Currently Reading

NAHB Urges Biden to Reduce Home Building Costs

Government + Policy

NAHB Urges Biden to Reduce Home Building Costs

The NAHB is seeking support from President Biden amid grueling price volatility and supply chain disruptions delaying new home construction

May 5, 2022
White House in Washington DC

In a letter directed to the White House on Wednesday, the National Association of Home Builders appealed to President Biden for assistance with supply chain disruptions, which are sending the cost of building materials to a record high. As the Federal Reserve pushes interest rates above 5%, housing is becoming increasingly unaffordable across the U.S., and price volatility for building materials isn’t helping.

Frequent changes in lumber prices have raised the cost of a typical single-family home by over $18,600 just since last August, and Canadian tariffs are creating another roadblock for lumber imports, the Pittsburgh Post-Gazette reports. 

The National Association of Home Builders also asked the administration to reduce “burdensome regulations” that it says account for nearly 25% of the price of building a single-family home.

NAHB member firms are slated to construct about 80% of the new housing units projected for this year. The group’s gauge of homebuilder sentiment fell to a seven-month low in April as rising mortgage rates and high asking prices led to declines in sales and prospective buyer traffic.

Read more

Related Stories

Market Data + Trends

As the Fed Drives Borrowing Costs Up, Housing Affordability Continues to Plummet

The most recent interest rate hike will price out a large share of prospective homebuyers, but will it be enough to reduce housing costs in overheated markets?

Housing Policy + Finance

NAHB 2022 Legislative Conference Puts Pressure on Congress to Act on Housing Affordability

Over 600 home builders attended the NAHB 2022 Legislative Conference to advocate for effective affordable housing policies

Housing Policy + Finance

Biden’s Housing Supply Action Plan Is Hopeful, But Its Future Depends on Congress

Biden's recently announced housing proposal offers a solution to fast-track new housing supply, but it first needs Congressional approval


More in Category


Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.

Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.