HBA Staff Appreciation Week Kicks Off Today
NAHB’s greatest asset is the strength of its local and state home builders’ associations staffed by association professionals dedicated to serving the home building industry. Whether organizing events, advocating for the residential construction industry or providing valuable services to members, each HBA staff member plays a crucial role in the Federation’s success.
The inaugural HBA Staff Appreciation Week (Nov. 11-15, 2024) honors and celebrates the hard work and commitment of the association management professionals across the Federation. HBA staff are invested in the industry’s success and members and serve as a trusted resource for home building information in their communities. As the face of the industry, HBA staff works tirelessly to support their communities, from educating consumers about post-disaster contractor scammers to introducing students to a career in the trades.
This week, HBA staff can hear from their members and colleagues about how their work makes a difference. Members are encouraged to submit a shout-out to be featured on the HBA Staff Appreciation Week page and post social media messages using #HBAStaffWeek or #NAHBLocalLeaders.
Visit the HBA Staff Appreciation Week page to learn more about events happening throughout the week and ideas on how to celebrate.
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Latest Economic News
The U.S. labor market rebounded in October, with nonfarm payroll employment increasing by 165,000 jobs and the unemployment rate declining to 4.1%. However, the improvement in overall employment contrasts with continued weakness in residential construction, where employment fell by 16,400 jobs, the largest monthly decline since March 2021.
New multifamily housing confidence weakened year-over-year in the third quarter, according to the Multifamily Market Survey (MMS) by the National Association of Home Builders (NAHB). The MMS produces two separate indices. The Multifamily Production Index (MPI) had a reading of 41, down five points year-over-year, while the Multifamily Occupancy Index (MOI) had a reading of 69, also down five points year-over-year.
Mortgage application activity declined in October as the 30-year fixed mortgage rate rose sharply again. The Mortgage Bankers Association’s (MBA) Market Composite Index, a measure of total mortgage application volume, fell 14.1% month-over-month in October on a seasonally adjusted basis. Compared to a year ago, total mortgage applications were 39.8% lower.