NAHB Now
- Protect Jobsite Workers by Focusing on Fall PreventionOSHA’s annual National Safety Stand-Down to prevent falls in construction begins Monday, May 6. Use valuable resources from OSHA and NAHB to educate workers on fall risks and help avoid preventable injuries.
- NAHB’s Inaugural HBCU Cohort Paves Way for Future LeadersNAHB’s first-ever Historically Black College and University (HBCU) Student Leadership program recently completed a successful year of learning, networking and making lifelong memories. The success of the program has opened the door for a second cohort that will gather later this year.
- High-Energy Competition Fosters New Trades TalentSkillsUSA state championships prove students are interested and excited about the trades.
- NAHB to Host Shop Talk on NAR LawsuitsThe class-action lawsuits filed against the National Association of Realtors (NAR) and other large real estate companies nationwide have been the subject of national media coverage for the past several months. NAHB will host a Shop Talk on Tuesday, April 30, at 3 p.m. ET to discuss the proposed settlement.
- HUD Releases New Federal Flood Risk Management StandardThe Department of Housing and Urban Development (HUD) has published a final rule in the Federal Register that revises HUD’s regulations governing floodplain management and the protection of wetlands to implement the Federal Flood Risk Management Standard (FFRMS). The regulation is effective May 23, 2024.
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Eye On Housing
- 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...
- Despite Higher Mortgage Rates, New Home Sales Post Solid Gain in MarchDespite higher interest rates last month, new home sales rose in March due to limited inventory of existing homes. However, the pace of new home sales will be under pressure in April as mortgage rates moved above 7% this month, which is expected to moderate sales and increase the use of builder sales incentives this...
- Census Analysis Shows Undercount of Youngest Population in 2020Based on new demographic analysis of 2020 Census population counts, the Census Bureau estimates that children between the ages of 0 to 4 were undercounted by over one million. This age range is historically undercounted in the population surveys but with the addition of conducting the decennial census in the midst of a pandemic, the...
