National Association of Home Builders
Non-Profit Associations | Professional- Building & Contracting
Recent News About National Association of Home Builders
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NAHB mourns loss of industry icon Donald R. Horton
The National Association of Home Builders (NAHB) is in mourning following the passing of industry icon Donald R. Horton, founder of D.R. Horton, Inc. The news was confirmed by Carl Harris, chairman of NAHB and a custom home builder from Wichita, Kan.
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Higher interest rates stall single-family housing starts in April
In April, single-family starts remained stagnant as interest rates rose above 7% and builders faced stricter lending conditions. Despite this, overall housing starts saw a 5.7% increase to a seasonally adjusted annual rate of 1.36 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
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Mortgage rate hike impacts builder confidence in May
As per data from Freddie Mac, mortgage rates have been averaging above 7% for the past four weeks, resulting in a decline in builder sentiment for the first time since November 2023. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) revealed that builder confidence in the market for newly built single-family homes was 45 in May, down six points from April.
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Decline in multifamily developer confidence in Q1 2024: NAHB survey
Confidence in the new multifamily housing market has seen a year-over-year decline in the first quarter of 2024, as per the Multifamily Market Survey (MMS) results released by the National Association of Home Builders (NAHB). The MMS consists of two separate indices - the Multifamily Production Index (MPI) and the Multifamily Occupancy Index (MOI). The MPI saw a three-point decrease from last year, with a reading of 47, while the MOI recorded an increase of one point to 83.
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NAHB Remodelers Reveals the Most Popular Type of Home Remodeling Projects
The National Association of Home Builders (NAHB) Remodelers has disclosed the most popular type of home remodeling projects as part of the celebration of National Home Remodeling Month in May. According to survey results released by the NAHB Remodelers, bathroom and kitchen remodels are the top choices among its members.NAHB Remodelers Chair Mike Pressgrove, a remodeler from Topeka, Kan., emphasized the commitment to professionalism in assisting homeowners in achieving their dream homes. Pressgrove stated, “Whatever type of home improvement project consumers are looking...
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NAHB Announces a 10-Point Plan to Tame Shelter Inflation, Ease the Housing Affordability Crisis
The National Association of Home Builders (NAHB) has announced a comprehensive 10-point housing plan aimed at addressing the ongoing housing affordability crisis in the United States. NAHB Chairman Carl Harris emphasized the critical need to increase the supply of homes to improve affordability, stating, “The lack of homes is the primary cause of growing housing affordability challenges.”Shelter inflation, which includes rent and homeownership costs, has been on the rise, with more than half of overall inflation in the economy attributed to rising housing costs. Harris...
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New Nationwide Codes Mandate a Major Blow to Housing Affordability
Chairman of the National Association of Home Builders (NAHB), Carl Harris, criticized the recent announcement by the Biden administration regarding new regulations impacting housing affordability. The U.S. Department of Housing and Urban Development (HUD) and U.S. Department of Agriculture (USDA) will now only insure mortgages for new homes if they adhere to the 2021 International Energy Conservation Code (IECC).Harris expressed his concerns stating, "Without adequate review and consideration of how it will affect home buyers or renters, HUD and USDA have rammed through a...
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NAHB Chairman Criticizes HUD's New Federal Flood Risk Management Standards Rule
Carl Harris, chairman of the National Association of Home Builders (NAHB), expressed his concerns regarding the Department of Housing and Urban Development’s (HUD) new Federal Flood Risk Management Standards Rule. In a statement, Harris outlined the NAHB's stance on flood management strategies, emphasizing the importance of practical, adaptable, and locally informed approaches.Harris stated, "With respect to flood management strategies, NAHB encourages policies and programs that are practical, predictable, adaptable to local conditions and protective of lives and...
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Despite Higher Mortgage Rates, New Home Sales Post Solid Gain in March
Sales of newly built, single-family homes in March rose 8.8% to a 693,000 seasonally adjusted annual rate from a downwardly revised reading in February, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The pace of new home sales in March is up 8.3% from a year earlier."Although consumer demand has been somewhat dampened due to higher interest rates, builders continue to supply new homes to the market to lift inventory to make up for the low resale supply," said Carl Harris, chairman of the National Association of Home...
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Housing Starts Fall on Interest Rate, Financing Concerns
Housing starts fell in March with interest rates somewhat higher than expected last month as the latest inflation readings failed to show improvement. Builders are also still facing higher supply-side costs and tighter lending conditions.Overall housing starts decreased 14.7% in March to a seasonally adjusted annual rate of 1.32 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The March reading of 1.32 million starts is the number of housing units builders would begin if development kept this pace...
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Builder Sentiment Unchanged in April
Builder sentiment remained unchanged in April as mortgage rates held steady at 7%, and the latest inflation data showed no signs of improvement in the first quarter of 2024. According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released today, builder confidence in the market for newly built single-family homes stayed at 51, the same as in March.NAHB Chairman Carl Harris, a custom home builder from Wichita, Kan., highlighted the importance of policy changes, stating, "With many frustrated buyers back on the fence waiting for...
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Remodeling Market Sentiment Remains Positive in First Quarter of 2024
The National Association of Home Builders (NAHB) recently released the NAHB/Westlake Royal Remodeling Market Index (RMI) for the first quarter of 2024, showing a reading of 66, down one point from the previous quarter. According to the survey, remodelers continue to view market conditions positively, with an index number above 50 indicating a higher share view conditions as good than poor.NAHB Remodelers Chair Mike Pressgrove from Topeka, Kan, commented on the demand for remodeling, stating, "Demand for remodeling remains solid, especially among customers who don’t need...
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NAHB Commends Final DOE Transformer Efficiency Rule
Carl Harris, chairman of the National Association of Home Builders (NAHB) and a custom home builder from Wichita, Kan., praised the Department of Energy for its final rule on new energy efficiency standards for distribution transformers. Harris stated, "NAHB commends the Department of Energy for listening to the concerns of home builders who cited soaring costs and shortages of distribution transformers that are delaying housing projects across the nation and increasing construction costs."Harris also acknowledged that the final rule represents an improvement over the...
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Broad Housing Coalition Statement on Purported “Rent Control” on Low-Income Housing Tax Credit Communities
The U.S. Department of Housing and Urban Development (HUD) recently announced changes to the income determination for Low-Income Housing Tax Credit (LIHTC) communities, sparking concerns among housing advocates and industry stakeholders. In response to the changes, a coalition of housing organizations issued a statement expressing their apprehensions.One of the concerns raised by the coalition is the potential impact of the methodology changes on individuals receiving federal rental assistance. According to the statement, the changes could lead to fewer tenants qualifying...
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Home-Buyer Preferences Shift as Affordability Challenges Remain
As the housing industry gears up to celebrate New Homes Month in April, the focus is on the shifting preferences of homebuyers amidst ongoing affordability challenges.According to a report by the National Association of Home Builders (NAHB), there has been a noticeable trend towards smaller homes in response to the needs of prospective buyers. NAHB Chairman Carl Harris emphasized that "homeownership remains a goal for families who are eager to put down roots and have a place to call their own."The report revealed that a significant percentage of builders have been...