MEMBERSHIP RENEWAL MEMBERSHIP RENEWAL RAFFLE RAFFLE

from June 2023 Building Connections

New Video Series Aims to Demystify Remodeling Industry

Sponsored by the HBRA Membership Committee, the Membership Renewal Raffle acknowledges current members who renew their memberships on time. Each month one winner receives a free half page ad for them or their company in our e-magazine, Building Connections.

Low Existing Home Inventory Fueling Buyer Interest in New Homes

As the National Association of Home Builders (NAHB) celebrates National Homeownership Month in June, more Americans are turning to new home construction as existing inventory remains low and mortgage rates begin to stabilize. Sales of newly built, singlefamily homes increased in April, reaching the highest level since March 2022.

“Buyers are purchasing new homes so they can start investing in homeownership now instead of waiting for an existing home to come on the market,” said NAHB Chairman Alicia Huey, a custom home builder and developer from Birmingham, Ala. “Builders want to meet buyer demand; however, high construction costs and labor shortages remain persistent challenges for the residential construction industry.”

FHFA Seeks Input on Multifamily Tenant Protections

The Federal Housing Finance Agency (FHFA) has issued a Request for Input (RFI) on tenant protections at multifamily properties with mortgages backed by Fannie Mae and Freddie Mac. This action is part of the Biden Administration’s government tenant protection initiatives announced on Jan. 25, and was included in the Administration’s white paper, Blueprint for a Renters Bill of Rights.