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State & National Updates
Eye on the Economy

Surprising Labor Market Data Pauses the Fed

Surprising Labor Market Data Pauses the Fed


A weak labor market report clearly influenced the Federal Reserve's decision to keep interest rates steady this week. The Fed noted that job gains have slowed and business investment has been soft. Housing, however, remains a bright spot as the economy picks up speed entering the second quarter. 

Industry Insights

Who are NAHB's Builder Members?


The latest member census reveals that the median dollar volume for builders in 2015 was the highest on record.


Market Share of the Nation's Top Builders

The total number of closings among each of the top 100 U.S. builders in 2015 ranged from 365 to 36,736. 

One-Person Residential Construction Firms Total 1.7 Million

Though large in numbers, these contractors typically pull in modest receipts.  


Lending Trends

Non-Bank Institutions Account for Nearly Half of All Home Loans

The share of mortgage originations from independent mortgage companies is the largest among all lender types. 

Home Mortgage and Multifamily Residential Debt Expand

Rising real estate values outpaced increasing mortgage debt, resulting in overall home equity growth.

Consumer Credit Outstanding Grows on Auto, Student Loans

Outstanding non-revolving credit now stands at $2.65 trillion.

Macroeconomic Indicators


Increasing Energy Prices Drive Producer Price Index Higher

May's upsurge was twice the size of April's. 

Last Month's Employment: All Systems No

April was a bad month, May was a shocker, and June is a non-starter.

Construction Employment Drops as Job Openings Persist

The count of total jobs in the home building sector has declined for two straight months.

Personal Consumption Expenditure Jumps

April's increase was the biggest since August 2009. 

Private Residential Construction Spending Stalls

Both multifamily and home improvements declined in April, while single-family spending was virtually unchanged. 

Consumer Perspectives

Consumer Confidence Slipped Again

But expectations improved for business conditions six months from now.

New House Price Data Show Why Costs are a Problem

Nearly one-third of consumers expect to pay less than $150,000 for a home, while just 6% of new homes fall in that range.