Inside Washington

NAHB Seeks Solutions as Lumber Prices Rise

Stalled negotiations, short supply means costs may go up 30% by April.

More Clarity with New CGP, but Liability Still a Problem

EPA's 2017 Construction General Permit is now in effect.

Starts & Stats

Builders Still Optimistic in February

Overall housing market fundamentals remain strong.

Strong and Steady Market Nationwide

A seasonally adjusted annual rate of 1.246 million starts is a return to trend.

Lot, Labor Shortages Lead to Slight Rise in Home Prices

Housing Opportunity Index dipped last quarter.

The NAHB Advantage

An Alternative to Impact Fees

NAHB resources help you help your city find other ways to finance infrastructure.

Save Today, Tomorrow and All Year

NAHB members saved $20 million in 2016 with these exclusive discounts.

Missed IBS? We've Got You Covered

Watch videos from the board presentations and read committee meeting recaps at your convenience.

Industry Insight

Challenges Inhibit More Robust Housing Growth

In a nutshell: Too many regulations and not enough lots.

Conventional Financing Continues to Climb

Meanwhile, the share of new homes with FHA loans declines.

Building Success with Happy Owners

Managing expectations leads to satisfied customers.

Inside Washington

White House 'Unfreezes' Streamlined Wetlands Permits

NAHB cites confusion, cost and extra bureaucracy; the feds agree.

Builders to Confront Labor, Financing Challenges

More than 80% of builders surveyed say that the scarcity of labor leads the list of challenges for 2017. While employment is growing within the housing industry—adding 128,000 jobs over the last year, and 20,030 in January alone—unfilled construction jobs remain a key supply-side headwind. Housing markets also continue to be held back by a lack of inventory, which has kept pending existing home sales flat for most of the last two years.
 
The rising cost of credit is another point of concern as the new year begins. Federal Reserve data indicate that demand for multifamily debt and commercial real estate construction and development loans slowed or declined at the end of 2016, perhaps due to rising interest rates. New home sales were also down in December, which some analysts attribute to higher mortgage rates. However, regional data do not fully support that claim.
 
While rising rates will act as a drag on housing demand going forward, sales were up 12% over the course of 2016 and favorable demographics will cause sales to rise more in 2017, supported by rising wages and job growth.
 
–NAHB Chief Economist Robert Dietz

Lending

Conventionally Financed New Home Sales Reach 9-Year High

Improved economic conditions help ease lending conditions for conventional loans.

Standards on CRE Loans Tighten as Demand Weakens

However, the pace of tightening has eased slightly after it peaked in mid-2016.

Federal Open Market Committee Meeting – No News is Good News

Economic conditions are right for a faster pace of monetary policy normalization.

Mortgage Rates Rising

Increasing rates too rapidly will likely impact sales.

Sales

Nation Moves Closer to Recovery

House prices are the lone bright spot amid lagging single-family permits and employment numbers.

Home Prices Continued to Rise in November

Tight inventory and high demand pushed prices up at a rapid pace.

Homeownership Rate Bottoming Out?

A 50-year low has been followed by two consecutive quarters of increases.

New Home Sales Grew 12% in 2016

A strong year overall, despite a weak December estimate.

Trends

Residential Construction Employment Growing

January's fast pace is an encouraging sign for 2017.

Record-High 4th Quarter for 55+ Housing Market 

Builders report increases in current sales, expected sales and prospective buyers.

Residential Construction Ends 2016 on High Note

Three consecutive monthly increases in spending add momentum at the start of a new year.

Housing Share of GDP Essentially Unchanged

A slight drop brings total contributions to 15.6%.

Economy

Employment Situation Looks Promising

Solid report from the Bureau of Labor Statistics starts off the year.

Consumer Confidence Decreased in January

Optimism about current conditions is overshadowed by low expectations for the future.

First Look at 4th Quarter GDP Growth 

Real GDP grew at a 1.9% annual rate, slowing from 3.5% in the previous quarter.

Labor

What's the Top Builder Concern for 2017?

Hint: It's unchanged from last year.

4 Steps to Help Meet Your Firm's Labor Needs

Make your company the builder of choice in your local market.

HBAs Bring Workers Home

Successful strategies to get students excited about careers in construction.

Economics

Key Building Materials Prices Far Surpassed Inflation in 2016

OSB prices led the way, surging 13.8%.

Highest Property Tax States are in the Northeast

New Jersey has the highest average annual real estate tax bill. 

New Home Sales Register Monthly Dip in December

However, 2016 sales posted the highest rate since 2007. 

Industry Insight

Trump Administration Halts Cut to FHA Loan Costs

NAHB will encourage HUD to reinstate the premium reduction.