What Do the Midterm Results Mean for Housing?

Advocacy
Published

This post was updated on Dec. 7.

NAHB Chief Lobbyist Jim Tobin provides an analysis of the midterm elections and what’s in store for housing in the new Congress.

Midterm elections are always a referendum on the occupant of the White House, and the 2022 midterms were no exception. With both parties well-funded by record-breaking campaign spending and both chambers of Congress closely divided, it did not take a “wave” election for either party to claim the majority; it was merely a question “by how many seats.”

The high number of early voting ballots and the counting rules in many states make election night more of an election season. Eight days after the midterm elections, Republicans were able to claim a narrow victory in the House. Democrats retained the Senate with a slim 51-49 margin, as the final Senate contest was called on Dec. 6 when Sen. Raphael Warnock (D-Ga.) defeated Republican challenger Herschel Walker in a Georgia Senate runoff election. The anticipated GOP wave never materialized, and the electorate is split down the middle.

What does this all mean for home building and housing?

Regardless of the final House and Senate tallies, any legislation with a prayer of being signed into law by President Biden must be bipartisan. While the next speaker of the House can likely wrangle the 218 votes needed to move legislation, Senate Majority Leader Chuck Schumer (D-N.Y.) does not have the 60 votes needed to overcome a filibuster. So the parties will need to negotiate and compromise to move important legislation forward in the next Congress, including housing legislation.

Housing has always been a bipartisan issue. High home prices have pushed ownership out of reach for most Americans and sky-high rents are punishing renters. The housing affordability crisis in America has become a top-tier political issue. As the Federal Reserve continues to tighten monetary policy and the housing sector faces a recession, Congress and the administration must turn their focus to policy solutions that lower the cost of building and allow the nation’s home builders to expand housing production.

NAHB is poised to work with the new Congress to propose bipartisan solutions to create more affordable and attainable housing.

View the complete election analysis.

Subscribe to NAHBNow

Log in or create account to subscribe to notifications of new posts.

Log in to subscribe

Latest from NAHBNow

Economics

Jul 18, 2025

Single-Family Starts Weaken in June as Affordability Challenges Persist

Due to a solid increase in multifamily production, overall housing starts increased 4.6% in June to a seasonally adjusted annual rate of 1.32 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

Safety

Jul 17, 2025

Stay on Top of Wood Framing Safety Policies

Wood framing is an integral part of the home building process, and one job that many general contractors take on themselves. But even with familiarity of the task, specific safety precautions should be followed during framing.

View all

Latest Economic News

Economics

Jul 18, 2025

Single-Family Starts Weaken in June as Affordability Challenges Persist

Single-family housing starts declined in June to the lowest rate since July 2024 as elevated interest rates, rising inventories and ongoing supply-side issues continue to act as headwinds for the housing sector.

Economics

Jul 17, 2025

Builder Confidence Edges Up in July

Builder confidence for future sales expectations received a slight boost in July with the extension of the 2017 tax cuts, but elevated interest rates and economic and policy uncertainty continue to act as headwinds for the housing sector.

Economics

Jul 16, 2025

Producer Prices for Metals and Equipment Show Large Increases

Residential building material prices rose in June, driven primarily by higher construction machinery and equipment part prices. Metal commodities also experienced significant increases, following recently implemented tariffs on steel and aluminum. Meanwhile, price growth for services used in construction continues to outpace both domestic and imported goods.