The Fannie Mae Home Purchase Sentiment Index (HPSI) rebounded in June after dipping to an all-time survey low in the previous month. The index increased 3.2 points to a reading of 72.6; the full index is up 6.6 points year over year.
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The Market Composite Index, a measure of mortgage loan application volume by the Mortgage Bankers Association’s (MBA) weekly survey, increased by 8.2% on a seasonally adjusted (SA) basis from May to June. In comparison to June 2023, the index is up by 1.0%.
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The National Association of Home Builders (NAHB) called on Congress Wednesday to support policies that will allow home builders to construct more homes and apartments to help ease the nation’s housing affordability crisis and provide better, more affordable housing opportunities for all American households.
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A U.S. District Court judge in the Northern District of Texas partially blocked the Federal Trade Commission’s ban on noncompete agreements for most workers and plans to rule on the case’s merits by August 30th. The National Association of Wholesaler-Distributors (NAW) applauded the decision, with Chief Government Relations Officer Brian Wild stating that the noncompete ban “does not serve the interests of businesses, workers or consumers.” NAW filed an amicus brief in May that argued the FTC’s proposal relied on cherry-picked data and overstepped the agency’s authority.
Read more at NAW
Reaching the highest level of multifamily completions since 1987, 450,000 multifamily units were completed in 2023, with 216,000 units completed in buildings with fewer than 50 units according to NAHB Analysis of the Census Bureau’s Characteristics of Units in New Multifamily Buildings Completed. This was the highest number of units in such buildings since 2006.
Lumber prices have been trending down recently, in large part due to weaker demand on the market, according to recent reports from Madison’s Lumber Reporter and the NAHB.
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The National Association of Wholesaler-Distributors (NAW) has launched the NAW Legal Policy Center to advocate for the wholesale distribution industry through precedent-setting litigation in defense of free enterprise. The recent Supreme Court decision to overturn the Chevron doctrine means NAW now has greater opportunities to challenge regulations and support a fair regulatory environment for business innovation and economic growth.
Read NAW Press Release
After a solid start to the year, seasonally adjusted new-home sales cooled in both May and early June, according to the latest Zonda New Home Market Update. The recent sales dip isn’t linked to a single big event, reports Zonda. Rather, the housing data provider attributes the shift to persistently high housing costs, buyer fatigue, and cautiousness ahead of the election.
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The most recent National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), released last week, shows the reading for builder confidence in the market for newly built, single-family homes at 43 in June, down two points from May. That’s the lowest since December 2023.
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Over the first four months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 336,124. On a year-over-year (YoY) basis, this is an increase of 25.3% over the April 2023 level of 268,205.
World Millwork Alliance (WMA) 54 TH Annual Convention & Tradeshow will hold its’ premier event at the Memphis Cook Convention Center from September 11-15, 2018. WMA will offer Veterans and Students complimentary access to the exhibit hall during Millwork Career Day on Friday, September 14, 2018 during the show hours of 10:00 a.m. – 3:30 p.m.
WMA welcomes Veterans and Students to explore a career in the millwork industry. Learn from worldwide millwork professionals while viewing the finest millwork products. Meet with industry distributors and manufacturers about the opportunities in a millwork career.
Pre-registration for a name badge is available by completing a WMA Registration Form. Any local Student or Veteran who has pre-registered will pick up their complimentary “Expo – One Day Pass” with a valid student ID or Veteran ID at the WMA registration desk in the Memphis Cook Convention Center.
Veterans must show a Veteran’s Administration (VA) identification card to receive an “Expo-One Day Pass” and to gain entrance into the exhibit hall on Friday, September 14, 2018.
Students must show a valid Student photo I.D. card to receive an “Expo-One Day Pass” and to gain entrance into the exhibit hall on Friday, September 14, 2018.
Pre-registration is open until August 13, 2018; thereafter, registration is onsite at the WMA registration desk in the Memphis Cook Convention Center.
