With the end of 2023 approaching, NAHB’s Eye on Housing is reviewing the posts that attracted the most readers over the last year. Two such posts focused on the aging housing stock, a key driver of remodeling and new construction conditions. In February, Na Zhao reported the latest data on the age of the housing stock. The Aging Housing Stock… 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. Two such posts focused on home prices and construction costs.  In November, Natalia Siniavskaia examined 2022 Census data to report regional differences for pricing of different kinds of home construction: Square Foot Prices More than Double Inflation… Read More ›

Elevated mortgage rates acted as a drag on new home sales in November, but with the economy now apparently past peak interest rates for this cycle, sales are expected to rise as we move into the new year. Sales of newly built, single-family homes in November fell 12.2% to a 590,000 seasonally adjusted annual rate, according to newly released data… Read More ›

NAHB analysis of the Census Bureau’s quarterly state and local tax data shows that $129 billion in taxes were paid by property owners in the third quarter of 2023 (not seasonally adjusted).[1] In the four quarters ending Q3 2023, state and local governments collected $757 billion of property tax revenue—an 11.6% increase over Q3 2022. The year-over-year growth rate of property tax revenue… Read More ›

Consumer confidence jumped to a five-month high as consumers were more optimistic about inflation and the economic outlook. This optimism was primarily driven by slowing inflation, expectations of lower interest rates, and fading fears of recession. The Consumer Confidence Index, reported by the Conference Board, rose 9.7 points from 101.0 to 110.7 in December, the highest level since August 2023…. Read More ›

Existing home sales rose in November from a 13-year low, ending a five-month decline, according to the National Association of Realtors (NAR). This increase in sales was driven by a strong gain in the South, where homes are considered more affordable. Low inventory and strong demand continued to drive up existing home prices. However, recent declines in mortgage rates and… Read More ›