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Posts Tagged ‘National Association of Home Builders (NAHB)’

Labor and Lot Shortage could Hinder Housing Market Recovery

February 9th, 2016 Comments off

nahb_logoThe monthly National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reveals the cost and availability of labor remains the biggest hurdle for builders, and is expected to continue as a problem throughout this year. During the Great Recession tradespeople left the industry by the thousands because jobs were not available. Many found work as truck drivers.

According to builderonline, NAHB’s staffer Ashok Chaluvadi tells MHProNews,In 2013, 53% of builders rated labor as a significant problem, followed by 61% in 2014 and 71% in 2015. An expected skilled labor shortage can constrain an improving housing market.” 76 percent of builders anticipate the problem will carry over through 2016.

The second problem on builders’ minds is the cost and availability of developed lots. In 2013, this was rated as a significant problem by 46 percent of the contractors who responded to the survey. That grew to 55 percent in 2014 and three more percentage points to 58 percent in 2015. That share rose to 59 percent in 2016.

The lack of available skilled workers and buildable lots could spell trouble for the single-family housing market going forward. ##

(Image credit: National Association of Home Builders)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

NAHB: Housing Numbers Showing Modest Rise

April 8th, 2014 Comments off

Statistics from the National Association of Home Builders (NAHB) indicate modest improvement this month over March, and anticipates a traditional, solid, spring home-buying season. Based on employment, permits and price data, the NAHB/First American Leading Markets Index (LMI) reports 28 percent of metro areas experienced a rise in their score this month, and 83 percent saw a rise within the last year. Baton Rouge, LA tops the list of large metro LMI areas, MHProNews.com has learned, followed by Honolulu, Oklahoma City, Austin and Houston, Texas, San Jose, CA. and Harrisburg, PA. Smaller metro areas with strong LMIs are centered around energy exploration sites such as Odessa and Midland, Texas, and western North Dakota. ##

(Image credit: etftrends.com)

Higher Mortgage Rates Cause Pause, may Fuel more Home Sales soon

August 26th, 2013 Comments off

nahb-2-logo-posted-daily-business-news-manufactured-home-marketing-sales-management-mhpronews-com-The National Association of Home Builders (NAHB) tells MHProNews that sales of newly built, single family homes declined in July 13.4%, to a seasonally adjusted annual rate (SAAR) of 394,000 units. “The drop-off in sales in July is in part a reflection of buyers’ reaction to the recent uptick in mortgage rates as people reassess their budgets to determine how much house they can afford,” said Rick Judson, chairman of the NAHB. NAHB Chief Economist David Crowe said, “However, there is still a great deal of pent-up demand for homes in markets nationwide, and builders continue to report improving consumer interest. This suggests that what we’re seeing is a temporary pause, and that buyers will return to the market once they are confident that the higher mortgage rates are here to stay.” ##

(Image Credit: NAHB Logo)

Road to Housing Recovery Lengthening

December 6th, 2011 Comments off

A CNNMoney article by Joshua Steiner and Allison Kaptur warns prospective real estate investors that the rosy 2012 forecast for the housing market has two pronounced thorns. The first is less than five percent of the mortgage purchase volume is in the hands of private investors. Support for the housing market from the government is very near its limit. But without that support, private lenders will seek higher down payments and less credit risk, which will decrease demand and cause home prices to fall more. Falling prices will turn investors away, creating a downward spiral. Secondly, the Obama administration is not currently promoting new housing initiatives. Both leading Republican contenders, Newt Gingrich and Mitt Romney, say the housing market needs to hit bottom and clear on its own. The authors note the failed leverage of the National Association of Realtors (NAR), the National Association of Home Builders (NAHB), and the Mortgage Bankers Association (MBA) to get increased GSE loan limits extended suggests the government may have reached its housing industry support limit.

New Home Sales Edge Up

November 28th, 2011 Comments off

The National Association of Home Builders (NAHB) reports the U.S. Department of Commerce says sales of new, single-family homes increased 1.3 percent in October, marking the best monthly sales pace since May, 2011. “Today’s report is right in line with our forecast for modest and gradual improvement in sales activity through the remainder of the year,” said NAHB Chief Economist David Crowe. “Particularly encouraging is the fact that builders continue to hold down their inventories to match the current sales rate, with the number of new homes for sale now down to a sustainable, 6.3-month supply.” Regionally, new home sales gained 22.2 percent in the Midwest, and 14.9 percent in the West. The Northeast remained unchanged, but sales declined in the South.

(Graphic credit: NAHB)

Home Builders: 30 Points from Condition “Good”

November 17th, 2011 Comments off

The National Association of Home Builders reports builder confidence rose in November three points to 20 on the NAHB/Wells Fargo Housing Market Index (HMI) for newly-built single family homes. Building on a three point increase from October, the HMI is at its highest point in 18 months. NAHB Chief Economist David Crowe said, “This second consecutive gain in the HMI is evidence that well-qualified buyers in select areas are being tempted back into the market by today’s extremely favorable mortgage rates and prices…these (are) pockets of improving conditions that are slowly spreading.” The index measures builders perceptions of current single-family home sales and expectations for the next six months. Any number above 50 indicates conditions are “good” rather than “poor.” Regionally, the Northeast saw a three point gain to 17, the Midwest advanced eight points to 23, and the South rose three points to 21. The West had posted a large October increase, but lost six points this month to 15.

(Graphic credit: NAHB)

Courson to Head NAHB’s Workforce Development

November 10th, 2011 Comments off

The National Association of Home Builders (NAHB) announces the appointment of John Courson to head the Home Builders Institute (HBI), the non-profit workforce development division of NAHB. His focus at HBI will be in job placement, mentoring, training, and developing new revenue streams. Says Donald Pratt, chairman of HBI’s Board of Trustees,“His solid understanding of non-profit associations, entrepreneurial spirit, expertise in strategic planning, and passion for the housing industry will be incredible assets for HBI. John’s skills will help to further HBI’s 40-plus year mission to prepare youth and adults for careers in the residential construction industry.” Courson has a long history of serving in mortgage banking leadership positions in both the private and public sectors, including chairman of the California Housing Finance Agency (CHFA). He has also participated in international housing initiatives led by the U.S. government.

(Graphic credit: NAHB)

Growth in New Single-Family Home Sales

October 26th, 2011 Comments off

MHProNews has learned that the U.S. Commerce Department reports newly-built, single-family home sales rose 5.7 percent in September, recording their best growth in five months, to a seasonally-adjusted rate of 313,000 units. “The improved rate of new-home sales in September is on par with NAHB’s forecast for the overall number of sales this year and in keeping with the spotty improvements that our latest builder surveys have highlighted in select markets,” said NAHB Chief Economist David Crowe. “While 313,000 is still an exceptionally low rate of new-home sales by historic standards, it is an encouraging sign of an anticipated broader recovery over the course of next year, and builders have helped the situation by keeping their inventories of homes for sale very lean in areas where there is an oversupply of existing units.” Regionally, the South showed the best new home sales gain at 11.2 percent, and the West had 9.7 percent. Meanwhile, the Midwest declined 12.2 percent, and the Northeast fell 4.2 percent. The 163,000 inventory of new homes for sale in September is a record low, representing a 6.2 month supply at the current pace.

(Graphic credit: NAHB)

NAHB Implores Senate to Keep MID

October 6th, 2011 Comments off

WorldPropertyChannel reports National Association of Home Builders (NAHB) assistant vice-president and economist Robert Dietz says eliminating or reducing the mortgage interest deduction (MID) would hurt the chances for younger families to buy homes, as well as damage the already shattered housing industry and the economy in general. Testifying before the Senate Finance Committee, Dietz says, “We believe that any policy change that makes it harder to buy a home, or delays the purchase of the home until an older age, will have a significant long-term impact on household wealth accumulation and the make-up of the middle class as a whole.” Noting that middle-class homeowners with annual incomes under $200,000 make up 70 percent of the tax benefits, he says, “Out of 75 million home owners, 35 million claimed the mortgage interest deduction in 2009. This fails to take into account the millions of taxpayers who are renters and one day aspire to own a home of their own and the roughly 25 million who own their homes free and clear and used the deduction in the past. The bottom line is that 70 percent of home owners with a mortgage have claimed the deduction.” In testimony on home ownership incentives, Dietz stresses the importance of the Low Income Housing Tax Credit which produces 90,000 full time job, as well as the deduction for those who buy second homes. “Building 100 single-family homes creates more than 300 full-time jobs,” he says. “Housing can act as a catalyst for job growth and an economic recovery because home building employs such a wide range of workers.”

(image credit: NAHB)

Single and Multifamily Housing Starts Spike

July 19th, 2011 Comments off

The National Association of Home Builders (NAHB) says figures released by the U.S. Commerce Department show housing starts for single and multifamily homes increased in June 14.6 percent to a seasonally-adjusted rate of 629,000. Bob Nielsen, chairman of NAHB, called it an encouraging sign, but also noted that lack of construction credit continues to stymy new projects. Single-housing starts were up 9.4 percent, and multifamily starts gained 30.4 percent, the best rate since January. All regions of the country showed improvement. Building permits, considered a measure for the future, increased by 2.5 percent. Multifamily building permits alone jumped 6.9 percent, their highest rate since October 2008.

(image courtesy NAHB)