The year-over-year (YOY) growth rate for residential building worker wages decelerated to 0.6% in June 2023. Over the past five months, wage growth accelerated moderately and reached 4.0% in November. Overall, average hourly earnings for residential building workers* increased at a relatively slower pace in the past year, compared to the peak rate of 8% in October 2021. According to… Read More ›

December’s jobs report concludes another solid year of job hiring in 2023. In December, total nonfarm payroll employment increased by 216,000, and the unemployment rate held steady at 3.7% for the second month. Job gains moderated in 2023 with an average 225,000 monthly employment growth but remained strong. In December, wage growth accelerated to a 4.1% year-over-year (YOY) growth rate,… Read More ›

With the end of 2023 approaching, NAHB’s Eye on Housing is reviewing the posts that attracted the most readers over the last year. At the end of 2022, Natalia Siniavskaia provided a new estimate for the current size of the U.S. housing deficit: The Size of the Housing Shortage: 2021 Data

With the end of 2023 approaching, NAHB’s Eye on Housing is reviewing the posts that attracted the most readers over the last year. In November, we reported on recent declines for custom home building construction starts. Declines for Custom Home Building

With the end of 2023 approaching, NAHB’s Eye on Housing is reviewing the posts that attracted the most readers over the last year. In October, Rose Quint examined consumer survey data showing growing buyer interest in the third quarter: Housing Demand Caught Between High Rates & Demographics

With the end of 2023 approaching, NAHB’s Eye on Housing is reviewing the posts that attracted the most readers over the last year. In March, Jesse Wade reported on recent geographic shifts for home construction. Single-Family Market Share Continues to Shift from Large Population Centers   More recent analysis finds ongoing gains for exurban areas: Amidst Housing Slowdown, Exurban Areas… Read More ›