In November 2025, employment levels were largely unchanged across all states, with year-over-year growth holding near 2%. In contrast, construction employment showed greater variation, with some states experiencing declines of
In September 2025, nonfarm payroll employment was largely unchanged across states on a monthly basis, with a limited number of states seeing statistically significant increases or decreases. This reflects generally
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
The housing affordability crisis continues to disproportionately affect renters, with more than half of renter households experiencing high-cost burdens — i.e., paying 30% or more of their income on rent
The share of young adults living with parents increased in 2024, interrupting the post-pandemic trend of moving out of parental homes. Nearly a third (32.5%) of adults ages 18-34 lived
International trade remains a source of volatility across the building materials sector, particularly in the softwood lumber market. Recent adjustments to antidumping and countervailing duty (AD/CVD) rates, combined with the
In August, single-family permit activity softened, reflecting caution among developers amid persistent economic headwinds. This trend has been consistent for eight continuous months. On the multifamily front, permitting also cooled
Real gross domestic product (GDP) increased in 48 states in the second quarter of 2025 compared to the first quarter, according to the U.S. Bureau of Economic Analysis (BEA). Mississippi and
In the second quarter of 2025, property tax revenue for state and local governments recorded a new high, although it decreased as a share of total tax revenue. . On
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
The latest government state employment report paints a mixed picture of the job market. While a few states saw modest employment gains, most areas showed little to no progress. The
Single-family housing permits slipped for the seventh month in a row, highlighting affordability headwinds and weak demand. While multifamily permits ticked up, the sector’s volatility leaves the outlook uncertain. The
The market value of household real estate assets rose to $49.3 trillion in the second quarter of 2025, according to the most recent release of U.S. Federal Reserve Z.1 Financial
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
Nonfarm payroll employment increased in 30 states and the District of Columbia in July compared to the previous month, while decreasing in 20 states. According to the Bureau of Labor
Single-family housing permits continued a downhill trend for the sixth month in a row. The continuous decline in single-family permits highlights persistently weak housing demand, tied to affordability challenges like