Podcast: Election 2024 – The Day After
On the latest episode of NAHB’s podcast, Housing Developments, CEO Jim Tobin and COO Paul Lopez dive into the 2024 election results.
At the time of the recording, the presidential election has been decided in favor of Donald Trump, the Republicans have control of the Senate, and control of the House of Representatives is still to be determined.
So what does this mean for housing?
“Trump’s [housing] plans were not as fully fleshed out as Harris’s plans, so for me, that means there’s more of a blank slate — so opportunity,” Tobin stated. “This is where the hard work begins for NAHB and for the staff team here. I’ve been talking about seizing on the political moment that housing has into now a policy moment.”
NAHB’s advocacy team will delve deeper into the election results and what to expect during the “What’s Next in Housing: 2024 Post-Election Analysis” webinar, taking place Nov. 13 at 12 p.m. ET.
NAHB’s economic team will also be following the impact of the election on Eye on Housing.
Another important initiative that NAHB is championing is the Home Building Industry Disaster Relief Fund. NAHB has launched a matching campaign up to $500,000, which will last through March 1, 2025. Visit nahb.org/give to learn more and donate.
Listen to the full episode of the podcast below, and subscribe to Housing Development through your favorite podcast provider or watch all the episodes on YouTube.
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The National Association of Home Builders (NAHB) released the NAHB Remodeling Market Index (RMI) for the third quarter, posting a reading of 62—up one point compared to the previous quarter.
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Latest Economic News
In the third quarter of 2026, the NAHB Remodeling Market Index (RMI) posted a reading of 62, up one point compared to the previous quarter. The RMI has remained within a narrow band between 59 and 70 for the past four years.
Mortgage application activity declined as the 30-year fixed mortgage rate rose sharply. The Mortgage Bankers Association’s (MBA) Market Composite Index, a measure of total mortgage application volume, decreased 7.7% month-over-month in September on a seasonally adjusted basis. Compared to a year ago, total mortgage applications were lower by 35.4%.
Mortgage rates rose sharply in September as multiple factors applied significant upward pressure on the U.S. treasury yields. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.86% in September, up nearly 20 basis points (bps) from August.