Tag Archives: National Association of Home Builders

Two U.S. senators reintroduced legislation designed to open up competition and limit barriers to refinance for qualified homeowners.

As more markets across the country improved, all 50 states--plus the District of Columbia--were able to receive representation in February's Improving Markets Index (IMI) released by the National Association of Home Builders (NAHB) and First American. Last year during this time, just 36 states were represented.

New home sales fell 7.3 percent in December to 369,000, the sharpest monthly drop in almost two years, the Census Bureau and Department of Housing and Urban Development reported Friday. The monthly drop in sales was the largest since February 2011. Nonetheless, December 2012 sales were up 8.8 percent over December 2011. Sales for September, October, and November were revised higher, with the November sales pace reported as 398,000, up from the originally reported 377,000.

Builders broke ground on new homes at a yearly rate of 954,000 in December, a 12.1 percent jump over November and the highest rate since July 2008, the Census Bureau and HUD reported jointly Thursday. Applications for residential permits rose a modest 0.3 percent, and residential completions rose 1.6 percent. Single-family starts rose in December to a rate of 616,000, the strongest pace since June 2008. According to the data, multi-family starts rose in December to a pace of 330,000 from November's revised 268,000.

Builder confidence stalled in January as the Housing Market Index (HMI) stood at 47, remaining at its highest level since April 2006, the National Association of Home Builders (NAHB) reported Wednesday. Economists had expected the index to tick up to 48. With the January report, the index remained below 50--the tipping point between a positive and negative market assessment--for the 81st straight month. The last time the HMI was above 50 was April 2006, when the reading was 51 and falling.

President Obama opened a big hole in his White House by tapping Jack Lew to replace Timothy Geithner as Secretary of the Treasury, leaving empty--for the moment--the role of chief of staff. It's not the first time the president has looked to change nameplates of those who already worked for him. Strong managers, according to Harvard Business School theory, can move from one discipline to another without specific expertise, and Harvard Law alum Obama apparently picked up something beyond a law degree while in Cambridge.

The National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) continued its trend of marked monthly improvements in January, according to a release from the NAHB. The index rose for the fifth consecutive month in January to reach 242, once again achieving a record high. According to the NAHB, the list of improving markets now includes entrants from 48 states and the District of Columbia. The only states not represented are Kansas and New Mexico.

New home sales jumped 4.4 percent in November to 377,000, the highest level since April 2010, the Census Bureau and HUD.

Economic indicators are never clear and are not isolated bits of data. The numbers released in the week before Christmas provided another example of that maxim.

2012's upward trends in most housing indicators point to continued growth in the new year--but the road to recovery isn't clear yet, the National Association of Home Builders (NAHB) says in its 2013 outlook. NAHB chief economist David Crowe notes the market is transitioning from a very low demand level to a case where supply may be a problem. As new homes are built to address supply concerns, the new stock is expected to take a much more active role in the recovery.