Solid nominal wage gains (unadjusted for inflation) combined with lower mortgage rates and home prices helped to boost housing affordability at the start of 2023, but ongoing building material supply chain issues and expected wage growth cooling signal ongoing concerns for affordability conditions in the year ahead. According to the National Association of Home Builders…
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As the National Association of Home Builders (NAHB) celebrates National Homeownership Month in June, more Americans are turning to new home construction as existing inventory remains low and mortgage rates begin to stabilize. Sales of newly built, single-family homes increased in April, reaching the highest level since March 2022. “Buyers are purchasing new homes so…
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At NAHB’s urging, a bipartisan group of 47 Senate lawmakers has sent a letter to Sec. Jennifer Granholm urging the Department of Energy (DOE) not to move forward on its proposed rule to regulate energy conservation standards for distribution transformers because it will exacerbate an already acute supply chain shortage. Senators said that between 2020…
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In a major victory for NAHB, builders, developers and property owners, the Supreme Court on May 25 issued a unanimous decision in Sackett v. Environmental Protection Agency that will force the Biden administration to overhaul its “waters of the U.S.” (WOTUS) rule and ultimately provide builders and developers more certainty in the federal permitting process. “The decision…
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Stabilizing mortgage rates and a lack of resale inventory provided a boost for new home sales in April, even as builders continue to wrestle with rising costs stemming from shortages of transformers and other building materials and a persistent lack of construction workers. Sales of newly built, single-family homes in April increased 4.1% to a…
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