National Association of Home Builders Economic Research Blog
Construction Labor Market Stable
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The count of open, unfilled positions in the construction industry was relatively unchanged in October, per the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The current level ...
Mortgage Activity Continued to Climb in November
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Mortgage activity continued to climb in November, posting the largest year-over-year increase in more than five years. Every major category increased on a year-over-year basis as mortgage rates continue to trend lower, led by strong increases in refinancing and adjustable-rate mortgage activity. The Mortgage Bankers Association’s (MBA) Market ...
Community Associations: A Growing Trend in 2024
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In 2024, 65.7% of all new single-family homes started were built within a community or homeowner’s association. This share increased from the 64.8% recorded in 2023, according to data tabulated ...
Mortgage Rates Continue to Trend Lower in November
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The average mortgage rate in November continued to trend lower to its lowest level in over a year. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.24% in November, ...
Number of Bathrooms in New Single-Family Homes in 2024
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Single-family homes started in 2024 typically had two full bathrooms, according to the U.S. Census Bureau’s Annual Survey of Construction. Homes with three full bathrooms continued to have the second ...
House Price Appreciation by State and Metro Area: Third Quarter 2025
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House prices continued to rise in the third quarter of 2025, though the pace of growth slowed as elevated mortgage rates, affordability challenges, and persistent economic uncertainty weighed on consumer ...
Single-Family Construction Loan Volume Rises in the Third Quarter
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Single-family construction lending picked up in the third quarter, amidst the overall cooling lending environment. Loan balances for 1-4 family construction grew to $91.2 billion in the third quarter, registering ...
About 7% of New Homes Are Teardowns
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In 2024, 6.9% of new single-family detached homes were teardowns (structures torn down and rebuilt in older neighborhoods), and another 20.1% were built on infill lots in older neighborhoods, according ...
Property Taxes by State – 2024
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Nationally, across the 87 million owner-occupied homes in the U.S., the average amount of annual real estate taxes paid in 2024 was $4,271, according to NAHB analysis of the 2024 ...
Share of New Homes with Decks Edges Lower
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The share of new homes with decks edged down from 17.6% in 2023 to a new all-time low of 17.4% in 2024, according to NAHB tabulation of data from the ...