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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  August 17, 2009  |   NAHB Temporarily Shuts Office to Cut Costs
The National Association of Home Builders, which has seen its member companies fall to about 190,000--from a peak of 256,000--plans to lower its operating costs by closing its Washington, D.C.-based offices for the business week beginning Aug. 24 and for the entire week of Thanksgiving.

As a result, its 341 staff members will forego pay for a total of eight days.

CEO Jerry Howard says the trade group feared the membership would drop further.

"We are starting to see a bottom in the housing market … [but] we're not in a recovery mode yet," he says.

Source: The Wall Street Journal, James R. Hagerty (08/11/2009)

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