NAHB Launches Fundraising Campaign for the Home Building Industry Disaster Relief Fund
NAHB is committed to Building Homes, Enriching Communities and Changing Lives. When disaster strikes, these principles take on an even greater meaning.
To help fulfill this mission, NAHB has launched a matching campaign to support rebuilding efforts in communities impacted by natural disasters. NAHB will match dollar-for-dollar all donations made Nov. 1, 2024, through March 1, 2025, to the Home Building Industry Disaster Relief Fund (HBIDRF) — a recognized 501(c)(3) charitable organization — up to $500,000.
All funds raised for the HBIDRF through this matching campaign will support the partnership of local charities and state and local home builders’ associations to address the rebuilding needs of devastated communities.
Since 2005, the HBIDRF has disbursed over $2 million to assist areas across the U.S. affected by natural disasters, including recovery efforts from hurricanes, tornadoes, floods and wildfires.
To learn more about the HBIDRF and how you can support this campaign, visit homebuildersfund.org.
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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.