Week of May 2, 2005
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Cement production has come a long way from this lime quarry for the Utah Portland Cement Company in 1903. (photo: U.S. Geological Survey library)

Materials Problems Persist in Robust Housing Market

The worst may be over, but at the peak of the busy spring season home builders continue to be hammered by high or rising construction materials prices and shortages, according to economic analysts at NAHB.

"While wood prices are easing, there is still upward pressure on a number of other materials," said NAHB economist Michael Carliner.

Persistently strong demand for new housing has exacerbated the problem, analysts say, but products such as metals and cement have come under the influence of international factors in the global marketplace. ...

Framing Lumber Composite $ 388 $ 14
OSB Composite $ 337 $ 34
Southern Pine Plywood Composite $ 476 $ 24
With permission from: www.randomlengths.com 
 

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Gov. John Hoeven before the North Dakota Legislative Assembly in December.

North Dakota Twenty-Fifth State to Enact NOR Law

When North Dakota’s Republican Governor John Hoeven signed House Bill 1437 on April 20, his state became the 25th in the nation to enact notice and opportunity to repair (NOR) legislation that makes it easier and less expensive for builders and home owners to resolve construction defect disputes.

The new law requires home owners to give the builder written notice of an alleged defect. The builder then has 30 days to inspect and, if appropriate, remedy the defect within a reasonable time. ...

Interest Rates  
  30-Yr. Fixed: 5.78% 15-Yr. Fixed: 5.33% 5 Yr. ARM: 5.20%
  1 Yr. ARM: 4.21% Libor (3 months): 3.21% Prime: 5.75%
Housing Starts*  (March 2005)
  Total: 1.837 million Single: 1.539 million Multi: 298,000
Home Sales*  (March 2005)
  New: 1.431 million Existing: 6.89 million  
Median Home Prices  (March 2005)
  New: $212,300 Existing: $195,000  
* Seasonally Adjusted Annual Rate

   
 
NAHB/BALA Design Institute for Builders
Concrete Home Building Council Plant Tour
Building for Boomers & Beyond: Seniors Housing Symposium 2005
 
   
 
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