Eye On Housing (NAHB)

The National Association of Home Builders (NAHB) is a trade organization located in Washington, D.C., representing over 140,000 members who work in various sectors of home construction. This includes areas such as home building, remodeling, multifamily projects, property management, subcontracting, design, housing finance, and the manufacturing of building products. NAHB collaborates with more than 700 local and state home builders associations across the nation. The organization plays a key role in assisting its members in creating vibrant communities. Each year, NAHB members are responsible for constructing approximately 80% of all new homes in the United States, covering both single-family and multifamily dwellings.

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Fed Remains on Pause with Rising Uncertainty

1 week ago | eyeonhousing.org | Robert Dietz

The Federal Reserve remained on pause with respect to rate cuts at the conclusion of its May meeting, maintaining the federal funds rate in the 4.25% to 4.5% range.
Jobs Openings Fall as Economy Slows

2 weeks ago | eyeonhousing.org | Robert Dietz

Consistent with soft sentiment data, the count of job openings for the overall economy and construction fell in March as employers slowed hiring plans amid a broader economic slowdown, per the March Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The number of open jobs for the overall economy declined from 7.48 million in February to 7.19 million in March.
New Home Sales Rise in March

3 weeks ago | eyeonhousing.org | Robert Dietz

A modest decline in mortgage rates and lean existing inventory helped boost new home sales in March even as builders and consumers contend with uncertain market conditions. Sales of newly built, single-family homes in March increased 7.4% to a 724,000 seasonally adjusted annual rate from a revised January number, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Builder Confidence Levels Indicate Slow Start for Spring Housing Season

4 weeks ago | eyeonhousing.org | Robert Dietz

Growing economic uncertainty stemming from tariff concerns and elevated building material costs kept builder sentiment in negative territory in April, despite a modest bump in confidence likely due to a slight retreat in mortgage interest rates in recent weeks. Builder confidence in the market for newly built single-family homes was 40 in April, edging up one point from March, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI).
Soft Job Openings Estimate for Construction

1 month ago | eyeonhousing.org | Robert Dietz

After a period of slowing associated with declines for some elements of the residential construction industry, the count of open construction sector jobs remained lower than a year ago, per the February Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The number of open jobs for the overall economy declined from 7.76 million in January to 7.57 million in February.
Slight Decline in Rates Helps New Home Sales to Edge Higher in February

1 month ago | eyeonhousing.org | Robert Dietz |Jing Fu

A slight decline in mortgage rates and limited existing inventory helped new home sales to edge higher in February even as housing affordability challenges continue to act as a strong headwind on the market. Sales of newly built, single-family homes in February increased 1.8% to a 676,000 seasonally adjusted annual rate from a revised January number, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Fed Remains in Wait and See Mode

1 month ago | eyeonhousing.org | Robert Dietz |Eric Lynch

In a widely anticipated move, the Federal Reserve remained on pause with respect to rate cuts at the conclusion of its March meeting, maintaining the federal funds rate in the 4.25% to 4.5% range. While the central bank acknowledged that the economy remains solid, it emphasized a data- and policy-dependent approach to future monetary policy decisions due to increased uncertainty.
Single-Family Housing Starts Hit 12-Month High in February

1 month ago | eyeonhousing.org | Jing Fu |Robert Dietz

Limited existing inventory helped single-family starts to post a solid gain in February, but builders are still grappling with elevated construction costs stemming from tariff issues and persistent shortages related to buildable lots and labor. Overall housing starts increased 11.2% in February to a seasonally adjusted annual rate of 1.50 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Home Building Employment across States and Congressional Districts in 2023

1 month ago | eyeonhousing.org | Natalia Siniavskaia |Robert Dietz |Jing Fu

As the number of housing units under construction peaked in 2023, the industry set another record employing close to 11.4 million people, including self-employed workers. NAHB estimates that out of this total, 4.7 million people worked in residential construction, accounting for 2.9% of the U.S. employed civilian labor force.
Builder Confidence Falls on Cost Uncertainty

1 month ago | eyeonhousing.org | Robert Dietz |Rose Quint

Economic uncertainty, the threat of tariffs and elevated construction costs pushed builder sentiment down in March even as builders express hope that a better regulatory environment will lead to an improving business climate. Builder confidence in the market for newly built single-family homes was 39 in March, down three points from February and the lowest level in seven months, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI).