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The National Association of Homebuilders

HOUSING SUPPLY

Nationwide, the number of housing starts fell by 4.6% over the month of October 2025 to 1,246,000. Single-family starts rose by 5.4% to 874,000. Multifamily starts fell by 22.0% to 372,000. Over the past 12 months, total housing starts are down by 7.8%. Single-family starts are down by 7.8% and multifamily starts are down by 7.9%. In the Northeast Region, which includes the state of Pennsylvania, the number of housing starts fell by 0.6% over the month of October 2025 to 154,000. Single-family starts rose by 44.2% to 75,000. Multifamily starts fell by 23.3% to 79,000. Over the past 12 months, total housing starts are up by 41.3%. Single-family starts are up by 17.2% and multifamily starts are up by 75.6%.
 

On a year-to-date basis, total permits over the past 12 months ending in October 2025 are up by 6.3% across the state of Pennsylvania to 21,624. Single-family permits are down by 2.2% to 13,705 but multifamily permits are up by 25.2% to 7,919.

 

In Altoona, PA, total permits year-to-date were up by 8.1% to 80. Single-family permits were up by 6.9% to 62 and multifamily permits were up by 12.5% to 18.

 

EMPLOYMENT

 

The United States added 1.0 million jobs over the past year, increasing by 0.7%. In the last month, 665.0 thousand jobs were gained, increasing by 0.4%.

 

The Northeast Region, which includes the state of Pennsylvania, added 219.9 thousand jobs over the past year, increasing by 0.8%. In the last month, 149.3 thousand jobs were gained, increasing by 0.5%.

 

The state of Pennsylvania added 97.0 thousand jobs over the past year,increasing by 1.6%. In the last

month, 29.0 thousand jobs were gained, increasing by 0.5%

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Altoona, PA lost 100 jobs over the past year, decreasing by .2%. In the last month, 200 jobs were lost, decreasing by 0.3%.

HOUSE PRICES

NAHB/Wells Fargo Housing Market Index According to the NAHB/Wells Fargo Housing Market Index (HMI), sentiment among builders for the singlefamily housing market nationally rose by 1 point to 39 over the month of December 2025. Over the past year, the HMI fallen by 7 points from 46 in December 2024. Any value above 50 means more builders are seeing improvement rather than decline. The HMI fell to a low of 8 in January 2009. Sentiment among builders for the single-family housing market in the Northeast Region, which includes the state of Pennsylvania, fell by 4 points to 41 over the month of December 2025.

 

Over the past year, builder sentiment in the Northeast Region has fallen by 16 points from 57 in December 2024. Builder confidence in the Northeast Region fell to a low of 8 in February 2009. Nationwide, house prices grew by 0.3% over the third quarter of 2025 and over the past year house prices across the country rose by 3.3%. At its low, reached in the third quarter of 2011, house prices in the US were 18.4% below their second quarter of 2007 peak level.

 

Currently, house prices are 84.6% above their boom-related peak level.

 

Across the Middle Atlantic Division, a component of the Northeast Region which includes the state of Pennsylvania, house prices grew by 0.9% over the third quarter of 2025 and over the past year house prices in the Division rose by 6.0%. At its low, reached in the third quarter of 2012, house prices in the Middle Atlantic Division were 13.5% below their second quarter of 2007 peak level. Currently, house prices in the Middle Atlantic Division are 74.1% above their boom-related peak level.

 

Across the state of Pennsylvania, house prices grew by 0.7% over the third quarter of 2025 and over the past year house prices in the state rose by 5.1%. At its low, reached in the third quarter of 2012, house prices in Pennsylvania were 8.7% below their first quarter of 2008 peak level. Currently, house prices in Pennsylvania are 76.8% above their boom-related peak level.

 

Across the area of Altoona, PA, house prices declined by 0.9% over the third quarter of 2025 but over the past year house prices in the metro area rose by 3.4%. At its low, reached in the third quarter of 2011, house prices in Altoona, PA were 2.3% below their fourth quarter of 2010 peak level. Currently, house prices in Altoona, PA are 66.0% above their boom-related peak level.