have been increasing ...
Value of Household Real Estate Assets Fall for Second Straight Quarter
Value of Household Real Estate Assets Fall for Second Straight Quarter
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The market value of household real estate assets fell for the second consecutive quarter to $47.9 trillion in the fourth quarter of 2025, according to the most recent release of ...
New Home Sales Decline in January on Weather Disruptions
New Home Sales Decline in January on Weather Disruptions
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New home sales declined in January, reflecting typical monthly volatility as well as weather-related disruptions. On a three-month moving average basis, sales remain broadly in line with a year ago, ...
Fourth Quarter 2025 Multifamily Construction Data
Fourth Quarter 2025 Multifamily Construction Data
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According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts increased year-over-year during the fourth quarter of 2025. For the quarter, 96,000 multifamily residences started ...
Holding Pattern Continues for the Fed
Holding Pattern Continues for the Fed
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The Fed continued its current pause for rate reductions at the conclusion of the March meeting of the Federal Open Market Committee, the central bank’s monetary policy body. The Fed ...
Building Material Price Growth Remains Entrenched Above 3%
Building Material Price Growth Remains Entrenched Above 3%
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Residential building material price growth accelerated in February after slowing a month prior, according to the latest Producer Price Index release from the Bureau of Labor Statistics. Since the BLS ...
Lumber Imports and Employment Fall
Lumber Imports and Employment Fall
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U.S. sawmill production was unchanged in the third quarter according to the Federal Reserve G.17 Industrial Production report. Utilization rates for sawmills and wood preservation industries remained near 70% despite ...
Best Year for Missing Middle Construction Since 2007
Best Year for Missing Middle Construction Since 2007
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While not a huge jump, 2025 featured the highest construction volume for multifamily missing middle housing starts. The missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and ...
Builder Sentiment Inches Higher but Affordability Concerns Persist
Builder Sentiment Inches Higher but Affordability Concerns Persist
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Builder sentiment inched up in March even as builders continue to express affordability concerns stemming from elevated construction costs and shortages of buildable lots and labor. Builder confidence in the ...
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A new research paper from NAHB Economics investigates how immigrants affect US housing demand. The study analyzes recent data from the American Community Survey (ACS) that has detailed information on the country of origin, age, family status and housing choices of newly arrived immigrants. The...

Professionals in the housing industry know that demography and housing are closely related. The total number of households and their respective forms are fundamental drivers of housing demand. With this in mind, we thought it would be interesting to take a quick look at the...

The homebuyer tax credit program is in the past for the housing industry. But we can begin to take a look back at the impact of the program using Internal Revenue Service data from 2009 to map where the tax credit was claimed by homebuyers....

As we enter into the last week of the 2010 tax filing season, it is a good time to look at some basic statistics concerning how construction firms, including home builders, organize for tax purposes and how much revenue they pay to the federal government....

The Government Accountability Office has released a report tallying the number of homebuyers benefitting from the homebuyer tax credit. The numbers are still incomplete as the IRS continues to process submitted claims. Further, some homebuyers will not claim the credit until the end of the...

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