The Mortgage Bankers Association (MBA) advocates for lowering mortgage insurance premiums, while the National Association of Home Builders (NAHB) seeks reduced permitting requirements to address elevated housing costs. NAHB data highlights that regulatory costs comprise 24% of a new home’s final sale price. Increased permit fees and various upfront costs account for over 7.6% of construction expenses. The soaring average price of new homes ($665,298) reflects these trends. NAHB emphasizes the need for federal reforms to simplify local and state regulations, which deter builders and worsen the housing inventory crisis.
The NAHB argues that reducing regulatory costs which account for 24% of a new home's final sale price is crucial to tackle rising housing costs.
According to NAHB, while building permit fees are a small portion of total construction costs, excessive zoning regulations significantly hinder housing supply.
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