Builders broke ground on more new homes last month, giving the weak U.S. housing market a slight boost at the start of the spring buying season. Home construction rose 7.2 percent in March from February to a seasonally adjusted 549,000 units. Building permits, an indicator of future construction, rose 11.2 percent after hitting a five-decade […]
Tips For Buying a New-Construction Home
Homebuilders are eager to sell their homes this spring, and many are offering incentives and even some price reductions. So how do you find a good deal on a new home? While homeowners looking to sell their property might balk at an offer that is too low and pull their home off the market, homebuilders […]
Housing Starts Fell 22.5% in February
Housing starts fell 22.5% in February, well below most analysts’ estimates and to the lowest rate in almost two years, according to Commerce Department data. In a joint release, the Census Bureau and Department of Housing and Urban Development said starts fell to a seasonally adjusted rate of 479,000 units, down from a revised 618,000 […]
Housing starts to grow 21% in 2011
Housing will see gradual improvements this year, establishing momentum for stronger gains in 2012, said economists at the National Association of Home Builders International Builders’ Show recently. “This year’s spring selling season will be better than last year’s,” said NAHB Chief Economist David Crowe, with job growth providing a stronger stimulus in the housing market […]
Housing Starts Hit 18-Month Low
New home construction fell to an 18-month low in October, according to a recent government report. Housing starts, or the number of new homes being built, fell 11.7% to a seasonally adjusted annual rate of 519,000 in October, down from a revised 588,000 in September. The annual rate is the lowest since the 477,000 starts […]
Home Builder Confidence Up In October
According to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for October, builder confidence in the market for newly built, single-family homes rose three points to 16. This was the first improvement registered by the HMI in five months, and returns the index to a level last seen in June of this […]
First-Time Homebuyers Buying Smaller Homes
A new report from the National Association of Home Builders has found that first-time homebuyers are choosing to buy smaller and less expensive properties than existing buyers. The study by the NAHB found that first-time buyers purchased homes costing an average of $184,000 with approximately 1,874 square feet of space. By comparison, the homes purchased […]
Housing Construction Rises in July
A weak housing market received a tiny boost from apartment construction last month. But the overall outlook remained dim as applications for building permits fell to the lowest level in 14 months. Construction of new homes and apartments rose 1.7 percent last month, according to the Commerce Department. Driving the increase was a 32.6 percent […]