NBN Online for the week of May 14, 2007

Mild Remodeling Slide Follows in Housing’s Footsteps

Following in the footsteps of the current downturn in housing production and sales, the residential remodeling market has entered into a decline that is expected to persist well into next year, according to participants in an NAHB news teleconference on May 8.

The slowdown is expected to be concentrated almost entirely in home owner improvements, and the extent of the decline in the industry won’t be as steep as the ongoing correction in home building, they said.

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Lumber Prices Provided by Random Lengths

Membership Day Webcast Prizes: NASCAR, Harley Davidson, More

Members tuning in to the 2007 National Membership Day  Webcast from the National Housing Center in Washington, D.C. on Tuesday, May 22 will have a chance to win two NASCAR tickets, a Harley Davidson leather jacket, NASCAR driver Carl Edwards racing caps and die cast miniatures of his car and more when they compete in the Biker Alley Trivia contest held throughout the afternoon.

The “Leaders of the Pack” membership day Webcast will be broadcast from 2:00 p.m. to 5:00 p.m. To register and view the Webcast, click here.

$2 Million Just Released: Apply Now for ‘Buy Now’ Ad Grants

On April 27 the NAHB Executive Board approved the release of the remaining $2 million of the NAHB “Buy Now” Advertising Assistance Program. Launched in February, the program provides $3 million to assist local associations in an effort to bolster home sales in markets hit hard by the current housing downturn. The initial $1 million was quickly disbursed in grants to 51 HBAs.

Following the release, NAHB immediately began processing 35 additional applications — worth more than $600,000 — that had been approved and were awaiting funds from the program’s second phase.

In total, 86 local associations in 29 states have now applied for and have received, or been approved to receive, nearly $1.7 million in advertising assistance. Including the matching funds that the HBAs contributed, the total value of their advertising campaigns is $5.3 million. To see a list of the HBAs and the grant levels, click here.

With $1.3 million in funds still available, NAHB encourages HBAs that have not yet applied for advertising assistance to apply today.