HBA Clay Shooting Events Help Support BUILD-PAC
Just weeks before the 2024 election, home builders associations across the country are continuing to raise funds for BUILD-PAC, NAHB’s political arm.
The PAC, which supports the election of pro-housing and pro-building candidates for federal office, is on pace to reach its financial goals, securing more than $2.96 million so far in this election cycle.
In Massachusetts, BUILD-PAC Trustee Rob Brennan and Home Builders and Remodelers Association of Massachusetts Executive Officer Joe Landers hosted the third annual “Take Aim for BUILD-PAC” clay shooting event in September.
Nearly 100 people participated in not only clay shooting, but also cornhole tosses, raffles and even a silent auction. Volunteers from the student chapter program at Wentworth Institute of Technology also helped to run a successful program.
“The reception among our members has been fantastic,” said Brennan. “It’s something out of the ordinary as opposed to traditional fundraisers.”
The event raised more than $21,000.
“BUILD-PAC gives a voice for our local members to be heard in Washington,” said Brennan. “Through BUILD-PAC, we’re able to support congresspeople and candidates who will help advance the interest of our members as it pertains to housing policy, job training and the economic policies that will have an impact on home building.”
In August, Brian McKee, president of McKee Associates Inc. and Midwest Homes Inc., held Wisconsin’s first-ever clay shoot for BUILD-PAC.
More than 30 people participated in the event, which helped raise more than $22,000. The day was so successful that McKee has plans to host two more clay shoot events in 2025.
“It’s important to support candidates who support the housing industry,” said McKee.
Latest from NAHBNow
The U.S. Department of the Treasury and the Internal Revenue Service have announced new Opportunity Zone designations for more than 6,500 communities nationwide, effective Jan. 1, 2027.
Member-to-member recruitment is essential for growing NAHB’s membership. Here are the perks members are being rewarded with for their efforts.
Latest Economic News
The U.S. labor market rebounded in October, with nonfarm payroll employment increasing by 165,000 jobs and the unemployment rate declining to 4.1%. However, the improvement in overall employment contrasts with continued weakness in residential construction, where employment fell by 16,400 jobs, the largest monthly decline since March 2021.
New multifamily housing confidence weakened year-over-year in the third quarter, according to the Multifamily Market Survey (MMS) by the National Association of Home Builders (NAHB). The MMS produces two separate indices. The Multifamily Production Index (MPI) had a reading of 41, down five points year-over-year, while the Multifamily Occupancy Index (MOI) had a reading of 69, also down five points year-over-year.
Mortgage application activity declined in October as the 30-year fixed mortgage rate rose sharply again. The Mortgage Bankers Association’s (MBA) Market Composite Index, a measure of total mortgage application volume, fell 14.1% month-over-month in October on a seasonally adjusted basis. Compared to a year ago, total mortgage applications were 39.8% lower.