Builder Data & Analysis
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May Sees Housing Starts Retreat Amidst High Borrowing Costs
Single-family and multifamily housing starts declined in May, as high interest rates on construction and development loans, as well as rising mortgage rates, slowed housing supply and demand. According...
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High Mortgage Rates Cool Builder Confidence
Mortgage rates remain in the 7% level, and rising construction financing costs continue to dampen builder optimism. Builder confidence in the market for newly built single-family homes fell two...
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Private Residential Construction Spending Rising in April
After declining 0.4% in March, private residential building spending increased 0.1% in April, according to a post from National Association of Home Builders (NAHB). The seasonally corrected annual rate...
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New Home Preference Continues Rising
New homes’ appeal is just getting stronger. In a recent NAHB study, 61% of home buyers said their first choice is a newly constructed house when faced with the...
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Top Earners: States with Highest Construction Wages in 2024
According to the most recent Current Employment Statistics (CES) report from the Bureau of Labor Statistics (BLS), not seasonally adjusted (NSA) average hourly earnings (AHE) in construction climbed 5%...
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March Sees Significant Drop in Construction Jobs
The number of total job vacancies for the entire economy has decreased over the last year as monetary policy has tightened. This is consistent with a somewhat calmer economy,...
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NAHB: Private Residential Construction Spending Declines in March
According to the NAHB’s analysis of Census data, private residential construction spending fell 0.7% in March after rising 0.7% in February. It had a seasonally adjusted annual rate of...
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NAHB: Builder Sentiment Remained Unchanged in April
Builder sentiment was flat in April, as mortgage rates stayed close to 7% over the previous month and the latest inflation statistics failed to demonstrate improvement in the first...
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US Single-Family Permits Surge in February 2024
In the first two months of 2024, the total number of single-family permits issued nationwide year-to-date (YTD) reached 155,236. On a year-over-year (YoY) basis, this is a 38.4% rise...
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Building Material Costs Up in March, But Lumber Prices Soften
Inputs to residential construction, including building materials, increased for the fifth straight month according to the latest Producer Price Index (PPI) report by U.S. Bureau of Labor Statistics. The...
