Construction spending rose in April, and residential improvements for 2011 and 2012 are predicted to rise 0.7 percent in 2011 and 14.5 percent in 2012.
The housing market appears to be evening out as U.S. quarter-over-quarter prices through the end of May declined only 2.3 percent.
The multifamily housing market is expected to skyrocket over the next few years as the job market grows and rental-friendly segments of the population look toward apartments, but rents shouldn’t rise as much as Wall Street is predicting.
Residential construction in 2011 is likely to be positive for the first year since 2005.
A survey conducted on behalf of the National Association of Home Builders (NAHB) indicates that most Americans still think it's important to own their own home.
After three consecutive years of record-low construction levels, the vigor of the recovery in housing now hinges on a return of demand, according to the State of the Nation’s Housing report released this morning by the Harvard University Joint Center for Housing Studies. The key obstacles to a return in demand, say Harvard researchers, are the lingering consequences of the recession and financial crisis.
With more than 1,900 closings in California in 2010, KB Home tops Professional Builder's ranking of the top 30 home builders in the Golden State. The builder, which ranked No. 5 on PB's national Housing Giants list, had 1,910 closings in California to top the list. Lennar had 1,753 closings in 2010 to take the No. 2 spot on the list.
In the aftermath of the nation's housing-market collapse and recession, more than 500 midsize and large cities have seen a rise in the share of homes that are rented rather than owned, according to Census data.
Home prices nationally declined by 4.2 percent in the first quarter of 2011 after having fallen 3.6 percent in the fourth quarter of 2010 and have now regressed to their mid-2002 levels, according to the S&P/Case-Shiller Home Price Index released this morning. As of March 2011, 19 of the 20 metro areas covered by the index were down compared to March 2010 (Washington, D.C., was the lone bright spot), and 12 metro areas posted new index lows in March.
A new class of renters is expected to bring a bright spot to the troubled U.S. real estate market. Prices for rental apartments are expected to rise nationally by approximately 4.5 percent in 2011 and up to another 3 percent in 2012, according to Fortune.com. Paying more to the landlord might be bad news for renters, but it could indicate that better days are ahead for the overall housing market.