ARTICLE

Gov shutdown impacts residential sales report

No report issued for November new residential home sales.

BY Andy Carlo

If you were looking for the latest new residential home sales numbers, scheduled to be released on Dec. 27 by the U.S. Census Bureau and the Department of Housing and Urban Development, they’re not there.

In fact, no new report was issued regarding November’s single-family home sales results with October 2018 figures being the last published report.

The lack of new information is a direct result of the ongoing federal government shutdown. A notice, published on the census.gov reads, “Due to a lapse in federal funding this website is not being updated.” And no timetable is available as to when the results might be published.

Now in its 6th day, the partial shutdown impacts multiple federal departments including Housing and Urban Development, Agriculture, Commerce, Justice, Homeland Security, Interior, State, Transportation, and the Treasury.

On Dec. 26, FEMA notified insurers and insurance that they cannot sell or renew flood insurance policies backed by the National Flood Insurance Program because of a lack of government funding.

In a statement, the National Association of Home Builders (NAHB) said it is working with federal lawmakers to get more information and to attempt to resolve this issue.

The shutdown is a result of the dispute over border wall funding. President Trump did not agree to a continuing resolution passed by the Senate that would have averted a partial government shutdown and kept the full federal government running through Feb. 8, 2019.

Although House Republicans later passed a bill that included $5.7 billion funding for the wall, the bill failed in the Senate.

The result was about one-quarter of the government running out of funding and shutting down on Dec. 22.

 

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