No Quick Fixes for Builders as Trump Administration Takes Shape NAHB is hard at work to assure that our members’ priorities are addressed when the new Trump administration takes over on Jan. 20. However, even when those priorities are in alignment with Trump’s campaign platform, none of these changes can take place overnight. Some, tied up in litigation or involving multiple agencies and branches of government, may take years. Regardless, NAHB government affairs, regulatory and legal staff is already preparing. Leaders have had extensive discussions and sent background information to the Trump team about a number of significant issues, including President Obama’s executive order that drastically changes development rules in and around floodplains. Though NAHB cannot be certain as to what will change, or how quickly changes will occur, the association sees the new administration and Republican-controlled Congress as a tremendous opportunity. NAHB’s advocacy team is well-prepared to respond to the new political environment. Read NAHB’s analysis for a closer look at the 2016 election results. Housing Market Snapshot Housing Starts New: 563,000↓ (October 2016) Total: 1.32 million↑ Single: 869,000↑ Multi: 454,000↑ Home Sales* (October 2016) Existing: 5.60 million↑ Median Home Prices (September 2016) New: $304,500↑ Existing SF: $233,700↑ *Seasonally Adjusted Annual Rate; Arrows indicate direction from previous month for starts and sales and year for prices. The index, which measures builder confidence in the market for newly built single-family homes, held steady at 63 in November, the same level as the October reading of 63. Any number over 50 indicates that more builders view sales conditions as good than poor. NAHB Chief Economist Robert Dietz’s analysis: “A solid job market, a growing economy and attractive mortgage rates are supporting demand in the single-family housing sector and will keep the housing recovery on a gradual, upward trajectory as we head into next year. However, builders in many markets continue to face supply-side constraints, particularly as they relate to the high-cost and lack of availability of lots and labor.” 11 NAHB/Wells Fargo Housing Market Index –
12 Publizr Home