Articles Tagged with ''National Association of Home Builders''

Home builders group: New tariffs on Chinese goods are a tax on housing

New tariffs are slated to affect materials related to housing construction
New tariffs against China could add $1 billion in costs to goods involved with housing construction. According to CNBC’s Realty Check, the NAHB estimates that of the 6,000 goods under the umbrella of the latest round of tariffs, roughly 600 products, representing $10 billion in goods, are related to the construction of new apartments and homes.
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Homebuilder confidence holds its ground

Although cost causes concern, demand is persistent
Although homebuilders still fear increasing material costs, homebuilder confidence remained unchanged at 67 in September, according to the National Association of Home Builders/Wells Fargo Housing Market Index.
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August jobs report: Unemployment holds steady at 3.9%

Non-farm payrolls increased by 201,000
The unemployment rate in August remained at 3.9%, according to the latest Employment Situation Summary report from the U.S. Bureau of Labor Statistics. One economist said the 9 year high in wage growth ensures the federal government will raise rates at their meeting later in September.
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Trump administration wants to make it easier to save for retirement

Executive order seeks to strengthen retirement security
Americans have not saved enough for retirement, and it’s a problem that some are calling a looming crisis as the population continues to age. President Donald Trump addressed the issue today, signing an executive order that would expand access to retirement savings plans for American workers.
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Freddie Mac: August forecast shows affordability hinders growth

Supply and demand deter prospective homebuyers
Home sales growth is expected to slow through the remainder of the year, as a lack of affordability and supply contribute to a continual slowdown, according to Freddie Mac’s August Forecast. Freddie Mac Chief Economist Sam Khater said these challenges were predominantly seen in expensive markets out West.
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NIMBYism is depressing multifamily developers

“Not In My Backyard” is keeping some developers from building
Multifamily developers’ confidence in the health of the market fell over the last few months, thanks to a combination of factors, including the threat of rising construction costs due to tariffs and NIMBYism standing in the way of new multifamily developments getting off the ground.
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Decreasing home sales reveal an underwhelming market

Zillow Senior Economist Aaron Terrazas thinks the market is in trouble
New home sales decreased in July as the market continues to remain relatively static, according to the new report from the Census Bureau and the Department of Housing and Urban Development. Zillow Senior Economist Aaron Terrazas said that home sales once again disappointed expectations, indicating that the market is in trouble.
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Housing starts ticked up in July

Single-family housing starts climbed to 862,000 in July
Housing starts slightly increased a bit in July, according to the latest report from the U.S. Census Bureau. PricewaterhouseCoopers Principal Scott Volling said that homebuilders are being affected by a slight increase in inventory.
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Freddie Mac: Mortgage rates decrease slightly but there's no relief in sight

Affordability threatens homebuyer demand
Mortgage rates decreased by just a few basis points, but remain above 4.5%, according to Freddie Mac’s latest Primary Mortgage Market survey. Freddie Mac Chief Economist Sam Khater said it’s clear that in some markets the combination of ascending home prices, limited affordable inventory and this year’s higher rates are curtailing homebuyer demand.
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Homebuilder confidence falls to lowest level in 2018

Affordability contributes to slight decline
Concerns about market affordability contributed to homebuilder confidence falling one point to 67 in August, according to the National Association of Home Builders/Wells Fargo Housing Market Index. NAHB Chief Economist Robert Dietz said builders are monitoring how tariffs and the impending trade war are affecting key building material prices, including lumber.
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