New Construction - Real Estate, Updates, News & Tips

US New Home Sales Soar to One-Year High in March

WASHINGTON, April 25 (Reuters) - Sales of new U.S. single-family homes jumped to a one-year high in March, likely as a retreat in mortgage rates boosted demand.New home sales surged 9.6% to a seasonally adjusted annual rate of 683,000 units last month, the highest level since March 2022, the Commerce Department said on Tuesday. February's sales pace was revised lower to 623,000 units from the previously reported 640,000.New home sales are counted

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Homebuilder Sentiment Rises in April, as Builders Grab Near-Record Share of the Market

Builder sentiment in the market for newly built homes rose in April for the fourth straight month, as the supply of existing homes for sale remains scarce.The National Association of Home Builders/Wells Fargo Housing Market Index climbed to 45 in April, a 1-point gain. Anything below 50 is considered negative.The reading is the highest since September. The index stood at 77 in April 2022.Builders in the report cited a lack of listings on the resa

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New-Home Construction Up Slightly in March

Builders pushed forward with more single-family projects for the second month in a row, but remained far less active than in 2022, according to data issued Tuesday by the US Census BureauHomebuilders continued a slow ramp-up in new single-family construction projects last month, but the number of new projects remained near the lowest levels since mid-2020.Privately owned single-family starts in March rose to a seasonally adjusted annual

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New-Home Sales Post Third-Straight Monthly Increase in February

Sales of newly built single-family homes rose 1.1% in February while the average sale price climbed to just under $500K, according to data released Thursday by the US Census Bureau Sales of newly constructed single-family homes remained mostly flat during February, marking only a modest increase ahead of the spring buying season, according to data released Thursday by the U.S. Census Bureau.Sales of newly built single-family homes rose 1.1 pe

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New-Home Transactions Roar to Life with Strongest Sales Pace in a Year

A dip in mortgage rates and a backlog of empty homes helped power sales of newly constructed houses for the second-straight month in January, according to data from the US Census Bureau Sales of newly constructed homes surged between December and January, notching the strongest sales pace since at least March 2022, new data shows.New-home sales clocked in at a seasonally adjusted rate of 670,000 units in January, 7.2 percent higher than

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What is New in Multifamily Building

On the multifamily front, high costs and a greater concern for the environment are spurring efforts to cut construction time and expense while increasing sustainability.In the multifamily space, the need for new building processes and materials and the possibility of paring construction and labor costs are generating a buzz. This is especially true as rising costs and inflation, labor shortages and an increased concern for the environment continu

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Homebuilders are Feeling a Lot More Optimistic as Market Begins to Thaw

Builder confidence rose 7 points in February, to 42, according to the latest NAHB Housing Market Index. It's the highest score since September and the largest 1-month increase in a decade The outlook for the housing market has improved for two-consecutive months, leaving builders cautiously optimistic as the spring homebuying season fast approaches, according to the latest Wells Fargo/National Association of Home Builders Housing Market Inde

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New Housing Data Suggests Market Slowdown is Ending

Pending home sales increased in December for the first time in six months, and new-home sales and mortgage applications are rising. New housing data released this week offers hope that the market slowdown may be short lived. Pending home sales rose 2.5% in December, ending a six-month slide, the National Association of REALTORS® reported Friday. New-home sales also rose 2.3% last month, according to the Commerce Department, and mortgage applicat

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Single-Family Housing Starts Leap 11% as Permits and Completions Fall

Overall housing starts clocked in at a seasonally adjusted annual rate of 1,382,000, 1.4% below levels recorded in November, according to new data released Thursday by the US Census Bureau Housing starts, permits and completions all posted declines in December with increased production of single-family homes the lone bright spot for the month, according to data released Thursday by the U.S. Census Bureau.Housing star

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Homebuilder Sentiment Rises in January for the First Time in a Year

Builder sentiment in the single-family housing market posted an unexpected gain in January, rising for the first time in 12 straight months. Economists had predicted a slight decline.Sentiment rose 4 points to 35 on the National Association of Home Builders/Wells Fargo Housing Market Index. Anything below 50 is still considered negative sentiment. The metric stood at 83 in January 2022.“It appears the low point for builder sentiment in this cyc

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