While the housing market is showing signs of stabilizing after a period of cooling, housing affordability will decrease in the quarters ahead. Home prices are up more than 30%, on average nationwide since the start of 2020. And interest rates will rise as the Federal Reserve tightens monetary policy.
Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the second quarter of 2021 compared to the first quarter of 2021. According to the U.S. Bureau of Economic Analysis (BEA), the percent change increase in real GDP ranged from 9.7 percent in Nevada to 1.8 percent in Alaska. Nationwide, growth in real GDP, measured… Read More ›
NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 0.4% in August to a seasonally adjusted annual rate of $786.6 billion. Total private residential construction spending was 24.3% higher than a year ago. The monthly gains are attributed to the strong growth of spending on improvements, while spending on single-family and multifamily constructions slipped…. Read More ›
