NAHB Now
- Podcast: A Big Win in the Supreme Court and Understanding the Realtors SettlementIn the latest episode of NAHB’s podcast, Housing Developments, hosts CEO Jim Tobin and COO Paul Lopez are once again joined by Tom Ward, vice president of legal advocacy, to discuss the outcome of the Supreme Court’s Sheetz decision and the National Association of Realtors (NAR) settlement.
- New Energy Codes Mandate a Blow to Housing AffordabilityIn a move that will curb new construction and harm housing affordability nationwide, the U.S. Department of Housing and Urban Development (HUD) and U.S. Department of Agriculture (USDA) have issued a final determination that will require all HUD- and USDA-financed new single-family construction housing to be built to the 2021 International Energy Conservation Code (IECC) […]
- Labor Department Finalizes New Overtime Salary RequirementsThe U.S. Department of Labor (DOL) issued a final rule significantly increasing the salary level for determining overtime pay requirements for certain salaried employees.
- Study Highlights Housing Tradeoffs in Inclusionary Zoning PoliciesA recent report authored by the UCLA Lewis Center for Regional Policy Studies notes that although inclusionary zoning can help increase housing for low-income families, the mandates also suppress overall housing production if taken too far.
- New Nationwide Codes Mandate a Major Blow to Housing AffordabilityNAHB Chairman Carl Harris today issued a statement after the Biden administration announced that the U.S. Department of Housing and Urban Development (HUD) and U.S. Department of Agriculture (USDA) will insure mortgages for new homes only if they are built to the 2021 International Energy Conservation Code (IECC).
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Eye On Housing
- Personal Saving Rate Falls to 3.2% in MarchThe most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.5% in March, up from a 0.3% increase in the prior month. Gains in personal income are largely driven by increases in wages and salaries. As spending outpaced personal income growth, the March personal savings rate dipped to...
- How Rising Costs Affect Home AffordabilityNAHB recently updated its 2024 priced out estimates, showing how higher prices and interest rates affect housing affordability. The new estimates show that affordability is a serious problem even before any further price or interest rate increases. Already in 2024, 103.5 million households are not able to afford a median priced new home ($495,750[1]). This...
- U.S. Economic Growth Slows in First QuarterCompared to the fourth quarter of 2023, the U.S. economy grew at a noticeably slower pace in the first quarter of 2024 due to an increase in the trade deficit and weaker inventory investment. But it was still on solid ground supported by consumers, the government, and the housing industry. Meanwhile, the data from the...
- Housing Share of GDP Surpasses 16% for First Time Since 2022Housing’s share of the economy rose to 16.1% in the first quarter of 2024. The share remained below 16% for all of 2023 at 15.9% in each of the four quarters. This increase to above 16% marks the first-time housing’s share of GDP is above 16% since 2022. In the first quarter, the more cyclical...
- All-Cash Sales Dropped to Lowest in 3 YearsNAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the share of new home sales backed by VA loans climbed substantially in the first quarter of 2024, while all-cash sales share fell by nearly 30%. However, the median purchase price of homes bought with cash continued to increase in...
