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2024 United States Presidential Election

In 2023, 64.8% of all new single-family homes started were built within a community or homeowner’s association. This share increased from the 62.6% recorded in 2022, according to data tabulated from the Census Bureau’s Survey of Construction (SOC). This marks the third highest share since the beginning of the series in 2009, after the high...

United States

Eye On Housing

Community Associations on the Rise in 2023

Prices for inputs to new residential construction—excluding capital investment, labor, and imports—decreased 0.6% in September according to the most recent Producer Price Index (PPI) report published by the U.S. Bureau of Labor Statistics. Compared to a year ago, this index was down 0.1% in September after an increase of 1.0% in August. The inputs to...

Energy Price Declines Lead the Way in September

Residential improvement spending softened in 2023 due to elevated interest rates, high inflation, and sluggish home sales. According to the Bureau of Economic Analysis’ National Income and Product Accounts (NIPA), expenditures for residential home improvements rose 2% to $363 billion in 2023, from $356 billion in 2022. The 2% year-over-year (YOY) gain in 2023 marks...

Inflation

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2023 Home Improvement Loan Applications: A State- and County-Level Analysis

Inflation continued to ease in September and remained at a 3-year low as shelter costs continued to moderate. Shelter costs, the main driver of inflation since early 2023, saw their annual growth rate fall below 5% for the first time since February 2022. With the Fed beginning its easing cycle with a half-point cut last...

Inflation Slows in September

The National Association of Home Builders (NAHB) released its NAHB/Westlake Royal Remodeling Market Index (RMI) for Q3, posting a reading of 63, down two points compared to the previous quarter. The NAHB/Westlake Royal RMI survey asks remodelers to rate five components of the remodeling market as “good,” “fair” or “poor.” Each question is measured on… The post NAHB Reports Remodeling Market Sentiment Dips in Q3 appeared first on RISMedia.

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NAHB Reports Remodeling Market Sentiment Dips in Q3

Real gross domestic product (GDP) increased in 49 states and the District of Columbia in the second quarter of 2024 compared to the last quarter of 2023 according to the U.S. Bureau of Economic Analysis (BEA). Alaska reported an economic contraction during this time. The percent change in real GDP ranged from a 5.9 percent...

Anchorage, United States

Anchorage

2024 Second Quarter State-Level GDP Data

Approximately 2.3 million tax returns filed for tax year 2023 utilized the Energy Efficient Home Improvement credit (25C tax credit), according to the latest IRS clean energy tax credit statistics. Through May 23rd of the 2024 tax filing season for 2023 returns, almost 138 million tax returns had been filed with the IRS, which indicates...

Home Energy Tax Credit Usage

Nonfarm payroll employment increased in 32 states in August compared to the previous month, while 17 states and the District of Columbia saw a decrease. Kansas reported no change. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 142,000 in August, following a gain of 89,000 jobs in July. On...

Kansas, United States

Kansas

State Level Employment Situation: August 2024

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US Housing Starts & Building Permits Plunge In September

While housing affordability remains low, builders are feeling more optimistic about 2025 market conditions. A wildcard for the outlook remains the election.

Builder confidence edges higher despite affordability headwinds

AD&C loan conditions will improve as the Fed progresses in its policy easing cycle.

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