Industry News and Updates

Construction spending ticks up, led by housing

by HBA of North Georgia on 02/09/19

What happened: Economists surveyed by Econoday had forecast a 0.2% increase, but October figures were revised down. Outlays in November were 3.4% higher than a year ago, and for the first 11 months of 2018, were 4.5% higher than the same period in the prior year.

Big picture: Residential construction spending was up 3.4% during the month, and was 0.6% higher for the year. That’s good news for the supply-starved housing sector. In November, overall private-sector spending was 1.3% higher for the month, edging out a 0.9% decline in public-sector spending.

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Americans are starting to feel better about buying homes — sort of

by HBA of North Georgia on 02/09/19

The share of Americans who say it is a good time to buy a home increased 4 percentage points to 15 percent in January compared with December, according to a monthly survey from Fannie Mae.
Home price gains have been shrinking since last summer and are now rising at the slowest pace in more than six years, according to CoreLogic.
The share of Americans who say home prices will go up fell 1 percentage point to 30 percent.

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NAHB Supports Trumps Supreme Court Nomination

by HBA of North Georgia on 03/25/17

Judge Gorsuch has an excellent record as a judge and would make a fabulous addition to the Supreme Court.

NAHB senior leadership has long viewed Gorsuch, a respected jurist, as an excellent Supreme Court candidate, and with a number of important land use decisions facing the court, want to see the vacant position filled quickly.

Luckily for us, Georgia has two senators that will stand behind the nomination and see that Judge Gorsuch is appointed to the Supreme Court. For those in other states, the NAHB is launching a grassroots, and social media effort to make sure that Gorsuch is seated in a timely manor.

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Builder Confidense at Highest in 12 Years

by HBA of North Georgia on 03/23/17

Optimism among single-family builders this month is the strongest it has been since 2005. Much of this positive sentiment stems from the widely anticipated reductions of government regulations. A prime example was the recent executive order to roll back the Waters of the United States rule that affects builders' and developers' wetlands permits. However, we can expect some moderation in builder confidence in the months ahead, as interest rates rise and headwinds persist for access to lots and labor.

As expected, last week the Federal Reserve increased the short-term federal funds rate for just the third time in the post-recession era. Much of the Fed's stance is fueled by a strengthening labor market, which added 235,000 jobs last month. As the rate of inflation approaches the 2% target rate, NAHB forecasts two additional rate hikes this year.

Additional price pressures can be seen on the supply side of the industry. Gypsum prices have increased more than 6% in the first two months of 2017, and softwood lumber prices rose almost 5% due to the ongoing lumber trade dispute between the U.S. and Canada. As housing starts continue to rise in the months and years ahead, additional sources of lumber will be required.

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President Trump Rolls Back the Waters of the US Rule

by HBA of North Georgia on 02/28/17

Another promise kept! President Trump kept a promise he made to home builders by signing an executive order to resend or revise the overreaching Water of the US rule. As, once again, the EPA had over stepped its authority by giving themselves the ability to regulate practically any standing or flowing water on private land.

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