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Industry Insights

Executive Updates


Rise in Female, Associate Membership Highlighted in NAHB's Member Census

The portion of women within the housing industry continues to rise, as evidenced within NAHB’s latest annual member census.

The number of female NAHB members rose for the eighth consecutive year in 2022. Women now account for 26% of all Associates — NAHB’s largest community of members — and 11% of NAHB’s Builder members, which is an all-time high.

Senate Bill Would Repeal Onerous Energy Codes Provision

At NAHB’s urging, Sen. Mike Braun (R-Ind.) introduced S. 2806, the Homeowner Energy Freedom Act, legislation that would repeal a section of the Inflation Reduction Act that provides $1 billion to pressure state and local governments to adopt costly and restrictive energy codes.

How to Get Started in Offsite Construction

Offsite construction continues to be a hot topic in the building industry and beyond for its efficiency and speed amid the current housing supply shortage. Despite its growing appeal, however, only 2% of homes are constructed using offsite building methods.

These building methods often require a shift not only in construction techniques and materials, but in companies’ business models as well, which can be daunting to builders.

Labor Department Proposes Changes to Overtime Pay Rules for Certain Salaried Workers

Late last week, the U.S. Department of Labor (DOL) issued a proposed rulemaking that would extend eligibility for overtime pay to roughly 3.6 million salaried workers.

Specifically, the agency’s proposal would increase the current salary level for determining overtime pay requirements for executive, administrative, professional, outside sales, and computer employees from $684 a week ($35,568 annualized) to $1,059 a week ($55,068 annualized) – a nearly 55% increase.

Housing Headlines

New homes are trending smaller

Home sizes in the U.S. increased in 2021 amid pandemic-related desire for more space, but according to new data from the National Association of Homebuilders (NAHB), today’s homes are trending much smaller.

Mortgage demand stalls at a level not seen since 1996

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances — $726,200 or less — increased to 7.27% from 7.21%, with points increasing to 0.72 from 0.69, including the origination fee, for loans with a 20% down payment.

‘The dream of homeownership is alive,’ says Bank of America’s head of retail lending. But, for many, it’s just that — a dream.

The housing market is out of whackMortgage rates and housing unaffordability have hit multidecade highs, and low inventory has made matters more difficult for would-be buyers across the board.

It may be little surprise, then, that sales of existing homes and new builds are cooling. Older homeowners are staying put, and younger would-be buyers are strapped for cash.

Mortgage rates inch up, lingering above 7%

US mortgage rates ticked up this week, ending a two-week streak of slight declines. Rates have remained over 7% for five consecutive weeks as inflation pressure continues to linger.

The 30-year fixed-rate mortgage averaged 7.18% in the week ending September 14, up from 7.12% the week before, according to data from Freddie Mac released Thursday. A year ago, the 30-year fixed-rate was 6.02%.

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