FHA Issues Temporary Waiver for New Single-Family Flood Elevation Requirements
The Federal Housing Administration (FHA) has announced a temporary waiver for new construction in Special Flood Hazard Areas as part of the Federal Flood Risk Management Standard requirements issued by the Department of Housing and Urban Development for single-family construction that took effect on Jan. 1, 2025.
The waiver means that the new elevation standard requiring that the lowest floor of new construction be at least two feet above the base flood elevation has been rescinded. This waiver applies to FHA-insured mortgages on new single-family construction.
In making its announcement, FHA said: “Without this partial waiver, the new MPS (minimum property standards) required elevation standard would have limited the land available for development and increased the cost of construction for FHA-insured single-family properties, thereby contributing to the insufficient supply of new construction housing and rising home prices.”
The partial waiver will be in effect for one year until Feb. 21, 2026.
Latest from NAHBNow
Fall Leadership Meeting
Jul 29, 2026
Register Now for NAHB’s Fall Leadership MeetingNAHB committee and council members, delegates to the Leadership Council, members of the Board of Directors, and executive officers should make plans now to attend the Fall Leadership Meeting, Oct. 6-8, in Detroit.
Economics
Jul 28, 2026
Acquisitions Increasing Among Home BuildersThe number of home builders reporting that they have been approached has doubled in less than a year, according to recent results from the NAHB/Wells Fargo Housing Market Index (HMI) survey.
Latest Economic News
Economics
Jul 28, 2026
How a Home Purchase Boosts Consumer SpendingThe housing market has changed greatly since the COVID-19 pandemic, along with consumer spending behaviors. During this period, housing demand surged, home prices appreciated rapidly, inflation increased, supply-chain disruptions happened, and mortgage rates moved from historic lows to elevated levels.
Economics
Jul 28, 2026
Median Lot Value Stabilizes as Regional Trends DivergeFollowing a multi-year run of record highs, the national median lot value for single-family detached spec homes largely stabilized in 2025. According to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC), the U.S. median lot value for homes started in 2025 was $59,000, compared with $60,000 a year earlier.
Economics
Jul 27, 2026
Share of Apartments Built in Buildings with 50+ Units Moves Higher in 2025Following the highest number of multifamily completions in nearly 40 years in 2024, completions declined in 2025 to 484,000, according to NAHB analysis of the Census Bureau’s Survey of Construction. For the ninth consecutive year, a majority of new multifamily units were in buildings with 50 or more units (labeled as high-density buildings) at 57%, the highest share since 2021.