The numbers: A persistent lack of listing for the sale of existing homes has pushed more home buyers to consider newly built homes, prompting home builders to ramp up construction of new U.S. homes in July. […]
The numbers: Construction on new homes fell 8% in June, as U.S. homebuilders sharply slowed down starting on new single-family homes and focusing on finishing existing projects. Housing starts fell to a 1.43 million annual pace […]
Although the New Residential Construction report released by the Census Bureau has notoriously wide margins of error, it’s rare to see numbers like today’s rendered irrelevant by a revision. In fact, even in the case […]
Construction spending remained unremarkable in February, declining fractionally from January (-0.1 percent) while maintaining a 5.2 percent improvement year-over-year. Notably, however, residential construction is no longer driving the industry numbers. It isn’t even holding its […]
It didn’t approach the levels of the “good old days” of 2020 and 2021, but construction activity did show signs of life last month. The U.S. Census Bureau and the Department of Housing and Urban […]
Recent headlines point to a slumping US housing market — as mortgage rates average near 7%, an increasing number of potential homebuyers are finding it difficult to finance homes. Mortgage applications fell in late February to a […]
WASHINGTON, March 1(Reuters) – U.S. construction spending unexpectedly fell in January as investment in single-family homebuilding continued to decline. The Commerce Department said on Wednesday that construction spending dipped 0.1% in January after dropping 0.7% […]
A skyscraper under construction in San Francisco has not seen any progress for over a month due to permit issues and heavy rains, according to the San Francisco Business Times. This is the only building […]
It seems that most of the stories I write on home sales and construction numbers begin with a slightly different iteration of the same core thought: the housing market has undoubtedly taken a big hit […]
Michigan-based lender United Wholesale Mortgage (UWM) has introduced a construction-to-permanent loan that covers the cost of building a home and then converts to a permanent mortgage once construction is complete. Starting February 1, UWM’s one-time […]
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