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New Home Sales Post Highest Yearly Total Since 2007

Posted by on Jan 26, 2017 in News

New Home Sales Post Highest Yearly Total Since 2007 Filed in Economics by NAHB Now on January 26, 2017   Sales of newly built, single-family homes rose 12.2% in 2016 to 563,000 units, the highest annual rate since 2007, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. New home sales fell 10.4% in December 2016 to a seasonally adjusted annual rate of 536,000 units. “We are encouraged by the growth in the housing sector last year, and by the fact that builders increased inventory by 10% in anticipation of future business,” said Robert Dietz, chief economist of the National Association of Home Builders (NAHB). “NAHB’s forecast calls for continued upward momentum this year, with housing starts expected to rise 10% over the course of 2017.” “To ensure sales continue to move forward in 2017, builders need to price their homes competitively, especially given that mortgage interest rates are expected to rise this year,” said NAHB Chairman Granger MacDonald. The inventory of new home sales for sale was 259,000 in December, which is a 5.8-month supply at the current sales pace. The median sales price of new houses sold was $322,500. Regionally, new home sales increased 48.4% in the Northeast. Sales fell 1.3% in the West, 12.6% in the South and 41% in the...

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House Passes Regulatory Reform Bills

Posted by on Jan 7, 2017 in News

House Passes Regulatory Reform Bills Filed in Capitol Hill, Codes and Regulations by NAHB Now on January 6, 2017 • 0 Comments The House this week passed two NAHB-supported regulatory relief bills that would help ensure that all federal regulations are carefully designed to achieve their intended benefits while minimizing the regulatory burdens on small business. On Jan. 4, the House approved H.R. 21, the Midnight Rules Relief Act of 2017, legislation that would allow Congress to examine under the Congressional Review Act multiple regulations pushed through by an outgoing administration. The next day, the chamber approved H.R. 26, the Regulations from the Executive in Need of Scrutiny Act of 2017 (REINS Act), legislation that would require Congress to approve all federal agency regulations that have an annual economic impact of $100 million or more. Prior to the vote on the regulatory reform measures, NAHB sent a letter to lawmakers stating that the association considers support of the two bills a “key vote” given their importance to the housing industry. “These important pieces of legislation would restore integrity and strong congressional oversight to the federal rulemaking process,” the NAHB letter said. “NAHB commends the House for moving quickly to address regulatory burdens facing home building firms and other small businesses,” added NAHB Chairman Ed Brady. “Home building is one of the most regulated industries in America. Indeed, government regulations account for nearly 25% of the cost of a new single-family home. “By moving decisively to pass the REINS Act and the Midnight Rules Relief Act, the House is sending a strong message that Congress should exercise its oversight to ensure that regulations must be subject to greater public scrutiny, based on sound science and undertaken only after a careful consideration of the costs and benefits. We urge the Senate to follow suit and swiftly pass these...

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NAHB Chair Details Legal Challenge to OSHA Rule

Posted by on Jan 7, 2017 in News

NAHB Chair Details Legal Challenge to OSHA Rule Filed in Codes and Regulations, Labor, Safety and Health, Leadership by NAHB Now on January 6, 2017 • 0 Comments NAHB has joined several other industry groups to file a challenge against the Occupational Safety and Health Administration (OSHA) and the Department of Labor regarding OSHA’s final Improve Tracking of Workplace Injuries and Illnesses rule, which NAHB Chairman Ed Brady called “unlawful and arbitrary” in a press statement issued Thursday. “We have vigorously opposed this rule from the start, and cannot allow this type of regulatory overreach to occur,” Brady said. “There are significant concerns associated with OSHA’s requirement of employers to submit detailed injury and illness logs to the agency for public posting. Not only does OSHA not have the authority to do this, it also exposes a business to significant reputational harm, all without demonstrating any evidence that it would effectively reduce workplace injuries and illnesses,” he said. “We also have serious concerns about the anti-retaliation portion of the rule, which would allow OSHA inspectors to cite an employer without needing a complaint from a worker. This is a clear overreach of authority, as it goes against Congress’s carefully constructed mechanism to address retaliation that is specifically set forth in the OSHA statute. “OSHA has not justified any of the rule’s requirements with any real benefits analysis and has relied entirely on anecdotal information. This is entirely insufficient and cannot be allowed to stand and potentially serve as a precedent for other agency rules. Workplace safety is of the utmost concern of our members, however this rule is unlawful and does not serve its intended purpose of improving workplace safety. The rule needs to be vacated and set aside in its entirety,” Brady said. For information about jobsite safety, contact NAHB’s Rob Matuga at 800-368-5242...

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