Eye On Housing (NAHB)
The National Association of Home Builders (NAHB) is a trade organization located in Washington, D.C., representing over 140,000 members who work in various sectors of home construction. This includes areas such as home building, remodeling, multifamily projects, property management, subcontracting, design, housing finance, and the manufacturing of building products. NAHB collaborates with more than 700 local and state home builders associations across the nation. The organization plays a key role in assisting its members in creating vibrant communities. Each year, NAHB members are responsible for constructing approximately 80% of all new homes in the United States, covering both single-family and multifamily dwellings.
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Global
#802692
United States
#216744
Business and Consumer Services/Real Estate
#2405
Articles
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3 days ago |
eyeonhousing.org | Robert Dietz
Elevated interest rates and economic uncertainty sent more home buyers to the sidelines in May as housing affordability conditions remain challenging. Sales of newly built single-family homes declined 13.7% in May, falling back to a seasonally adjusted annual rate of 623,000 according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This was the slowest pace since October of last year, as mortgage rates averaged 6.83% in May.
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1 week ago |
eyeonhousing.org | Robert Dietz
Reflecting most forecasters’ expectations for the June FOMC meeting, the Federal Reserve continued its post-2024 pause for federal funds rate cuts, retaining a target rate of 4.5% to 4.25%. The pause comes after a 100 basis point series of reductions in late 2024. Despite these cuts, mortgage rates have remained in the high 6% range.
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1 week ago |
eyeonhousing.org | Robert Dietz
A sharp decline in multifamily production pushed overall housing starts down in May, while single-family output was essentially flat due to economic and tariff uncertainty along with elevated interest rates. Overall housing starts decreased 9.8% in May to a seasonally adjusted annual rate of 1.26 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
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1 week ago |
eyeonhousing.org | Robert Dietz
In a further sign of declining builder sentiment, the use of price incentives increased sharply in June as the housing market continues to soften. Builder confidence in the market for newly built single-family homes was 32 in June, down two points from May, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI).
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3 weeks ago |
eyeonhousing.org | Robert Dietz
The count of open, unfilled positions in the construction industry held steady amid a slowdown for housing, per the April Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The number of open jobs for the overall economy increased slightly from 7.20 million in March to 7.39 million in April. This is notably smaller than the 7.62 million estimate reported a year ago and reflects a softened aggregate labor market.
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