Real gross domestic product (GDP) increased in 44 states and the District of Columbia in the second quarter of 2023. Economic activity contracted in six states. According to the U.S. Bureau of Economic Analysis (BEA), the percent change in real GDP increased ranged from 8.7 percent in Wyoming to -1.9 percent in Vermont. Nationwide, growth in real GDP, measured on a… Read More ›

The bond market appears to be responding to cooling macroeconomic data, including labor market reporting, as long-term rates fall back. Among the risk factors that previously led to higher interest rates (more debt issuance, higher-for-longer monetary policy expectations, long-term fiscal deficit conditions, and strong current GDP growth data for the third quarter) was an ongoing, elevated count of open jobs… Read More ›

For the third consecutive quarter, single-family growth rates were negative for all geographic sectors of the nation, as exurban areas posted the largest increase in market share for both single-family and multifamily construction, according to the latest findings from the National Association of Home Builders (NAHB) Home Building Geography Index (HBGI) for the third quarter of 2023. The lowest single-family… Read More ›

As discussed in Eye on Housing last year, builders have been including decks on fewer and fewer new homes recently.  According to NAHB tabulation of data from the HUD/Census Bureau Survey of Construction (SOC), well over 20% of all single-family homes started had decks from 2005 through 2018—as many as 27% in 2007 and 2008.  After 2017, however, the share… Read More ›

Halcyon is a community of 62 luxury single-family homes and townhomes, ranging from 2,400 to 3,400 square feet. The well-appointed three- and four-bedroom residences boast open floor plans with designer finishes and soaring ceiling heights. Each home features private outdoor space and access to a private community pool. The townhome design features sleek, modern architecture and 2,404 to 2,765 square feet of living space with three bedrooms, two-and-a-half baths and a two-car, rear-entry garage. This charming end-unit townhome is filled…

This kitchen in Grand Rapids, Michigan recaptures the form and function of an American kitchen from the early 1900’s.  Solid walnut tops on the center island, built-in serving buffets and a bay window booth give off the warmth of an old-fashioned kitchen.  Wide-beamed ceilings, hand-hewn Brazilian cherry flooring and hand-glazed tile add to the kitchen’s classic look. The center island offers workspace and an informal eating area.  The porcelain farmhouse sink mixes past and present into the kitchen.  All professional…

NAHB analysis of Census Construction Spending data shows that private residential construction spending rose 1.2% in October, after a dip in September. It stood at a seasonally adjusted annual pace of $884 billion. Total private residential construction spending is 0.7% higher compared to a year ago. This was the first year-over-year increase since December 2022. The total construction monthly increase… Read More ›

Pets can have a significant impact on home buying decisions for many people. According the U.S. Census Bureau, 2021 data shows that there are 63.8 million occupied housing units have at least one pet which represents almost 50% of the 128.5 million occupied housing units.  A recent U.S. Bureau of Labor Statistics Consumer Expenditure Surveys examines the increase in household… Read More ›