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New Home Sales in March Continue Upward Trend

Posted by on Apr 26, 2017 in News

Filed in Economics, Home Building by NAHB Now on April 25, 2017 • The new Heritage Sands development on Cape Cod in Massachusetts is a Best in American Living award winner. Photo by Alison Caron.           Sales of newly built, single-family homes rose for the third straight month, increasing 5.8% in March to a seasonally adjusted annual rate of 621,000 units, according to newly released data from HUD and the Census Bureau. “This month’s increase in new home sales is aligned with solid builder confidence and shows that the spring home buying season is off to a strong start,” said NAHB Chairman Granger MacDonald. “However, builders are concerned that ongoing increases in building material costs will hurt housing affordability, especially given today’s proposal by the Department of Commerce to impose a hefty tariff on Canadian lumber.” “The March sales numbers are the second highest on record since the Great Recession, which is especially encouraging considering the poor weather conditions throughout many parts of the country,” said NAHB Chief Economist Robert Dietz. “With tight existing home inventory, rising household formations and continued job creation, we can expect further growth in new home sales moving forward.” The inventory of new homes for sale was 268,000 in March, which is a 5.2-month supply at the current sales pace. The median sales price of new houses sold was $315,100. Regionally, new home sales increased 25.8% in the Northeast, 16.7% in the West and 1.6% in the South. Sales fell 4.5% in the Midwest. For additional analysis, read Dietz’s Eye on Housing blog...

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How the Silica Rule Impacts Your Bottom Line

Posted by on Apr 11, 2017 in News

How the Silica Rule Impacts Your Bottom Line Filed in Codes and Regulations, Labor, Safety and Health, Membership by NAHB Now on April 7, 2017 • Nothing underscores the value of NAHB membership quite like cash savings. NAHB economists recently tallied it up and confirmed just how much our members are saving this year. The combined effect of NAHB’s legislative victories and program initiatives from the past year amount to an average savings of nearly $6,000 per builder for each housing start in 2017. One prime example of a victory that’s positively impacting builders’ bottom lines is the delay of OSHA’s proposed rule regarding the release of silica on job sites. Our experts determined the delay amounts to an estimated savings of $1,500 per builder, per start. Go to nahb.org/savings for more about the financial impact of the delayed silica rule. Additional examples of the value of NAHB membership will also be highlighted throughout the coming...

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