Over the first four months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 336,124. On a year-over-year (YoY) basis, this is an increase of 25.3%
Despite higher mortgage rates, limited resale inventory and strong growth in demand continued to put upward pressure on house prices. House price appreciation was recorded in all 50 states and
According to the latest 2022 ACS, 11.2 million people, including self-employed workers, worked in construction in 2022. NAHB estimates that out of this total, 4.7 million people worked in residential
Nonfarm payroll employment increased in 38 states and the District of Columbia in April compared to the previous month, while 11 states saw a decrease. Alaska reported no change during
Over the first three months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 241,311. On a year-over-year (YoY) basis, this is an increase of 25.9%
Reflecting persistent long-term labor challenges, wages in construction continue to rise, often outpacing and exceeding typical earnings in other industries. Not seasonally adjusted (NSA) average hourly earnings (AHE) in construction
Nonfarm payroll employment increased in 44 states in March compared to the previous month, while six states and the District of Columbia saw a decrease. According to the Bureau of
Over the first two months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 155,236. On a year-over-year (YoY) basis, this is an increase of 38.4%
Real gross domestic product (GDP) increased in 49 states and the District of Columbia in 2023 according to the U.S. Bureau of Economic Analysis (BEA). Delaware is the only state to
The Census Bureau’s Quarterly Summary of State & Local Tax Revenue shows a 1.3% increase in property taxes paid, rising from $769.2 to $778.9 billion (SA, trailing four quarter sum)
Nonfarm payroll employment increased in 43 states and the District of Columbia in February compared to the previous month, while seven states saw a decrease. According to the Bureau of
As we reported earlier, immigrants make one in four construction workers. The share is significantly higher (31%) among construction tradesmen. In some states, reliance on foreign-born labor is particularly evident,
Over the first month of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 75,906. On a year-over-year (YoY) basis, this is an increase of 43.1% over
Nonfarm payroll employment increased in 42 states and the District of Columbia in January compared to the previous month, while eight states saw a decrease. According to the Bureau of
An earlier post published last month shows that young adults ages 25-34 continued the post-pandemic trend of moving out of parental homes with the share of those living with parents
Over 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 909,227. On a year-over-year (YoY) basis, this is 6.5% below the December 2022 level of 972,180. Year-to-date
According to the Federal Reserve Board’s January 2024 Senior Loan Officer Opinion Survey (SLOOS), lending standards loosened for all commercial real estate (CRE) loan categories and residential real estate (RRE) categories in
Nonfarm payroll employment increased in 39 states and the District of Columbia in December compared to the previous month, while 11 states saw a decrease. According to the Bureau of