Posts with tag CommerceDepartment

Home builders are sitting on their hands, as are apartment and government project builders, with building activity at around half the $1.5 trillion that would constitute a robust construction environment. Construction spending declined for the third month in a row in February, falling 1.4 percent, according to the... Continue Reading »

After years of conspicuous consumption when it came to our homes and what we put in them, Americans are rethinking their priorities in the recession-induced Age of Austerity and paring down their possessions and what they spend. We won't be living in cold-water yurts, of course, but some recent numbers suggest that... Continue Reading »

New homes are selling again, and buyers are happy. But builders apparently are paying the price: The Commerce Department recently reported that the average new home price dropped to $242,900 in June. That's the lowest it's been since 2003, and the worst year-over-year drop since April 2009. Still, some analysts think the... Continue Reading »

Pessimism is back among usually optimistic homebuilders. The Commerce Department reported yesterday that construction of new homes and apartments declined 5 percent in June. The drop was a result of a 20 percent plunge in the condominium and apartment market. Single-family home construction fell 0.7 percent. Builders are... Continue Reading »