Note: The State of the Nation's Housing 2025 will be released on June 24, 2025. 

Homeowners and renters across the US are struggling with high housing costs. On the for-sale side, millions of potential homebuyers have been priced out of the market by high home prices and interest rates, while the number of renters with cost burdens has hit an all-time high. However, a surge in new multifamily rental units is slowing rent growth and accelerated single-family construction is starting to lift for-sale inventories.