Jan 23 2023
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Fewer Adults are Planning a Home Purchase

By Housing
The share of adults planning a home purchase in the next 12 months dropped to 13% in the final quarter of 2022, down from 15% in the previous quarter.  The drop is not surprising, given that housing affordability worsened during this period, as mortgage interest rates surpassed 7.0% and reached levels not seen in nearly 20 years. In the third… Read More ›
Jan 20 2023
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Existing Home Sales End 2022 with Weakest Year Since 2014

By Housing
As elevated mortgage rates and tight inventory continue to weaken housing demand, the volume of existing home sales declined for an eleventh consecutive month as of December, according to the National Association of Realtors (NAR). This is the longest run of declines since 1999. While mortgage rates have retreated in recent weeks due to recession concerns, they are likely to… Read More ›
Jan 19 2023
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2022 Ends With A Decline in Single-Family Starts For the First Time Since 2011

By Housing
Led by a decline in multifamily production, overall housing starts decreased 1.4% to a seasonally adjusted annual rate of 1.38 million units in December, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Also of note, single-family housing starts ended the year down more than 10%, marking the first annual decline since… Read More ›
Jan 19 2023
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Remodeling Market Sentiment Weakened in Fourth Quarter but Remains Positive

By Housing
The NAHB/Westlake Royal Remodeling Market Index (RMI) for the fourth quarter of 2022 posted a reading of 66, falling 17 points from the fourth quarter of 2021. While there is a sharp decline in RMI year-over-year, it remains in positive territory as remodeling continues to outperform the rest of the residential construction sector, whether one looks at construction spending or… Read More ›
Jan 18 2023
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EBR UDC Chapter 15 Proposed Recommendations Approved

By Advocacy, Building Codes, Housing, Industry News

The EBR UDC Chapter 15 proposed recommendations have been approved by the EBR Metro Council.

Click here to view the UDC Chapter 15 with tracked changes

HBA|GBR has worked with several partnering organizations over the years, including Baton Rouge City-Parish, on the final EBR Chapter 15 proposed recommendations.

The HBA has facilitated numerous discussions since the 2016 Flood and hosted industry panel events to inform and gather feedback from our HBA community on science based, data driven recommendations that address flooding.

The HBA was dedicated to convening our diverse network of industry expert members to offer solutions that would address and support our land use policy initiatives to help provide safe and affordable housing for all.

We encouraged and supported policy makers and regulators to recognize that certainty, stability, and predictability in the development approval process benefits both the public and private sectors.

Get involved with the HBA’s direct impact on Greater Baton Rouge and your industry by signing up for a committee today at hbagbr.org/committees.


 

Jan 18 2023
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Building Materials Price Growth Slows 60% in 2022

By Housing
The producer price index (PPI) for inputs to residential construction less energy (i.e. building materials) rose 8.3% in 2022 (not seasonally adjusted) according to the latest PPI report—less than one-half the increase seen in 2021. On a monthly basis, building materials prices declined 0.3% in December—the fourth consecutive monthly decrease. After increasing an average of 1.8% per month the first five… Read More ›