Key facts
- New government regulations add $131,734 to the average new single-family home price.
- This cost increase represents a 26.4% rise in the average new single-family home price.
- The National Association of Home Builders reported these figures.
- The ROAD Act may offer relief in areas of federal control like environmental reviews.
- The ROAD Act may offer relief in manufactured housing standards.
- The ROAD Act's impact on local land-use politics is limited.
- The ROAD Act's impact on local building codes is limited.
New government regulations have driven up the average price of a new single-family home by $131,734, a substantial increase of 26.4%, as reported by the National Association of Home Builders (NAHB). This significant cost addition is attributed to various regulatory requirements impacting the construction process. The proposed ROAD Act is intended to offer some mitigation for these rising costs. Specifically, the act may provide relief in areas under federal jurisdiction, such as environmental reviews and the standards for manufactured housing. However, the NAHB notes that the ROAD Act's impact is limited when it comes to influencing local land-use politics and the adoption of local building codes, which are significant components of the overall regulatory landscape affecting home prices. The legislation seeks to address the cumulative effect of these regulations on housing affordability.