• Job Openings Fall as Economy Slows October 4, 2022
    The count of open, unfilled jobs for the overall economy fell 10% in August, declining from almost 11.2 million to 10.05 million. The decline for open jobs reflects the beginnings of a labor market retreat as the economy slows due to aggressive tightening of monetary policy by the Fed. While the economy continues to face […]
    Robert Dietz
  • August Private Residential Spending Falls for Third Straight Month October 3, 2022
    Private residential construction spending declined 0.9% in August, as single-family construction spending slid amid surging mortgage rates. Private residential construction spending declined for the third consecutive month, standing at an annual pace of $921.9 billion, according to NAHB’s analysis of the Census Construction Spending data. However, this spending category was 12.5% higher year-over-year. The monthly […]
    Na Zhao
  • NAHB Builders’ Businesses Showed Significant Growth in 2021 September 30, 2022
    The business of the typical NAHB (National Association of Home Builders) builder grew significantly between 2020 and 2021, according to results from NAHB’s latest member census.  The 2021 NAHB census shows that the median gross revenue of an NAHB builder in 2021 was $3.3 million, up 26.9 percent from the previous year. NAHB reinstated its […]
    Paul Emrath
  • Almost Even Split Between Natural Gas and Electric Heating Systems in New Homes September 29, 2022
    The Census Bureau’s Survey of Construction (SOC) provides valuable information on the characteristics of new homes started construction, such as air conditioning and heating system installations. Air Conditioning In 2021, 97 percent of new single-family homes started had a central AC system, higher than 95.4 percent in 2020. The trend, going back to 2000, shows a steady […]
    Fan-Yu Kuo
  • New Homes Built with Private Wells and Individual Septic Systems in 2021 September 28, 2022
    According to NAHB Economics analysis of the Survey of Construction (SOC) data, almost 9% of new single-family homes started in 2021 are served by individual wells and 16% have private septic systems. These shares, however, vary widely across the nine Census divisions with the corresponding shares reaching 36% and 44% in New England – the […]
    Jing Fu
  • Consumer Confidence Rises to 5-Month High in September September 27, 2022
    Consumer confidence increased for the second straight month to the highest level since April, as solid job gains, declining gas prices and easing inflation contributed to more optimistic views of economy. However, spending plans were mixed. The purchasing intention to buy cars and major appliances increased, while the intention to buy homes fell due to […]
    Fan-Yu Kuo
  • New Home Sales Up in August: Will Decline Again with Higher Rates September 27, 2022
    A brief decline in mortgage rates helped to boost new home sales in August but sales are expected to move lower in the months ahead as rates have since moved higher and builder sentiment continues to fall due to declining housing affordability and ongoing supply chain bottlenecks. Sales of newly built, single-family homes in August […]
    Robert Dietz
  • Share of New Homes with Patios Sets Record for Sixth Consecutive Year September 26, 2022
    The share of homes built with patios hit a record high in 2021.  Of the roughly 1.1 million single-family homes started in 2021, 63 percent came with patios.  This number comes from NAHB tabulation of data from the Survey of Construction (conducted by the U.S. Census Bureau with partial finding from the Department of Housing […]
    Paul Emrath
  • Covid Era Impacts on Working from Home and Housing Market Impacts September 22, 2022
    While the COVID-19 pandemic has triggered many social and economic disruptions, it has also changed working arrangements and has accelerated the shift to work from home (WFH). During the COVID-19 outbreak in the early of 2020, many businesses across the United States closed and millions of workers experienced the work from home trend out of […]
    Jing Fu
  • Growth of Household Real Estate Market Value Slows in Q2 September 21, 2022
    The latest results from the Federal Reserve’s Z.1 Financial Accounts of the United States, i.e., the Flow of Funds, show that in the second quarter of 2022, growth of the market value of all owner-occupied real estate in the United States slowed after showed the largest year-over-year percentage gain since 2001 the prior quarter. The […]
    David Logan