Builder Sentiment Posts Notable Decline on Economic Uncertainty
Builder confidence for new single‑family homes slipped to 34 in April, the lowest reading since September 2025, according to the NAHB/Wells Fargo Housing Market Index. The decline reflects persistent high mortgage rates, rising material costs tied to higher fuel prices, and broader economic uncertainty from geopolitical tensions and waning consumer confidence. About 62% of builders say supplier costs have risen, while 70% struggle to price homes amid volatile inputs. Price cuts and sales incentives remain common, with 36% of builders reducing prices and 60% offering incentives.
Single-Family Permits Decline Sharply to Start 2026
Residential construction entered 2026 with a stark split between housing segments. Single‑family permits dropped 15.2% year‑over‑year to 62,034 units, reflecting higher borrowing costs and tightening affordability. Multifamily permits held steady, slipping only 0.5% to 38,215 units, showing resilience amid regional...
2025 Regional and State-Level GDP Data
The Bureau of Economic Analysis reported that U.S. real GDP grew 2.1% in 2025, marking a modest expansion after stronger prior years. Every state posted positive growth, but the pace varied widely, from a 3.1% increase in Florida and South...
State-Level Employment Situation: January 2026
The U.S. labor market rebounded in January 2026, with total nonfarm payrolls rising by 160,000 jobs after a sluggish 2025. Employment gains occurred in 45 states, led by California (+93,500) and Texas (+40,100), while the District of Columbia posted the...
Inflation Surged to a Nearly Two-Year High in March
U.S. consumer prices jumped to a near two‑year high in March, with the CPI climbing 3.3% year‑over‑year, the strongest gain since May 2024. The surge was driven primarily by energy costs, as gasoline prices topped $4 per gallon for the first...
Remodeling Market Sentiment Edges Down but Remains Positive in First Quarter
The NAHB/Westlake Royal Remodeling Market Index (RMI) posted a reading of 62 in Q1 2026, slipping two points from the previous quarter but remaining comfortably above the neutral 50 mark that separates optimism from pessimism. The index aggregates the Current...
Rising Rates Weigh on Mortgage Activity
Mortgage activity slipped in March as the average 30‑year fixed rate climbed to 6.37%, up 13 basis points from February. The Mortgage Bankers Association’s Market Composite Index fell 4.3% month‑over‑month, though it remains 30.8% above a year ago. Refinance applications...
Which States and Construction Trades Depend the Most on Immigrant Workers?
The article draws a sharp distinction between legal immigrants and undocumented migrants working in U.S. construction, arguing that the former are assimilating citizens while the latter lack long‑term plans and send large remittances abroad. It claims that illegal workers undermine...
Job Growth Rebounds in March
The U.S. labor market posted a modest rebound in March, with nonfarm payrolls rising by 178,000 after a revised February loss of 133,000 jobs. The unemployment rate slipped to 4.3%, while job gains were led by healthcare, construction, and transportation...
Private Residential Construction Spending Slips in January
Private residential construction spending slipped 0.8% in January 2026 after two months of gains, pulling the sector back to a modest year‑over‑year increase of 2.3%. Single‑family construction fell 0.2% month‑over‑month, while multifamily dropped 0.7%, reflecting softer builder confidence. Home‑improvement spending...
Soft Construction Labor Market Shows Decline for Open Positions
The Bureau of Labor Statistics reported that construction job openings fell to 202,000 in February, down from 230,000 in January and 255,000 a year earlier. Overall U.S. job openings slipped to 6.88 million, a decline from January’s 7.24 million. The...
NAHB HBGI: Micro Markets Lone Bright Spot for Single-Family Building in Fourth Quarter
The NAHB Home Building Geography Index shows single‑family construction fell in every market except sparsely populated micro counties, which posted a 1.6% year‑over‑year gain in Q4 2025. Large metro core counties experienced the steepest decline at 12.8%. In contrast, multifamily permits...
Almost Half of the Owner-Occupied Homes Built Before 1980
Nearly half of U.S. owner‑occupied homes were built before 1980, pushing the median home age to 42 years in 2024, up from 31 years in 2005. New construction from 2020‑2024 added just 3.6 million units—only 4% of the total stock—while homes...
Comparing New and Resale Prices: 4Q25
In Q4 2025 the median price of a new single‑family home was $405,300, about $9,600 lower than the $414,900 median for existing homes. This marks the third straight quarter where existing‑home prices exceed new‑home prices, a reversal of a decade‑long premium....
Demolition Activity Slows Down But Remains Above Pre-Pandemic Levels
Residential demolition permits slipped 0.1% year‑over‑year in 2025 but remain 34.2% above 2018 levels, indicating sustained activity above pre‑pandemic norms. The market stays heavily concentrated in California, Florida and New Jersey, with New Jersey now the third‑largest source, overtaking Texas...
