NAHB Now
- Eliminating Excessive Regulations Will Ease the Nation’s Housing Affordability CrisisExcessive government regulations are frustrating the efforts of home builders and multifamily developers to build more housing and address the nation’s housing affordability crisis, NAHB told Congress today.
- Millennial Buyers Prefer Better, Not Bigger HomesAs the housing industry celebrates New Homes Month in April, millennial buyers say they are willing to compromise when it comes to space. NAHB analysis found that millennial buyers prefer more square footage than other generations, but most would choose a smaller feature-rich home for the same purchase price.
- Uncertainty Reigns as 'Liberation Day' on Tariffs ApproachesPresident Trump has hailed April 2 as “Liberation Day,” when he said he will announce global tariffs that could have far-reaching ramifications for the residential construction industry.
- NHE Grants Support 8 Universities' Workforce Development GoalsThe National Housing Endowment (NHE), NAHB’s philanthropic arm, created its Homebuilding Education Leadership Program (HELP) to encourage the development of residential construction programs at academic institutions to address the current issues in home building, including increasing the number of qualified college graduates able to enter the workforce.
- Total Property Tax Collections Hit Record High in 2024Property tax revenue collected by state and local governments reached a new high in 2024 and continued as the largest single contributor to state and local revenue.
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Eye On Housing
- Private Residential Construction Spending Rises in February Private residential construction spending increased by 1.3% in February, rebounding from a 1.2% dip in January. The growth was largely driven by higher spending on single-family construction and residential improvements. On a year-over-year basis, the February report showed a 1.6% gain, indicating a modest growth in private residential construction spending during market uncertainties. The monthly...
- Soft Job Openings Estimate for ConstructionAfter a period of slowing associated with declines for some elements of the residential construction industry, the count of open construction sector jobs remained lower than a year ago, per the February Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The number of open jobs for the overall economy declined from 7.76 million...
- Affordability Pyramid Shows 94 Million Households Cannot Buy a $400,000 Home NAHB recently released its 2025 Priced-Out Analysis, highlighting the housing affordability challenge. While previous posts discussed the impacts of rising home prices and interest rates on affordability, this post focuses on the related U.S. housing affordability pyramid. The pyramid reveals that 70% of households (94 million) cannot afford a $400,000 home, while the estimated median...
- Mortgage Rates Hold Steady After Early March DropMortgage rates dropped significantly at the start of March before stabilizing, with the average 30-year fixed-rate mortgage settling at 6.65%, according to Freddie Mac. This marks a 19-basis-point (bps) decline from February. Meanwhile, the 15-year fixed-rate mortgage fell by 20 bps to 5.83%. The drop in long-term borrowing costs was driven by a 24-bps decline...
- Property Tax Revenue Outpaces Other Sources in 2024Property tax revenue collected by state and local governments reached a new high in 2024 and continued to make up a bulk of tax revenue. Total tax revenue for state and local governments also reached a high after falling in 2023, driven by higher revenue across all sources. In 2024, tax revenue totaled $2.095 trillion,...
