Articles Tagged with ''National Association of Home Builders (NAHB)''

The National Association of Home Builders (NAHB), a Washington, D.C.-based trade association representing the housing industry, has named James W. Tobin III as the association’s new president and chief executive officer. 

For the fourth straight month, builder confidence has increased due to a lack of resale inventory despite elevated interest rates, according to NAHB.

The National Association of Home Builders (NAHB) released its NAHB/Westlake Royal Remodeling Market Index (RMI) for the first quarter, posting a reading of 70, edging up one point compared to the previous quarter. 

In recognition of New Homes Month in April, it is important to highlight that taxpayers are taking advantage of new home energy-efficiency related tax credits. A recent Internal Revenue Service data analysis by the National Association of Home Builders (NAHB) indicates that more than 800,000 taxpayers claimed a new home-related energy-efficiency tax incentive.  

Builder sentiment has been edging higher in the early part of 2023 as a significant amount of housing demand exists on the sidelines and resale inventory is limited.

Although high construction costs and elevated interest rates continue to hamper housing affordability, builders expressed cautious optimism in March as a lack of existing inventory is shifting demand to the new home market. 

Meanwhile, multifamily growth was robust throughout much of the nation at the end of 2022, with the notable exception in high-density markets.

Buyer incentives, along with stabilizing mortgage rates during the month of January, increased the pace of new home sales for the month. However, in a sign of current market weakness, sales are down 19.4% compared to a year ago.

In most markets, developers face challenges with regulatory costs and delays, and obtaining financing for new construction, according to NAHB.

Housing construction weakened in January as ongoing affordability conditions fueled by high mortgage rates and building material costs challenged the market, said Alicia Huey, chairman of the National Association of Home Builders.