Video: Chairman’s Update on the Supply Chain Crisis and the ‘Great Resignation’
In the November Chairman’s Update, NAHB Chairman Chuck Fowke provides an overview of two events he recently attended on Capitol Hill, advocating on behalf of NAHB members and residential construction, and offers insight into what the “Great Resignation” of workers in response to COVID-19 means for the housing industry.
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NAHB to Kick Off Professional Women in Building WeekJoin NAHB Sept. 9-13, 2024, for a week of inspiring content, including Shop Talk discussions, blog posts and social media shout-outs that showcase the achievements of women across all areas of the industry, as well as NAHB’s combined efforts to promote, train, advance and welcome more women to the field.
Latest Economic News
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August Job Gain Led by ConstructionToday’s jobs report and the newly released preliminary estimate of the benchmark revision indicate that the U.S. labor market is slowing from its overheated state in 2021 and 2022 but remains stable.
Economics
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Mortgage Rates Continued to Decline in AugustMortgage rates continued to decrease in August, landing at an average rate of 6.50%. According to Freddie Mac, the average monthly rate fell by 35 basis points (bps) from July’s rate of 6.85%. The August rate is down 57 bps from one year ago, which stood at 7.07%.
Economics
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Refinancing Activity Jumped in August as Mortgage Rates DeclinedThe Market Composite Index, a measure of mortgage loan application volume by the Mortgage Bankers Association’s (MBA) weekly survey, saw a month-over-month increase of 10.7% on a seasonally adjusted (SA) basis.
Economics
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House Price Appreciation by State and Metro Area: Second Quarter 2024House price appreciation was recorded in all 50 states and the District of Columbia. Limited resale inventory and strong growth in demand continued to put upward pressure on house prices.