In April 2020, total payroll employment in the United States fell by an unprecedented 20.5 million, following a loss of 1.4 million in March, as the COVID-19 pandemic brought the
The National Association of Home Builders developed the Single-Family Market Association Index (MAI) to measure how closely single-family building permits in metro areas follow national patterns. By comparing local and
Between February 2020 and June 2022, the U.S. labor market experienced the deepest downturn on record followed by the fastest recovery in at least a century. The COVID-19 pandemic disrupted
In August, the official, or standardly referenced, unemployment rate rose slightly to 4.3%, up from 4.2% in July. This marks the highest level in nearly four years, though it remains
House price growth continued to slow in the second quarter of 2025, as the housing market faces mounting pressure from high mortgage rates, elevated inventory, and persistent economic uncertainty. After
Single-family construction declined in the second quarter of 2025 for almost all tracked markets, according to the NAHB Home Building Geography Index (HBGI). Meanwhile, multifamily construction continued to expand in
While new homes remain largely unaffordable, builder efforts to improve housing affordability paid dividends in the second quarter of 2025, according to the latest data from the National Association of
An earlier post described how the top 10 builders in the country captured a record 44.7% of new single-family closings in 2024. BUILDER Magazine has now released additional data on
House price growth slowed in the first quarter of 2025, partly due to a decline in demand and an increase in supply. Persistent high mortgage rates and increased inventory combined
Single-family construction growth slowed substantially across all markets in the first quarter of 2025, according to the Home Building Geography Index (HBGI). Multifamily construction growth remained negative in the largest
Manufactured homes play a measurable role in the U.S. housing market by providing an affordable supply option for millions of households. According to the American Housing Survey (AHS), there are
Permits are off to a lower level to start the new year. Over the first month of 2025, the total number of single-family permits issued year-to-date (YTD) nationwide reached 73,115.
Housing affordability remains a critical issue, with 74.9% of U.S. households unable to afford a median-priced new home in 2025, according to NAHB’s latest analysis. With a median price of
Following two straight quarters of deceleration, house price appreciation accelerated slightly in the fourth quarter of 2024 due to the persistent high mortgage rates and low inventory. Although inventories of
The continued shortage of existing homes for sale has helped to keep new single-family construction growing across all regions, according to the latest National Association of Home Builders release of
In a clear sign illustrating the housing affordability challenges facing Americans, the National Association of Home Builders (NAHB)/Wells Fargo Cost of Housing Index (CHI) found that in the fourth quarter
Real GDP of metropolitan areas rose 2.7% in 2023, with the “real estate, rental and leasing” sector contributing 0.34 percentage points and construction contracting growth by 0.11 percentage points. While
House prices posted modest annual growth for the third quarter of 2024, as elevated mortgage rates kept many potential home buyers away from the housing market. Nonetheless, housing inventory has