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Week of September 27, 2004
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n Bipartisan Panel Wants to Interject Housing Issues Into Presidential Debates and Congressional Races
n Register for Sunbelt Builders Show on Oct. 20-23
n Structured Wiring Among Technological Advances Transforming the American Home
n Housing Snapshot
 
President's Message
n Please Take the Time to Help Us Solve the GLI Crisis
 
Housing and Economics
n Housing Starts at a Gallop in August, Returning to the Fastest Pace of the Year
n With 9.4% Increase in August, New Home Sales Barreling Towards Another Record Year
n Housing Market Index for September Finds Builder Confidence Down, But Not Out
n Eye on the Economy
 
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n My Key Employees Want Stock: What Should I Do?
 
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n Marketing and Designing Homes for Reluctant Active Adult Buyers
 
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n NAHB Challenges HUD Report on Accessibility Safe Harbor
 
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n CAPS, CGR Courses Offered at Remodeling Show
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n OSHA Web Site Helps English-Speaking Builders Communicate With Hispanic Workers About Safety
 
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n Effective Risk Management Can Help Builders Weather the General Liability Insurance Crisis
 
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n Florida Builders Continue to Leads Hurricane Recovery Efforts
 
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n Properties May Become Underinsured as Costs Of Building Materials Rise
 
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n Top Ten Reasons to Attend the State & Local Government Affairs Conference
 
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n HBI Youth Training Programs Receive Congressional Recognition During Appropriations Process
n Skilled Building Trades Hit Home Runs at Busch and PNC Stadiums
 
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n Women’s Councils Involved in Community Outreach Programs
n Log Home Manufacturer Recognized for Commitment to Native American Education
 
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n Windows Withstand Penetration by Airborne Debris
 
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n Counting Beans Can Drive You Nuts
 
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n Virtual Trade Show Provides Sneak Peak of Upcoming Builders’ Show
n September Is Associate Member Appreciation Month
n Build Your Knowledge at the Custom Builder Symposium
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With 9.4% Increase in August, New Home Sales Barreling Towards Another Record Year

Continuing at a fast clip, sales of new single-family homes increased 9.4% in August to a seasonally adjusted annual rate of 1.184 million units, the U.S. Commerce Department reported.

“Single-family home sales continue to remain strong well into the third quarter of the year,” said NAHB President Bobby Rayburn. “Builders across the country remain upbeat about the housing market.”

“The fundamentals supporting the new-home market still are quite strong,” said NAHB Chief Economist David Seiders. “Long-term mortgage rates are running below 6%, one-year adjustable-rate loans are around 4% and both job and income growth have strengthened. Under these conditions, new-home sales are definitely heading toward another record in 2004.”

The pace of new home sales in August was running a slight 0.4% below the level of a year earlier, but so far this year sales are up 10.8%.

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The inventory of unsold new homes increased slightly to 404,000 units in August, but the month’s supply was 4.2, down slightly from the month before.

Existing Sales Down 2.7% in August

Sales of existing single-family homes slipped 2.7% in August to 6.54 million, the National Association of Realtors® reported, but they were at the sixth highest level ever.

The association’s chief economist, David Lereah, said that he expected to see further declines later this year and that total resales in 2004 should be roughly the level reached last month.

Register Today for NAHB's Fall Construction Forecast Conference

Get the latest forecasts on housing starts, project budgets and other economic bellwethers of the housing industry at NAHB's Fall Construction Forecast Conference at the National Housing Center in Washington, D.C. on Oct. 27. Click here for more information and to register.

Coming Oct. 1: HousingEconomics Online

HousingEconomics Online is the new online publication from the leading economists at NAHB.

Available Oct. 1 at BuilderBooks.com, HousingEconomics Online combines unique scientific research with practical applications providing insights that are original, useful and written in terms that builders, manufacturers and housing finance professionals can understand and apply to their own businesses.

This interactive Web site at the executive level provides critical data and information quickly, easily and frequently and includes the following features:

  • Home Builders Forecast
  • The Desktop Analyst
  • Dave Seiders’ Report
  • Housing Activity
  • Housing Policy Focus
  • Multifamily Housing Quarterly
  • Housing Market Statistics

For more details, go to HousingEconomics Online at BuilderBooks.com.

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