Denver-based MDC Holdings has acquired the assets of SDC Homes, LLC, the third largest home builder in Seattle, for an undisclosed purchase price paid in cash and restricted stock. The acquisition marks MDC’s entry into the Seattle market.
In another sign of recovery for the remodeling market, the NAHB's Remodeling Market Index is at its highest level since before the recession. The index stands at 46.5, up from 41.5 in the fourth quarter of 2010 and the highest mark since the fourth quarter of 2006.
Baby Boomers, Gen X, and Gen Y are influencing the way society lives and works like never before, and the impact to the home is no exception. Masco Cabinetry, home of the KraftMaid, Merillat, QualityCabinets and DeNova brands, recently completed the GenShift 2011: Lifestages Redefining the Kitchen study to help architects and designers better understand how the collision of social, economic, and generational influences impact kitchen design.
David Weekley Homes, the nation’s second largest privately held home builder, has formed a partnership with Carmel, Ind.-based builder Estridge Group to expand into the Central Indiana market. Last month, Estridge discontinued its sales operations due to difficulty obtaining construction financing. The new entity will start building homes in June.
Sales of new single-family houses in March 2011 were at a seasonally adjusted annual rate of 300,000, 11.1 percent above the revised February rate of 270,000, according to estimates released jointly this morning by the U.S. Census Bureau and the Department of Housing and Urban Development.
While the remodeling market will continue to grow this year, the weakness in home sales will slow the remodeling recovery
The upward trend in existing home sales continued in March as sales rose 3.7 percent to a seasonally-adjusted annual rate of 5.1 million, according to the National Association of Realtors. Existing home sales have now risen in six of the past eight months.
After a steep drop in February, housing starts bounced back in March to a seasonally adjusted annual rate of 549,000 units — a rise of 7.2 percent over February numbers, according to data from the U.S. Commerce Dept. Building permits were up even higher: 11.2 percent above February to 594,000 annual units.
After experiencing a slight gain in March, the NAHB/Wells Fargo Housing Market Index (HMI) dropped one point in April to 16 — a mark the HMI has held for five of the last six months, according to the NAHB.
National index shows homeowners continue to spend on remodeling