While December’s data represented the 12th straight decrease in homebuilder sentiment, there is a “silver lining.” The average price reduction was 8 percent, up from 5 or 6 percent earlier this year, report says. Continue reading
Builders have seen cancellation rates spike this year as buyers now struggle to afford the homes they signed up for months ago, according to data from John Burns Real Estate Consulting. Continue reading
Sales of new homes have suffered, but plenty of projects remain active. Homebuilders have yet to make steep cuts to their payrolls, according to the U.S. Bureau of Labor Statistics on Friday. Continue reading
A home for sale today is nearly twice as likely to be newly built than in 2019 as a glut of unsold projects reaches the market, according to a new report from Redfin. Continue reading
Real estate employers added about as many jobs in September as would normally be expected this time of year, despite the market downturn. Continue reading
Lumber futures were trading at $454 per thousand board feet Monday after ascending to $539 per thousand board feet the week earlier, according to numbers tracked at Nasdaq.com. Continue reading
Hits to broker commissions and home construction drove a decline in real estate gross domestic product in the third quarter of the year, new data shows. Continue reading
Acquiring construction materials remains expensive for homebuilders, even as a reduction in demand may be relieving supply chains, according to data from the U.S. Bureau of Labor Statistics. Continue reading
Construction costs remain high. But one of the biggest headaches for builders — obtaining lumber at a steady price — may be normalizing. Continue reading
Real estate hiring bucked seasonal expectations for September, reflecting steady payrolls despite a weakening sales environment, according to new data from the U.S. Bureau of Labor Statistics. Continue reading