HBI Seeks Participants for Labor Shortage Study
The University of Denver, in collaboration with the Home Builders Institute (HBI) and Fannie Mae, is finalizing a pivotal research study on the impact of labor shortages on housing affordability.
To help inform the study, HBI is looking for builders to participate in this research project. HBI’s aim is to collect a minimum of 50 case studies from a diverse group of builders, including small (10-100 homes), medium (100-1,000 homes), and large (over 1,000 homes) builders. The University of Denver will finalize the study next week, which will include a 60-minute interview with the identified builders via Zoom.
Eligible respondents will receive free sponsorship acknowledgment at the HBI reception at the 2025 International Builders’ Show in February in Las Vegas and be acknowledged in the final report, which will be shared with all participants.
Your participation will provide invaluable insights and data, contribute to a comprehensive understanding of this critical issue and help develop effective solutions that can transform the industry.
Please contact Paula Morris, HBI executive office manager, as soon as possible to participate.
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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.