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Remodeling Confidence Regains Momentum

Posted by on Jul 30, 2014 in News

ReNews   RMI: The NAHB Remodeling Market Index (RMI) rose three points to 56 in the second quarter of 2014, regaining the momentum built in 2013. This is the fifth consecutive quarter for an RMI reading above 50. An RMI above 50 indicates that more remodelers report market activity is higher (compared to the prior quarter) than report it is lower. The overall RMI averages ratings of current remodeling activity with indicators of future remodeling activity. The RMI’s future market conditions index rose to 56 from 52 in the previous quarter, under the strength of an increase in all four of its subcomponents: calls for bids, amount of work committed for the next three months, backlog of jobs and appointments for proposals. The current market conditions component of the RMI increased three points to 56 this quarter. Remodeling jobs valued at $25,000 or more rebounded to 54, the same level as the end of 2013. Smaller remodeling jobs and maintenance and repair components performed well this quarter with readings of 56 and 58, respectively. “The recent improvement in the job market has helped restore remodelers’ confidence after a dip in the first quarter that was probably in part weather-related. As home owners feel more secure about their economic situation, they become more willing to undertake remodeling projects—especially larger, discretionary projects,” said NAHB Chief Economist David Crowe. “In addition, fewer new home builders are looking to remodeling as a way supplement their revenue, and this has somewhat reduced competition for remodeling projects.” For more information, check out this Eye on Housing blog...

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Urge Our Senators to Pass Bipartisan Housing Finance Reform NOW

Posted by on Jul 25, 2014 in News, Uncategorized

  While Fannie Mae and Freddie Mac continue to operate under government control, serious reform discussions are underway in Congress on the future of the U.S.  housing finance reform system. In the aftermath of the housing downturn, investors have been reluctant to invest in mortgage securities without government backing. While the House of Representatives is considering legislation to completely remove the government role in the conventional mortgage market, the Senate is engaged in a bipartisan effort to preserve the federal support necessary for the proper functioning of the U.S. housing market. NAHB believes federal support is particularly important to the availability of an affordable 30-year fixed-rate mortgage, which has been a staple of the U.S. housing finance system since the 1930’s. Bipartisan legislation, S. 1217, the Housing Finance Reform and Taxpayer Protection Act of 2014, was recently passed by the Senate Banking Committee and would maintain a proper level of government support. S. 1217 would  fix the nation’s flawed housing finance system and breathe new life into      the housing sector by providing a consistent and affordable supply of      mortgage credit for single-family and multifamily housing. S. 1217 would wind down Fannie Mae and Freddie Mac and ensure that a government backstop would only be triggered under extreme circumstances and after significant      levels of private capital are first exhausted. Certainty that the government will continue to have a limited role in supporting a mortgage market predominantly filled by the private sector will ensure liquidity and stability for homeownership and rental housing. We can no longer afford delay. Passage of comprehensive housing finance reform this year is critical to the economic recovery of our nation and the housing...

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Benefits of Membership – Watch the video and learn more about the HBA.

Posted by on Jul 25, 2014 in Education Opportunities, News

GET INVOLVED. GET CONNECTED. Attend monthly general membership meetings with other’s in your profession. Meetings are informative with interesting speakers and activities. Take part in the annual Parade of Homes, the Home Show, HBA sponsored Golf Outing, and other activities.   Click here to download The Greater Iowa City Area Home Builders Association Membership...

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