We continue our series about how your HBA and its affiliate, NAHB, have logged significant victories advocating for members in the legal, legislative and regulatory arenas during 2012.
Our advocacy efforts have saved the typical home builder about $7,250 per housing start in 2012, including both single-family and multifamily.
Flood insurance win will preserve 10,100 new home sales in 2013. NAHB advocacy averted the loss of approximately 10,100 new home sales that would have been prevented by the expiration of the NFIP. The National Flood Insurance Program has endured many short term lapses in recent years, which caused costly delays for home builders and buyers and even resulted in canceled sales. Reauthorizing the program for five years will prevent such lapses and the resulting delays and sale cancellations.
NAHB also worked with lawmakers to successfully remove unfair requirements that would have caused countless owners of property behind dams or levees to purchase coverage regardless of flood risk.
NAHB’s efforts on the National Flood Insurance Program saved NAHB members $2.42 billion in gross revenue in 2013 by preserving the sales of approximately 10,100 newly constructed home sales that would not have occurred otherwise due to higher costs for home buyers in these areas ($60,000 on average).