State labor markets showed mixed results in August, with nonfarm payroll employment increasing in a majority of states. Construction employment also posted a net gain nationally, although employment trends varied across states. The unemployment rate also remained relatively low in …
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Builder Confidence Remains Low Amid Affordability Challenges
Builder sentiment remains low amid economic and geopolitical uncertainty, elevated mortgage rates and rising construction costs. Confidence in the market for newly built single-family homes inched up one point to 35 in August, according to the National Association of Home …
Read More »Residential Building Material Prices Rise in May
Residential construction building materials prices rose in May as energy prices continued to increase, according to the Bureau of Labor Statistics’ Producer Price Index. Prices for residential building materials jumped 4.4% year over year and 0.7% month over month in …
Read More »Builder Confidence Rises, Still Negative
Builder confidence inched higher to end the year but remains well into negative territory as builders continue to grapple with rising construction costs, tariffs and economic uncertainty, and as many potential buyers remain on the sidelines due to affordability concerns. …
Read More »Homeownership Rates Increase in Q3
The latest data from the United States Census Bureau’s Housing Vacancy Survey show the homeownership rate rose to 65.3%. Despite this quarterly increase, the trend continues to reflect significant affordability challenges. With mortgage interest rates remaining elevated and housing supply …
Read More »Remodelers Stay Optimistic Despite Ongoing Cost Pressures
The National Association of Home Builders (NAHB) released its NAHB/Westlake Royal Remodeling Market Index (RMI) for the third quarter of 2025, posting a reading of 60, a one point increase over Q2. “Overall, remodelers remain optimistic about the market, although …
Read More »Single-Family Housing Starts Rise Among Challenges
Single-family housing starts grew slightly in July as builders contine to deal with challenges with housing affordability, labor shortages and elevated construction costs. Led by multifamily construction, overall housing starts increased 5.2% in July to 1.43 million units, according to …
Read More »Remodeling Sentiment Down in Q1 2025
The National Association of Home Builders (NAHB) released its NAHB/Westlake Royal Remodeling Market Index (RMI) for Q1 2025, posting a reading of 63, down five points compared to the previous Q1 2025. Although 63 is still positive, this is the …
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