News

WASHINGTON, D.C. - May 25, 2011 - (RealEstateRama) -- Nationwide housing affordability during the first quarter of 2011 rose to its highest level in the more than 20 years it has been measured, according to National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) data released today.The HOI indicated that 74.6 percent of all new and existing homes sold in the first quarter of 2011 were affordable to families earning the national median income of $64,400. This eclipsed the previous high of 73.9 percent set during the fourth quarter of 2010 and marked the ninth consecutive quarter that the index has been above 70 percent. Until 2009, the HOI rarely topped 65 percent and never reached 70 percent.

WASHINGTON, D.C. - May 24, 2011 - (RealEstateRama) -- Sales of newly built, single-family homes rose 7.3 percent to a seasonally adjusted annual rate of 323,000 units in April, their best pace since December of 2010, according to figures released by the U.S. Commerce Department today. The report also showed that the nationwide inventory of new homes for sale continued to fall to just 175,000 units in April, which is a new record low."The fact that new-home sales have now risen for two consecutive months is certainly welcome news following an all-time low sales number in February," said Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev. "That said, builders are still contending with a great deal of competition from foreclosed properties for sale in certain markets, and in places where this is not an issue, it remains extremely difficult to obtain credit to build new homes."

WASHINGTON, D.C. - May 19, 2011 - (RealEstateRama) WHEN: Thursday, May 26, 2011 2:00 p.m. EDT WHO: David Crowe, Chief Economist, National Association of Home Builders Kermit Baker, Director of the Remodeling Futures Program, Harvard University's Joint Center for Housing Studies

WASHINGTON, D.C. - May 17, 2011 - (RealEstateRama) -- Nationwide housing starts fell 10.6 percent in April to a seasonally adjusted annual rate of 523,000 units as concerns regarding competition from foreclosures, a lack of consumer confidence in the housing market and the inability to secure production credit caused builders to slow production, according to newly released figures from the U.S. Commerce Department.“While mortgage rates are low and house prices are as affordable as they’ve been in a generation, the decline in April’s housing starts is indicative of the low level of confidence that consumers have in the housing market,” said Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev.

WASHINGTON, D.C. - May 16, 2011 - (RealEstateRama) -- Builder confidence in the market for newly built, single-family homes held unchanged at the low level of 16 in May, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today. The index has now remained at this level for six out of the past seven months.“Builder confidence has hardly budged over the past six months as persistent concerns regarding competition from distressed property sales, lack of production credit, inaccurate appraisals, and proposals to reduce government support of housing have continued to cloud the outlook,” said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev.

WASHINGTON, D.C. - May 12, 2011 - (RealEstateRama) -- Builder confidence in the 55+ housing market was markedly more upbeat in the first quarter of 2011 for apartment production and demand than for sales of single-family or condominium homes, according to a new survey released by the National Association of Home Builders (NAHB).The NAHB’s expected demand index for 55+ multifamily rental units rose 10 points, to 44, from a year earlier, while the 55+ Housing Market Indices for single-family units and condos declined 2 and 3 points, down to 17 and 8, respectively.

WASHINGTON, D.C. - May 11, 2011 - (RealEstateRama) -- According to new data released by the National Association of Home Builders (NAHB), stark contrasts exist in housing affordability between major races and ethnic groups across the United States. The NAHB’s quarterly index, the NAHB/Wells Fargo Housing Opportunity Index (HOI), which measures housing affordability in metropolitan areas nationwide, was broken down for the first time in its history to analyze the differences in income and housing affordability in 2010 across five different races/ethnic groups.The report examined median incomes and housing affordability for Whites, Blacks, Hispanics, Asians and American Indians/Alaska Natives. The HOI for all races/ethnic groups combined was 72.8 in 2010, meaning that 72.8 percent of all homes sold in the U.S. last year were affordable to families earning the national median income of $64,400.

WASHINGTON, D.C. - May 6, 2011 - (RealEstateRama) -- The National Association of Home Builders (NAHB) today applauded Rep. Gary Miller (R-Calif.), Rep. Brad Miller (D-N.C.) and 29 other original cosponsors for introducing bipartisan legislation aimed at restoring the flow of acquisition, development and construction (AD&C) credit to the housing sector to help spur job growth, support a recovery in the housing market and keep the economy moving forward."We commend Reps. Gary Miller and Brad Miller for championing a legislative solution aimed at ending the freeze in housing production credit that has forced countless home building firms across the nation to shutter their doors, resulting in grave repercussions for job growth and the overall economy," said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev.

WASHINGTON, D.C. - May 3, 2011 - (RealEstateRama) -- Thirteen builders, remodelers and other home building industry professionals were honored yesterday as winners of National Green Building Awards by the National Association of Home Builders (NAHB) at the 13th annual National Green Building Conference in Salt Lake City.“These awards recognize and celebrate the most forward-thinking builders and remodelers in green building,” said Bob Jones, immediate past chairman of NAHB and a builder from Bloomfield Hills, Mich. “These award winners are pushing the envelope of what we can achieve with energy and resource efficiency.”

WASHINGTON, D.C. - April 28, 2011 - (RealEstateRama) -- According to the National Association of Home Builders' (NAHB) Remodeling Market Index (RMI), the remodeling market is heading into recovery with an increase to 46.5 in the first quarter of 2011 from 41.5 in the fourth quarter of 2010. This marks the highest level for the RMI since the fourth quarter of 2006. An RMI below 50, however, indicates that still more remodelers report market activity is lower (compared to the prior quarter) than report it is higher.

WASHINGTON, D.C. - April 26, 2011 - (RealEstateRama) -- Sales of newly built, single-family homes rose 11.1 percent to a seasonally adjusted annual rate of 300,000 units in March, the U.S. Commerce Department reported today. The gain partially offsets a large decline that occurred in new-home sales this February, when activity hit a record low due partly to poor weather conditions."The fact that new-home sales have regained some of the ground they lost earlier this year is a promising sign at the start of the spring home buying season," said Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev. "While potential buyers continue to be extremely cautious, they are starting to take a look around and evaluate their very good options with regard to attractively priced new homes."

WASHINGTON, D.C. - April 22, 2011 - (RealEstateRama) -- On the 41st anniversary of Earth Day, the National Association of Home Builders (NAHB) reminds consumers that an investment in energy and resource efficiency can pay real dividends by reducing a home's energy use and the associated costs.This year, the Earth Day Network is encouraging people all over the world to contribute to "a billion acts of green."

WASHINGTON, D.C. - April 19, 2011 - (RealEstateRama) -- Nationwide housing starts rose 7.2 percent to a seasonally adjusted annual rate of 549,000 units in March from an upwardly revised number in the previous month, the U.S. Commerce Department reported today. Coming on the heels of disappointing declines in February, this gain was represented in both the single- and multifamily sectors, and was mirrored by substantial improvements in building permit issuance for the same period."While the overall rate of new-home production remains quite low and is still being weighed down by significant uncertainties among both home builders and buyers, this latest report is encouraging," said Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev. "It means that some builders are cautiously beginning to re-stock their extremely thin inventories of new homes in anticipation of gradual improvement in consumer demand as the economy slowly inches toward recovery."

WASHINGTON, D.C. - April 18, 2011 - (RealEstateRama) -- Builder confidence in the market for newly built, single-family homes slipped back one notch to 16 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for April, released today. The index has now held at 16 for five of the last six months.

WASHINGTON, D.C. - April 14, 2011 - (RealEstateRama) -- The following statement was issued by the Center for Responsible Lending, the Community Mortgage Banking Project, the Mortgage Bankers Association, the Mortgage Insurance Companies of America, the National Association of Home Builders and the National Association of Realtors in advance of the April 14th House Subcommittee on Capital Markets and Government Sponsored Enterprises hearing on the Qualified Residential Mortgage:“In the midst of a very fragile housing recovery, the government is throwing a devastating, unnecessary and very expensive wrench into the American dream. First time homebuyers will have to choose between higher rates today or a 9-14 year delay while they save up the necessary down payment. And 25 million current homeowners would be locked out of lower refinancing rates because they lack the required 25 percent equity in their homes.”

WASHINGTON, D.C. - April 14, 2011 - (RealEstateRama) -- Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev., issued the following statement regarding President Obama’s speech today at George Washington University on deficit reduction:“President Obama today reiterated the importance of tax policy in promoting homeownership but endorsed limiting itemized deductions, including the mortgage interest deduction. Home owners cannot afford higher taxes at a time when the housing market is struggling to recover and contribute to economic growth.

WASHINGTON, D.C. - April 5, 2011 - (RealEstateRama) -- The Senate today approved legislation supported by the National Association of Home Builders (NAHB) to repeal a burdensome tax paperwork requirement that could cost small businesses thousands of dollars each year. The bill now goes to President Obama for his approval.“During the past several months, NAHB has led the effort along with other industry groups to strike all new expanded IRS Form 1099 reporting requirements for small businesses and owners of rental real estate,” said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev. “In testimony before Congress and in ‘key vote’ letters to House and Senate leaders, we have spelled out how failing to overturn these rules would kill jobs and place a major paperwork and cost burden on home builders. We applaud Congress for acting to rectify this situation and urge the President to quickly sign this measure into law.”

WASHINGTON, D.C. - April 5, 2011 - (RealEstateRama) -- While the housing industry celebrates New Homes Month in April, home builders want Americans to know just how much of a positive, direct impact residential construction has on the U.S. economy throughout the entire year."Home building is a key driver of the American economy," said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev. "By generating economic activity including new income and jobs, purchases of goods and services, and revenue for local governments, housing—which has historically accounted for around 17 percent of the GDP—can put America back to work."

WASHINGTON, D.C. - March 31, 2011 - (RealEstateRama) -- As Congress and the Administration debate potential reforms of the housing finance companies Fannie Mae and Freddie Mac, the National Association of Home Builders (NAHB) today called on Congress to develop a workable housing finance system before it moves forward with policies that would further destabilize the struggling housing market."A finance system that provides liquidity for the housing sector in all geographic markets throughout the economic cycle is a prerequisite to achieving housing policy objectives," NAHB Chairman Bob Nielsen, a home builder from Reno, Nev., told members of the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises.

WASHINGTON, D.C. - March 30, 2011 - (RealEstateRama) -- A plan unveiled today by the Federal Deposit Insurance Corp. that would require a minimum 20 percent down payment for "qualified residential mortgages" would disrupt the housing market and jeopardize the economic recovery, according to the National Association of Home Builders (NAHB).