New single-family home sales posted a small decline in January as housing demand was affected by a jump in mortgage rates. The January pace of sales was nonetheless solid due to a lack of resale inventory and ongoing need for new construction. The U.S. Department of Housing and Urban Development and the U.S. Census Bureau estimated sales of newly built,… Read More ›
Redistricting & Regular Session
The Redistricting Special Session concluded on Friday, February 18. The new maps for the House, Senate, Congress, Public Service Commission and the Board of Elementary and Secondary Education maps head next to Governor Edwards ‘ desk. Legislators could have two more possible steps in the process, vetoes and lawsuits.
Lawmakers did not finalize the Supreme Court map, although it can be addressed in the regular session.
Legislation passed in 2021 by the Louisiana Legislature ended the weekly $300 supplemental federal government unemployment benefits weeks early. A state district judge recently dismissed the lawsuit that discontinued those federal benefits. In an earlier hearing, the same court also rejected a request to immediately reinstate the extra benefits.
The 2022 Regular Legislative Session convenes this year on Monday, March 14, 2022. The bulk of the legislation is filed within days of the start date. We will alert our members as bills impactful to our industry, make it through the process. This year’s session adjourns no later than 6:00 pm on Monday, June 6, 2022.
Information provided by Michelle Shirley, LHBA Lobbyist
According to NAHB analysis of quarterly Census data, the market share of rental units of multifamily construction starts increased to 94.2% during the fourth quarter of 2021. In contrast, the historical low share of 47% was set during the third quarter of 2005, during the condo building boom. An average share of 80% was registered during the 1980-2002 period. Condo… Read More ›
National home prices grew at an unsustainable pace in December, supported by strong demand and record-low inventory. Home price appreciation is expected to slow in the coming quarters as rising mortgage rates price some homebuyers out of the market. The S&P CoreLogic Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual… Read More ›
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building expanded by 10.8% in 2021 amid strong demand for move-up purchases given a rise in existing home equity. There were 49,000 total custom building starts during the final quarter of 2021. This marks a 11.4% gain from the fourth quarter of 2020…. Read More ›
