Inflation Surges to a Nearly 40-Year High in November
Inflation posted its largest jump in nearly 40 years in November, up 6.8% year over year. The Consumer Price Index (CPI) released by the Bureau of Labor Statistics showed the CPI rose 0.8% in November compared with October. This marks the largest 12-month increase since June 1982.
Supply-chain constraints and strong consumer demand related to the pandemic and the reopening of the economy have contributed to recent price increases in some sectors. In some areas, costs have increased at an even more rapid clip. For example, the average price of major appliances is up almost 27% since January 2020.
NAHB is still forecasting inflation to ease somewhat next year, although the rate will remain well above the Federal Reserve's 2% target.
NAHB economist Jing Fu provides more analysis in this Eye on Housing blog post.
Latest from NAHBNow
Advocacy | Economics
Jun 18, 2025
Podcast: Mid-Year Update on Economic Indicators and Advocacy PrioritiesOn the latest episode of NAHB’s podcast, Housing Developments, COO Paul Lopez welcomes NAHB Chief Economist Dr. Robert Dietz and Chief Advocacy Officer Ken Wingert for a mid-year check in on key economic indicators and NAHB policy priorities driving home building for the rest of 2025.
Economics
Jun 18, 2025
Sharp Drop in Multifamily Production Brings Overall Housing Starts DownOverall housing starts decreased 9.8% in May to a seasonally adjusted annual rate of 1.26 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Latest Economic News
Economics
Jun 18, 2025
Sharp Drop in Multifamily Production Brings Overall Housing Starts DownA sharp decline in multifamily production pushed overall housing starts down in May, while single-family output was essentially flat due to economic and tariff uncertainty along with elevated interest rates.
Economics
Jun 17, 2025
Builder Sentiment at Third Lowest Reading Since 2012In a further sign of declining builder sentiment, the use of price incentives increased sharply in June as the housing market continues to soften.
Economics
Jun 16, 2025
Permit Activity Weakens in April 2025Housing permits continued a downhill trend for the fourth month in a row, pointing to a broader residential construction slowdown for 2025. Over the first four months of 2025, the total number of single-family permits issued year-to-date (YTD) nationwide reached 320,259.