National Association of Home Builders
Non-Profit Associations | Professional- Building & Contracting
Recent News About National Association of Home Builders
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More than 900 business professionals involved in residential construction gathered at Capitol Hill today, urging Congress to address the ongoing housing affordability crisis. This initiative is part of the National Association of Home Builders (NAHB) 2024 Legislative Conference.
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Nearly four out of five Americans agree that the country is experiencing a housing affordability crisis and that officials at all levels of government are not doing enough to address this issue, according to a survey conducted by Morning Consult on behalf of the National Association of Home Builders (NAHB).
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Fueled by a lack of existing inventory and pent-up demand, single-family permit growth is occurring across all tracked geographic regions of the nation while the opposite holds true for the multifamily sector, according to the latest findings from the National Association of Home Builders (NAHB) Home Building Geography Index (HBGI) for the first quarter of 2024.
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As the National Association of Home Builders (NAHB) celebrates National Homeownership Month in June, high mortgage rates and double-digit growth in home prices since COVID-19 are putting buyers in a position to compromise on lot sizes and shrink their square footage to buy a home they can afford, according to survey results from NAHB’s "What Home Buyers Really Want, 2024 Edition."
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Mortgage rates that averaged above 7% since mid-April, according to Freddie Mac data, contributed to a decline in new home sales last month. Sales of newly built, single-family homes in April fell 4.7% to a seasonally adjusted annual rate of 634,000 from a downwardly revised reading in March, as per data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This pace is down 7.7% compared to the same period last year.
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The recent federal push to require certain new homes to meet the stringent energy efficiency requirements of the 2021 International Energy Conservation Code (IECC) and ASHRAE 90.1-2019 will price many would-be home buyers and renters out of the market, forcing them to stay in older, less efficient homes, the National Association of Home Builders (NAHB) told Congress today.
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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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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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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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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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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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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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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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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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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 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 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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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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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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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...