Tell a Friend About the NAHB Web Site
November is the time to make sure that the many people who are connected to your business are also connected to the news, trends and educational and networking resources that are just a click away on www.nahb.org.
In this month's "Tell a Friend Campaign," NAHB members who have a log-in for the NAHB Web site are receiving e-mails that they can forward to their colleagues explaining how and why to log in to www.nahb.org.
Help increase awareness and use of this valuable NAHB resource by forwarding the e-mail on.
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Building Material Shortages Persist, But Don’t Appear to Be Getting Any Worse
Although building materials remain in short supply, the devastating hurricane season that inflicted massive damage on Florida in late summer and early fall appears not to have made the situation any worse, according to a recent NAHB survey.
A nationwide survey conducted by the association last month found that builders continue to report shortages of cement, gypsum wall board, oriented strand board (OSB), steel framing and insulation materials, although conditions appear to have been stable since July.
Cement continued to top the list of concerns of survey respondents, …
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Housing Snapshot
Mortgage interest rates remained virtually unchanged last week, with long-term rates down just a tad and adjustable rate financing up slightly. Freddie Mac Chief Economist Frank Nothaft said that housing starts are currently exceeding expectations because long-term mortgage interest rates remain below the peak levels reached in May, and he sees no dramatic rise in those rates on the horizon as further job creation helps buoy housing demand. The Conference Board's Index of Leading Economic Indicators released last week was down for the fifth straight month in October, suggesting that growth may be losing some steam but is in no danger of ending. Inflation continued to drift higher in October, with a 0.6% increase in the consumer price index, led largely by energy and food prices. And Federal Reserve Chairman Alan Greenspan gave a slight chill to the financial markets through his remarks at a conference in Germany that he is increasingly concerned about the magnitude of the U.S. trade deficit. On the lumber front, prices headed up last week, although not decisively. Framing lumber prices climbed to $357 per 1,000 board feet, up from $348 the prior week, according to Random Lengths. That group's structural panel composite price, including oriented strand board, was also up, rising from $321 to $334 for 1,000 square feet, compared to $519 a year earlier.
| Mortgage Interest Rates |
| 30-Year Fixed-Rate |
5.74% |
| 15-Year Fixed-Rate |
5.15% |
| 1-Year ARM |
4.17% |
| Housing Starts - Oct. 2004* |
| Total |
2.027 million |
| Single-Family Starts |
1.645 million |
| Multifamily Starts |
382,000 |
New Home Sales
Sep. 2004* |
1.206 million |
Existing Home Sales
Sep. 2004* |
6.75 million |
| * Seasonally adjusted annual rate |
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