Protect Your Business with Updated Contracts from NAHB
To help residential construction business owners protect their organizations, NAHB offers 27 contracts written specifically for home builders and remodelers that cover a wide range of construction industry activities.
NAHB Contracts has long been a go-to resource for home builders looking to save time and money in the development of their critical contracts. Now is the perfect time to explore NAHB Contracts because many were recently updated to reflect key changes in the market.
Nearly all the contracts have been significantly modified to expressly address the potential impacts from pandemics and epidemics. New language also gives contract parties the flexibility to amend the time for performance due to labor and material shortages.
Another notable update includes a substantially revised “New Home Plans & Specifications” document with almost 40 categories that allow for more detail such as listing the products to be used by brand and model, special installation requirements, finishes, sizes, dimensions, and more.
NAHB Contracts are divided into five broad categories covering most legal agreements in residential construction:
- Construction Contracts
- Sales Contracts — Completed Dwellings
- Contract Exhibits — Additional Terms (which include contracts for change orders)
- Remodeling Contracts
- Subcontracts
Check out NAHB Contracts today to get updated legal documents that will protect your business and help you get back to building and remodeling homes. NAHB members received discounted pricing on the contracts.
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The percentage of new apartment units that were absorbed within three months after completion was down five percentage points in the first quarter, according to the Census Bureau’s latest release of the Survey of Market Absorption of New Multifamily Units (SOMA).
New single-family home size had been falling since 2015 in response to declining affordability conditions. An exception occurred in 2021, when new home size increased as interest rates reached historic lows.
The latest report shows the Federal Reserve’s preferred inflation gauge remains sticky in July, complicating the Fed’s path to its long-term 2% target. Meanwhile, consumer spending remains resilient but is showing signs of slowing, with real consumer spending unchanged in July. Households are pulling back on spending amid persistent inflation.