The rising trend of two or more stories homes reversed in 2023, according to data obtained from the US Census Bureau’s Survey of Construction (SOC) and tabulated by NAHB. The share of homes started with two or more stories decreased for the first time in…
Consumer confidence weakened in June but remained within the range of the past two years, with optimism about current labor market conditions offsetting concerns about future economic outlook. However, higher interest rates and lingering inflation continue to discourage consumption. The Consumer Confidence Index, reported by…
Existing home sales fell for the third straight month in May due to lingering high mortgage rates and record-high prices, according to the National Association of Realtors (NAR). Low resale inventory and strong demand continued to drive up existing home prices, marking the eleventh consecutive…
Both overall and core inflation continued to ease in May as decline in gasoline price offset the increase the shelter cost. This is a dovish signal for future monetary policy. Despite a slowdown in the year-over-year increase, shelter costs continue to put upward pressure on…
NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the share of new home sales backed by VA loans climbed substantially in the first quarter of 2024, while all-cash sales share fell by nearly 30%. However, the median purchase…
After reaching the 12-month high last month, existing home sales retreated in March due to lingering high mortgage rates, according to the National Association of Realtors (NAR). Meanwhile, low resale inventory and strong demand continued to drive up existing home prices, marking the ninth consecutive…
Consumer prices continued to rise in March, with shelter and gasoline prices driving over half of the total increase. This marks the third consecutive strong reading. Despite a slowdown in the year-over-year increase, shelter costs continue to put upward pressure on inflation, accounting for over…
