With the National Flood Insurance Program (NFIP) and federal government 48 hours away from a funding lapse, House and Senate lawmakers acted in a bipartisan manner to fund the operations of the federal government, including the NFIP, through early next year. NAHB has been at the forefront in working with lawmakers to find a solution…
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Rising mortgage rates, elevated construction costs and limited existing inventory helped push housing affordability in the third quarter of 2023 to its lowest level in more than a decade. According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI), just 37.4% of new and existing homes sold between the beginning of…
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In a pre-emptive move, NAHB has joined a group of 11 other leading organizations in the construction industry to send a letter to Senate and House leaders that strongly opposes pending legislation by Sens. Lindsey Graham (R-S.C.) and Alex Padilla (D-Calif.) that would impose harmful and unjustified restrictions on access to the H-2B temporary seasonal…
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Despite mortgage rates that are at a 23-year high, new home sales posted a double-digit percentage gain in September because of a lack of inventory in the resale market. Sales of newly built, single-family homes in September increased 12.3% to a 759,000 seasonally adjusted annual rate, according to newly released data by the U.S. Department…
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In a positive development for NAHB and the housing industry, Federal Reserve Chairman Jerome Powell has signaled that the central bank is unlikely to raise rates further unless clear signs emerge that strong economic growth could trigger a rise in inflation. As reported by the Wall Street Journal, Powell said during an address in New…
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