National Association of Home Builders Economic Research Blog

The Size of the Housing Shortage: 2024 Data
The Size of the Housing Shortage: 2024 Data
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Persistently low homeowner and rental vacancy rates indicate that the U.S. housing market remains structurally undersupplied. Comparing 2024 abnormally low vacancy rates with long-run equilibrium levels across U.S. metropolitan markets, ...
Job Openings Fall as Labor Market Weakens
Job Openings Fall as Labor Market Weakens
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Running counter to the data for the full economy, the count of open, unfilled positions in the construction industry increased in December, per the delayed Bureau of Labor Statistics Job Openings ...
Builders’ Top Challenges for 2026
Builders’ Top Challenges for 2026
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The most significant challenge builders faced in 2025 was high interest rates, as reported by 84% of builders in the latest NAHB/Wells Fargo Housing Market Index survey.  A smaller, albeit still ...
Mortgage Rates Declined Despite Higher Treasury Yields
Mortgage Rates Declined Despite Higher Treasury Yields
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Long-term mortgage rates continued to decline in January. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.10% last month, 9 basis points (bps) lower than December. Meanwhile, the 15-year ...
Homeownership Rate Inches Up to 65.7%
Homeownership Rate Inches Up to 65.7%
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The latest homeownership rate rose to 65.7% in the last quarter of 2025, according to the Census’s Housing Vacancy Survey (HVS). While this was a modest quarterly increase, the broader ...
U.S. Population Growth Slows in 2025
U.S. Population Growth Slows in 2025
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According to the U.S. Census Bureau’s latest estimates, the U.S. resident population grew by 1,781,060 to a total population of 341,784,857. The population grew at a rate of 0.5%, a ...
Bathroom Remodeling Is Most Common Project in 2025
Bathroom Remodeling Is Most Common Project in 2025
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Every quarter, the National Association of Home Builders (NAHB) conducts a survey of professional remodelers. The first part of the survey collects the information required to produce the NAHB/Westlake Royal ...
Saving Rate Falls to 3.5% in November
Saving Rate Falls to 3.5% in November
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Personal income rose 0.3% in November 2025, following a 0.1% increase in October, according to the latest data from the Bureau of Economic Analysis. Gains were largely driven by higher ...
Holding Pattern for the Fed
Holding Pattern for the Fed
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The Fed paused its easing cycle at the conclusion of the January meeting of the Federal Open Market Committee, the central bank’s monetary policy body. The Fed held the short-term ...
State-Level Employment Situation: December 2025
State-Level Employment Situation: December 2025
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With few exceptions, year-over-year nonfarm employment levels were relatively stable across states at the end of 2025, ranging from a decline of 4.2 percent to a gain of 1.8 percent. ...
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