December 5, 2011
Nation's Building News

The Official Online Newspaper of NAHB

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The New American Home: Smaller Than Its Predecessors, Packing a Giant Punch
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The New American Home 2012. Photos by James F. Wilson

At 4,181 square feet, The New American Home 2012 (TNAH) is smaller than many of its show home predecessors, but by incorporating the latest in green building methods, effective home automation and graceful outdoor living, the home is no less ambitious.

“With The New American Home 2012, we have attempted to create what we think people are looking for today and what they will be looking for down the road,” said Brad Grosberg, with Phil Kean Designs, the company that designed and built the home.

In addition to being a bit smaller than previous show homes, it offers “a little bit higher detail, with lots of the creature comforts that let you enjoy your time in the house,” Grosberg said. ... Read More

Lumber Prices Provided by Random Lengths
Framing Lumber Composite $ 266 $ 3
OSB Composite $ 212 $ 4
Southern Pine Plywood Composite $ 447 $ 6
With permission from: www.randomlengths.com      
Restoring Higher FHA Loan Limits Provides a Much-Needed Boost to the Mortgage Market

In an important victory for NAHB, the housing industry and consumers, Congress last month approved a much-debated initiative to restore higher loan limits through 2013 for mortgages backed by the Federal Housing Administration (FHA).

“We commend congressional leaders in both parties and each chamber of Congress for taking this action to boost overall mortgage liquidity in the marketplace, create jobs, and provide home owners and home buyers with safe and affordable financing,” said NAHB Chairman Bob Nielsen.

“Restoring the higher FHA loan limits will help to stabilize home values, provide constancy while private investors re-enter the market and enable millions of creditworthy consumers to get home loans with the best mortgage rates and lowest fees and downpayment requirements,” he added. ...... Read More

Special Preview Issue of the 2012 NAHB International Builders' Show in Orlando
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Throughout this issue, Nation’s Building News previews many of the new products, technologies, classes and events that you can attend, see and sample at the 2012 NAHB International Builders’ Show in Orlando beginning on Feb. 8.

Plus, there are photos and floor plans of The New American Home for you to enjoy before your visit.

Save this issue for reference until you get to the show.  

Extensive reports from IBS will begin appearing following the show, starting with the Feb. 20 edition of NBN.

Builders Report Tight Lending Conditions Persist in the Third Quarter

The commercial banks on which home builders and developers largely rely to finance their projects continued in this year’s third quarter to hold tight reins on acquisition, development and construction loans (AD&C), according to the most recent quarterly survey by NAHB’s Economics and Housing Policy Group on the availability of credit to the housing industry.

More than half of the single-family builders and developers surveyed by NAHB indicated they had decided to put any new construction or land activity on hold until the financing climate improves.

Freeing up credit for housing remains a top priority for NAHB, which has been working to obtain a legislative solution on Capitol Hill. ...... Read More

Housing Snapshot
Interest Rates  
30-Yr. Fixed: 4.00% 15-Yr. Fixed: 3.30% 5 Yr. ARM: 2.90%
1 Yr. ARM: 2.78% LIBOR (3 months): 0.53% Prime: 3.25%
Housing Starts*  (October 2011)
Total: 628,000 Single: 430,000 Multi: 198,000
Home Sales*  (October 2011)
New: 307,000 Existing: 4.97 million  
Median Home Prices  (October 2011)
New: $212,300 Existing: $162,500  
* Seasonally Adjusted Annual Rate

Also in This Issue