April 18, 2011
Nation's Building News

The Official Online Newspaper of NAHB

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NAHB Members Push for Support for AD&C Bill During Congressional Recess
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While members of Congress are home for a two-week congressional spring recess, NAHB’s more than 160,000 members are being urged to contact their representatives to help drum up support for soon-to-be introduced legislation designed to open up the lines of credit for new housing production.

Association members should ask their representatives to become original cosponsors of NAHB-supported legislation that is expected to be introduced in the House of Representatives in the near future by Reps. Gary Miller (R-Calif.) and Brad Miller (D-N.C) to address an acute shortage of acquisition, development and construction (AD&C) credit.

A special BuilderLink email alert with information about the pending legislation was sent to all NAHB members.

“As we move into the spring home buying season, builders and developers across the country continue to suffer from a severe lack of credit for viable home building projects, which has major implications for the economy as a whole,” said NAHB Chairman Bob Nielsen. ... Read More

Lumber Prices Provided by Random Lengths
Framing Lumber Composite $ 274 $ 7
OSB Composite $ 197 $ 13
Southern Pine Plywood Composite $ 442 $ 9
With permission from: www.randomlengths.com      
Layouts For Living
Floor Plans: Urban Aesthetics Blend With Rural Simplicity in Napa Valley Wine Country
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Views, art and wine inspired the creation of this home in Napa Valley, Calif.

Art, wine, gorgeous vineyard views and the forms and colors of nearby rural buildings were the inspiration behind the design of this 5,895-square-foot private residence, gallery and studio in Napa Valley, Calif.

Winner of the 2010 BALA Best in Pacific Region and Platinum Award in the One-of-a-Kind Custom Home 4,001-6,500-square-foot category, the home’s collection of shed and gable structures — with finishes selected to complement the owner’s urban aesthetic — were designed and created to blend simplicity and sophistication and to connect to the land. ...... Read More

Builders See Repeal of Onerous Form 1099 Reporting Requirements

President Obama on April 14 signed legislation supported by NAHB to repeal a burdensome tax paperwork requirement that could have cost small businesses thousands of dollars each year.

"During the past several months, NAHB led the effort along with other industry groups to strike all new expanded IRS Form 1099 reporting requirements for small businesses and owners of rental real estate," said NAHB Chairman Bob Nielsen.

"In testimony before Congress and in 'key vote' letters to House and Senate leaders, we spelled out how failing to overturn these rules would have killed jobs and placed a major paperwork and cost burden on home builders,” Nielsen said. ...... Read More

Sunnier Days May Lie Ahead in Spring Construction Forecast
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Major housing markets such as Northern Virginia, Indianapolis, Minneapolis, San Diego and San Francisco are poised to see their home prices begin rising three to four points faster than the rate of inflation, a trend that will last for the next few years, according to Mark Zandi, chief economist with Moody’s Analytics.

Among panelists participating in the upcoming NAHB Spring Construction Forecast Webinar, Zandi recently told Fortune magazine that he expects to see single-family housing starts climb to a seasonally adjusted annual rate of 700,000 this year — which will almost feel like a gallop compared to the total 470,000 single-family homes started in 2010. ...... Read More

Housing Snapshot
Interest Rates  
30-Yr. Fixed: 4.91% 15-Yr. Fixed: 4.13% 5 Yr. ARM: 3.78%
1 Yr. ARM: 3.25% LIBOR (3 months): 0.27% Prime: 3.25%
Housing Starts*  (February 2011)
Total: 479,000 Single: 375,000 Multi: 104,000
Home Sales*  (February 2011)
New: 250,000 Existing: 4.88 million  
Median Home Prices  (February 2011)
New: $156,100 Existing: $202,100  
* Seasonally Adjusted Annual Rate

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