Toll Brothers reported that revenues and home building deliveries of $319.7 million and 591 units rose 3% in dollars and 9% in units in this second-quarter compared to FY 2010′s second-quarter results.
Dominion Homes Inc. is creating a new residential community in the Louisville, Ky., market by splitting bank-owned lots with another builder, according to bizjournals.com.
Sales of newly constructed homes were up in April, beating most economists' expectations
KB Home has revealed its ultra-green luxury condo complex in west Los Angeles. The 52-unit Primera Terra development is the production builder’s first LEED Platinum-certified project and features a number of high-performance amenities, including tankless water heaters, energy-efficient windows, and an energy monitoring system.
Many American buyers are interested in buying a foreclosure, but there are too many distressed properties for buyers to absorb them all – and the numbers of properties in stages of foreclosure affect the overall market, according to Forbes.com.
Next week, two speakers on behalf of the National Association of Home Builders (NAHB) will provide the forecast for the remodeling market and its rising trends.
Job creation is gradually gathering force, but the construction sector, including home building, continues to drag, according to March data from the Bureau of Labor Statistics Job Openings and Labor Turnover Survey. Residential construction is off about 1.4 million jobs since the peak of employment.
Existing-home sales slipped in April, although the market has managed six gains in the past nine months, according to the National Association of Realtors. Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums, and co-ops, eased 0.8 percent to a seasonally adjusted annual rate of 5.05 million in April from a downwardly revised 5.09 million in March.
Residential building in April registered a moderate gain, assisted by upward movement for multifamily housing.
Of the current 15.2 million rental units in the U.S., only about 6.5 million units are considered affordable housing to those earning less than half of their area's medium income, well short of market demand, according to according to a Fannie Mae report.