NAHB Now
- Home Builders, Developers Score Key Wins in House Passage of Interior-Environment Spending BillNAHB and Florida home builders posted key wins after the House passed its Interior, Environment, and Related Agencies Appropriations bill for fiscal year 2025.
- How Soaring Prices for Building Materials Impact HousingPrices of most building materials are still far above their pre-pandemic levels, and the impact of those elevated prices can be seen in unexpected places.
- NAHB Podcast: Changing Dynamics in the 2024 ElectionOn the latest episode of NAHB’s podcast, Housing Developments, CEO Jim Tobin and COO Paul Lopez are joined by Chief Lobbyist Lake Coulson to discuss the latest political news.
- Lowe’s Foundation Makes Another Big Investment in Skilled Trades TrainingThe Lowe’s Foundation recently announced nearly $8 million in Gable Grants to a second cohort of community and technical colleges.
- Costly Energy Codes and Rent Caps Will Harm Housing Affordability, NAHB Tells CongressNAHB Chairman Carl Harris called on Congress today to address two key policies that will notably escalate costs for home buyers and renters: the federal push to mandate costly and restrictive national energy codes and the Biden administration’s recent proposal to cap rent increases at 5%.
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Eye On Housing
- Personal Saving Rate Drops to Lowest Rate Since November 2022Personal income inched up 0.2% in June, down from a 0.4% increase in the prior month, according to the most recent data release from the Bureau of Economic Analysis (BEA). Gains in personal income are largely driven by increases in wages and salaries. As spending outpaced personal income growth, the personal savings rate decreased to...
- Market Share of 5,000+ Square Foot Homes Declines in 2023The number of homes started in 2023 exceeding 5,000 square feet, dropped to 26,000, a decrease from 29,000 in 2022, according to the annual data from the Census Bureau’s Survey of Construction (SOC). In 2006, the number of new 5,000+ square foot homes reached a peak of 45,000. This number proceeded to drop during the Great Recession...
- All-Cash Sales Remained at a Three-Year Low for the Second Quarter All-cash purchases accounted for 6.9% of new home sales in the second quarter of 2024, the lowest level since the fourth quarter of 2021, revealed by NAHB analysis of the most recent Census Quarterly Sales by Price and Financing report. Among mortgaged home sales, both FHA-backed and VA-backed sales fell while conventional sales remained unchanged....
- Housing Share of GDP Remains Above 16% Despite Marginal Declines in Residential InvestmentHousing’s share of the economy stayed level at 16.1% in the second quarter of 2024. The share remained above 16% after staying constant at 15.9% for all of 2023. The more cyclical home building and remodeling component – residential fixed investment (RFI) – was 4.0% of GDP, level from 4.0% in the first quarter. RFI...
- U.S. Economic Growth Accelerated in Second QuarterIn the second quarter of 2024, the U.S. economy grew twice as fast as it did in the first quarter, supported by consumer spending and private inventory investment. Furthermore, the data from the GDP report suggests that inflation is cooling. The GDP price index rose 2.3% for the second quarter, down from a 3.1% increase...
