Tax Credit Spurs Jump in Existing-Home Sales
September existing-home sales jumped 9.4 percent to an annualized pace of 5.57 million, the highest total in two years. Jim Haughey, chief economist for Reed Construction Data, analyszes the report.
Housing Stall Continues, But Recovery to Resume
Jim Haughey, chief economist of Reed Construction Data, analyzes the U.S. Census Bureau's residential construction report for September 2009.
Home Prices Rise for 3rd Month
Jim Haughey of Reed Construction Data analyzes the data from the July Case-Shiller home price index and other measures and finds most markets have hit bottom, as prices continue to rise.
Congress Extends, Expands Home Buyer Tax Credit
Congress has passed legislation that contains a provision for extension and expansion of the home buyer tax credit. Also included is a measure that provides certain tax benefits for businesses.
Builders Applaud Congress on Extending Home Buyer Tax Credit
The new law will extend the $8,000 credit for first-time home buyers for sales contracts entered into by April 30, 2010 and closed by June 30. Further, it has been expanded to include a new $6,500 credit for owners of existing homes who are purchasing a new principal residence.
New Board Chariman Announced at Hovnanian Enterprises
Ara K. Hovnanian has been appointed as Chairman of the Board of Directors, in addition to his positions as President and Chief Executive Officer of the Company.
Annual Study Examines Construction Business Trends
This year’s study portrays a construction owner community that is responding to changing economic conditions by looking to service providers for more comprehensive support across the entire building lifecycle.
Lawsuit Claims Home Builder Propped Up Prices This class action recently filed in California alleges that the builder fraudulently propped up home prices and sales in a "house of cards" scheme that eventually caused values in its developments to plunge. Yikes.
