In an interview on Bloomberg Television last week, billionaire Warren Buffett said the country's unemployment rate will improve substantially once the home-building sector rebounds. Buffett said that people will be surprised how quickly employment improves once the excess houses are bought and normal levels of construction resume.
Pulte Homes and McBride & Son are bulking up on new developments in the St. Louis area as the economy slowly recovers, according to the St. Louis Daily. Both companies are buying lots that banks had taken back from smaller builders who were overwhelmed by the two-year recession.
When the housing market collapsed, buyers became more interested in smaller, energy-efficient homes and smaller lot sizes, but bigger houses might be coming back.
Lennar is tearing down eight partially built California homes to replace them with 70 single-story homes.
Prices for U.S. homes may climb as early as the third quarter as waning foreclosures make more existing homes available for sale, said Housing and Urban Development (HUD) Secretary Shaun Donovan in a recent CNN interview.
LPS Applied Analytics released its May Mortgage Performance data. According to LPS, 7.96 percent of mortgages were delinquent in May, down slightly from 7.97 percent in April, and down from 9.74 percent in May 2010, as reported on Calculated Risk.
Zillow has teamed up with home builders like Beazer and Pulte to revolutionize the new construction home search, according to Zillow.com. Previously on the website, a single home icon on the maps indicated a planned community, which could represent hundreds of homes and floor plans. The maps now show the entire outline of planned communities.
Raleigh, N.C., Provo, Utah, and Grand Junction, Colo., are among 10 metro areas expected to see the biggest jump in population between 2010 and 2020, according to projections from data analysis firm Proximity One.
NAHB is suing the EPA over the agency's strategy to clean up the Chesapeake Bay, alleging that the strategy will make it harder for builders to obtain permits for residential and light commercial development in that area.
Home prices in the U.S. increased by 0.8 percent in May 2011 compared with April 2011, according to CoreLogic. This is the second consecutive month-over-month increase.