NAHB to Host its Fall Construction Forecast Webinar Next Week

NAHB Media Advisory

WASHINGTON, Sept. 25 - The National Association of Home Builders (NAHB) will host its Semi-Annual Construction Forecast Conference on Wednesday, Oct. 2, in a two-hour webinar from 2:00-4:00 p.m. ETfeaturing three renowned industry experts.

WHEN:
Wednesday, Oct. 2, 2013
2:00 - 4:00 p.m. ET

WHAT:
Nationally-recognized housing and economics experts will join together for a lively discussion on what's ahead for housing. Topics will include:

• Housing's role in the recovery
• Variations by market and where the recovery lags and leads
• Headwinds hindering the housing recovery, such as materials prices, labor shortages and tight credit
• Tailwinds pushing housing such as demographics and pent-up demand
• Future Federal Reserve actions and their impacts

The schedule of speakers includes:

• David Crowe, PhD, chief economist and senior vice president, NAHB
• Mark Zandi, chief economist, Moody's Analytics
• Robert Denk, assistant vice president for forecasting and analysis, NAHB

Participants will have the opportunity to submit questions during the webinar. For more information, visitwww.nahb.org/cfw.

TO REGISTER:
Registration for NAHB members is $29.95 and $49.95 for non-members. To register for the webinar or for additional information, please visit www.nahb.org/cfw. Before the event, participants will receive an email with specific log-in instructions to gain access to the live meeting.

New-Home Sales Rise 7.9 Percent in August

NAHB Press Release

WASHINGTON, Sept. 25 - Sales of newly built, single-family homes rose 7.9 percent to a seasonally adjusted annual rate of 421,000 units in August, according to newly released figures from HUD and U.S. Census Bureau. The gain partly offsets a dip in sales activity that occurred in July as consumers reacted to higher interest rates.

"Consumers are adjusting to the reality of today's higher rates following a period of record-setting lows, and today's sales report provides evidence of that," said Rick Judson, chairman of the National Association of Home Builders (NAHB) and a home builder from Charlotte, N.C. "We expect to see more buyers coming back to the market as the psychological effects of the rate gains continue to wear off, particularly since, even after the recent spike, mortgage rates remain exceptionally favorable on a historic basis."

"Sales of new homes bounced partway back in August from an unusual low in July," said NAHB Chief Economist David Crowe. "That said, we are only about halfway back to what would be considered a sustainable level of activity in a normal economy, and the ongoing housing recovery continues to be slowed by consumers' concerns about interest rates, as well as weak job growth and uncertainty about what's happening in Washington."

Three out of four regions posted solid gains in new-home sales activity in August. Sales rose 8.8 percent in the Northeast, 19.6 percent in the Midwest and 15.3 percent in the South for the month. The West was the exception to the rule, with a 14.6 percent decline.

While the months' supply of new homes edged down to 5.0 due to the quicker sales pace in August, the total inventory rose for a seventh consecutive month, to 175,000 units.

Statement from NAHB on Clean Water Act Guidance Withdrawal

NAHB Press Release

WASHINGTON, Sept. 18-The National Association of Home Builders (NAHB) Chairman Rick Judson issued the following statement today on the decision to withdraw the proposed Clean Water Act guidance in favor of a proposed rulemaking.

"The National Association of Home Builders applauds the U.S. Army Corps of Engineers' and Environmental Protection Agency's joint decision to withdraw their proposed Clean Water Act guidance and instead propose a rulemaking. We have tried for years to convince the agencies to bring clarity and consistency to questions of Clean Water Act jurisdiction and these efforts have finally borne fruit. We look forward to studying the proposed rule on its release and hope that the promised clarity will not come in the form of a "one size fits all" approach that assumes that a roadside ditch and riparian wetland have the same importance or nexus to navigable waters."

Single-Family Production Pushes Housing Starts Up in August

NAHB Press Releases

WASHINGTON, Sept. 18 - Led by a solid increase in single-family starts, nationwide housing production rose 0.9 percent to a seasonally adjusted annual rate of 891,000 units in August, according to figures released today by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Meanwhile, construction of multifamily buildings slowed following a rebound in the previous month.

"Overall, this is an encouraging report as builders are seeing pent-up demand begin to be released for single-family homes despite headwinds such as rising mortgage rates and tight credit conditions," said Rick Judson, chairman of the National Association of Home Builders (NAHB) and a home builder from Charlotte, N.C.

"This is the kind of signal we've been looking for, with single-family starts and permits up or holding steady across every region in the nation," said NAHB Chief Economist David Crowe. "Today's report is reflective of gradual improvement in buyer confidence in the overall market and our recent surveys that indicate a solid outlook for single-family production. On the multifamily side, we are catching up with underlying rental demand. We expect to see additional multifamily starts in the future, but not as rapid a pace of growth as we've seen in the past."

Single-family housing starts rose 7 percent to a 628,000 unit pace. Regionally, single-family starts activity rose 9.6 percent in the Northeast, 7.1 percent in the Midwest, 2.3 percent in the South and 17.5 percent in the West.

The annualized rate of multifamily production fell 11.1 percent to a seasonally adjusted annual rate of 263,000 units.

Overall building permits, which are an indicator of future building activity, declined 3.8 percent to 918,000 units in August. This was due entirely to a pullback in the multifamily sector, where permits fell 15.7 percent to 291,000 units. Single-family permits posted a 3 percent gain to 627,000 units - the best pace since May of 2008.

Regionally, single-family permit issuance increased 2.9 percent in the Midwest, 2.5 percent in the South, 5.3 percent in the West and held steady in the Northeast.