Week of November 10, 2008
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Housing Posts Key Wins on Election Day

The historic elections on Nov. 4 produced a victory for Senator Barack Obama (D-Ill.) as the first African-American to win the presidency and increased majorities for House and Senate Democrats. Voters across the country also brought home significant election wins for housing.

More than 130 million people cast their ballots, the most ever for a presidential election. An estimated 64% of eligible voters went to the polls, making 2008 the highest percentage turnout in generations.

Congratulating President-elect Obama and all the lawmakers who were elected to the 111th Congress, NAHB Chairman Sandy Dunn said that “the nation’s home builders look forward to working in a bipartisan manner with the incoming Obama Administration and new Congress to help solve our nation’s economic crisis and get housing and the economy back on track.” ...

Framing Lumber Composite $ 221 $ 1
OSB Composite $ 193 $ 2
Southern Pine Plywood Composite $ 409 $ 9
With permission from: www.randomlengths.com 
 

Brochure Tells Hesitant Home Buyers ‘Opportunity Knocks’

At a time when consumers are doing their research before making decisions, NAHB has published a brochure for prospective home buyers explaining in depth why the current housing marketplace offers unprecedented opportunities.

Despite the current cyclical downturn in the housing market, most households who have not purchased a home expect to do so sometime in the future, and “Opportunity Knocks for Home Buyers” provides detailed information on why today’s inventory, pricing, interest rates and home features are especially favorable. ...

Read More in Nation’s Building News — Win a Full IBS Registration

Click on and read five or more stories in this issue of Nation’s Building News and you automatically will be entered in a contest to win a full registration to the 2009 International Builders’ Show in Las Vegas on Jan. 20-23.

Full registration — $425 for members and $575 for non-members — gives attendees access to four days of exhibits on one million net square feet of exhibit space, all the educational sessions at IBS and new, daily-featured speakers who will give you pointers on how to navigate the downturn.

Continue Reading the Industry News That Is Important to You

There are no forms or paperwork to fill out to enter this contest. Just read more about what’s important to you and your business in Nation’s Building News each week.

One avid reader will be selected randomly each week through the Dec. 22 issue. So read more in every issue until then to improve your chances of winning — and to put your business in a better position during the downturn. ...

Interest Rates  
  30-Yr. Fixed: 6.20% 15-Yr. Fixed: 5.88% 5 Yr. ARM: 6.19%
  1 Yr. ARM: 5.25% Libor (3 months): 2.24% Prime: 4.00%
Housing Starts*  (September 2008)
  Total: 817,000 Single: 544,000 Multi: 273,000
Home Sales*  (September 2008)
  New: 464,000 Existing: 5.18 million  
Median Home Prices  (September 2008)
  New: $218,400 Existing: $191,600  
* Seasonally Adjusted Annual Rate

   
 
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