NAHB Implores Members to Take Action on the Promoting Resilient Buildings Act
NAHB advocates on behalf of its members for a wide range of issues that affect the residential construction industry. Recently, Heather Voorman, assistant vice president of government affairs, provided an update on the Promoting Resilient Buildings Act, including how members can help pass the bill.
“This critical legislation would preserve a definition of latest published editions of building codes for FEMA’s pre-disaster hazard mitigation program to include the latest two additions of building codes,” said Voorman. “This key provision will allow more states to qualify for these important funds and will also preserve local control over the code adoption process.”
The bill passed the House unanimously and passed the Senate Committee on Homeland Security and Governmental Affairs with full committee support.
As the end of the year approaches, NAHB has launched a grassroots effort to attach the Promoting Resilient Buildings Act to the Emergency Disaster Supplemental bill.
Members can visit builderlink.org to send a letter to their senator.
Latest from NAHBNow
The U.S. Department of the Treasury and the Internal Revenue Service have announced new Opportunity Zone designations for more than 6,500 communities nationwide, effective Jan. 1, 2027.
Member-to-member recruitment is essential for growing NAHB’s membership. Here are the perks members are being rewarded with for their efforts.
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.