Residential construction activity began 2026 on a mixed note, with single-family permitting weakening significantly while multifamily activity remained relatively stable. Higher borrowing costs and affordability constraints continue to weigh on
In 2025, the Bureau of Economic Analysis (BEA) reported that real gross domestic product (GDP) expanded nationally, with growth recorded across all states and the District of Columbia. The increase
The U.S. labor market began the year on firmer footing, with job growth rebounding in January after a subdued performance in 2025. Employment gains were widespread across most states, though
Single-family permitting softened over the course of 2025 and finished the year weaker than the prior year. After showing some resilience in 2024, permitting activity gradually lost momentum as elevated
U.S. house prices continued to rise at the close of 2025, though the pace of growth has slowed compared with the rapid gains of previous years. Elevated mortgage rates, affordability
Residential improvement activity remained solid in 2024, though growth has moderated from the surge seen in 2022. The market continues to be supported by an aging housing stock, elevated homeowner
Reversing the post-pandemic rebound, the headship rates among young adults (the share of the population heading their own households) declined in 2024, according to NAHB’s analysis of the American Community
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
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.
In the third quarter of 2025, the Bureau of Economic Analysis (BEA) reported that real gross domestic product (GDP) expanded nationally, with growth recorded across all states and the District
In October, single-family building permits weakened, reflecting continued caution among builders amid affordability constraints and financing challenges. In contrast, multifamily permit activity remained steady and continued to perform relatively well.
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
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
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