NAHB’s Cost of Housing Index (CHI) highlights the burden that housing costs represent for middle and low-income families. In the second quarter of 2024, the CHI found that a family earning the nation’s median income of $97,800 must spend 38% of its income to cover…
Real gross domestic product (GDP) increased in 39 states and the District of Columbia in the first quarter of 2024 compared to the last quarter of 2023 according to the U.S. Bureau of Economic Analysis (BEA). Ten states reported an economic contraction during this time,…
Nonfarm payroll employment increased in 41 states and the District of Columbia in May compared to the previous month, while nine states saw a decrease. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 272,000 in May, following a gain…
The Census Bureau’s quarterly summary of State & Local Tax Revenue shows a 1.7% increase in property taxes paid, rising from a revised estimate of $754.1 to $766.7 billion in the seasonally adjusted four quarters ending in the first quarter of 2024. The rate of…
Over the first four months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 336,124. On a year-over-year (YoY) basis, this is an increase of 25.3% over the April 2023 level of 268,205. Year-to-date ending in April, single-family permits were up…
According to the latest 2022 ACS, 11.2 million people, including self-employed workers, worked in construction in 2022. NAHB estimates that out of this total, 4.7 million people worked in residential construction, accounting for 2.9% of the US employed civilian labor force. Home building in the…
Nonfarm payroll employment increased in 38 states and the District of Columbia in April compared to the previous month, while 11 states saw a decrease. Alaska reported no change during this time. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased…
