Tag Archives: National Association of Home Builders

Builder confidence fell three points in April to 25, matching the lowest point of the year, the National Association of Home Builders reported Monday. The month-over-month decline was the first since last September. All three components of the index - current sales, sales six months out, and buyer traffic - fell in April, with buyer traffic slipping to a four-month low. The builder assessment of present home sales conditions dropped three points to 26. The outlook for home sales in the next six months also fell three points to 32, retreating from a near five-year high. Buyer traffic slid to 18 from 22 in March.

New homes sales fell 1.6 percent in February to a seasonally adjusted annual rate of 313,000, the second straight monthly decline, the Commerce Department and Department of Housing and Urban Development reported jointly Friday. Sales for January were revised downward from 321,000 to 318,000.

Builder confidence was flat in March, matching a downwardly revised February index of 28, the first time in six months the index has not increased, the National Association of Home Builders reported Monday. The builder assessment of present home sales conditions actually dipped in March, falling to 29, the first decline since last September. The outlook for home sales in the next six months rose to 36 - the highest level since June 2007 - from 34 in February. Buyer traffic was flat in March at 22.

The number of housing markets showing measurable improvement expanded by 29 metros in February to include a total of 98 markets listed on the Improving Markets Index from First American and the National Association of Home Builders. The index tracks markets that are showing signs of improving economic health as measured by growth in employment and home price appreciation. Notable additions include Miami and Detroit. Washington, D.C. was dropped from the index this month as it showed a softening in home prices.

A group convened on the steps of the South Carolina State House Thursday to express their support of homeownership and opposition to policy changes that might threaten the American Dream. The outlook expressed at the rally mirrors widespread sentiment uncovered in a recent industry survey. About three-fourths of American voters said it is ""appropriate and reasonable"" for the federal government to promote homeownership through tax incentives.

The number of housing markets showing measurable improvement nearly doubled in January, with the addition of 40 new metros to the Improving Markets Index put out by First American and the National Association of Home Builders (NAHB). The index tracks housing markets that are showing signs of improving economic health based on three independent datasets - employment growth from the Labor Department, home price appreciation from Freddie Mac, and single-family housing permits from the Census Bureau.

As the year comes to a close, details of the Middle Class Tax Cut and Job Creation Act are up in the air, and a few housing industry groups are speaking out about one aspect of the act. The Mortgage Bankers Association, the National Association of Home Builders, and the National Association of Realtors together composed a letter to Congress expressing concerns over a proposal to raise Fannie Mae and Freddie Mac's guarantee fees to help cover the cost of extending the payroll tax cut.

Integrated Mortgage Solutions (IMS) now offers a cost-effective, long-term solution to defective drywall, a problem that has plagued thousands of homes, particularly along the Gulf Coast. The term defective drywall refers to a type of drywall that releases sulfur compounds, especially in warm, moist climates. Salvaging a home with defective drywall required major reconstruction to replace all the drywall in the structure, but IMS now offers an on-location solution that requires about one-third of the time and about one-half of the cost of traditional methods.

At a Senate hearing titled, ""New Ideas to Address the Glut of Foreclosed Properties,"" industry experts shared varying opinions on the concept of Fannie Mae and Freddie Mac conducting bulk sales of REOs to investors, but most agreed that long-term investors from the private sector should be part of the solution. One analyst with Amherst Securities says investors are the only potential buyers for many distressed homes likely to hit the market over the next five to six years.

What many consider to be a staple of American homeownership is expected to be on the chopping block as lawmakers look to trim the nation's deficit. The prized mortgage interest tax deduction has been part of the federal tax code since 1913. Currently, it costs the U.S. Treasury an estimated $94 billion a year. Congress has tossed around several proposals for amending this part of the federal tax code, including lowering the debt limit to $500,000 on first mortgages. Such a move is estimated to return between $5 billion and $15 billion.