construction - Articles

Housing Starts Rise Less Than Forecast, Permits Fall

Patrick T. Fallon/Bloomberg via Getty Images By Lucia Mutikani WASHINGTON -- - U.S. housing starts rose but below market expectations and building permits fell in March, pointing to underlying weakness in the housing market that could persist despite improving weather. The Commerce Department said Wednesday... Continue Reading »

Housing Starts Fall, But Permits Rebound

Patrick T. Fallon/Bloomberg via Getty Images By Lucia Mutikani WASHINGTON -- U.S. housing starts fell for a third straight month in February, but a rebound in building permits offered some hope for the housing market as it struggles to emerge from a soft patch. The Commerce Department said Tuesday groundbreaking... Continue Reading »

New Home Sales Surge Nearly 10% in January

Justin Sullivan/Getty Images By Lucia Mutikani WASHINGTON -- Sales of new U.S. single-family homes surged to a 5½ year high in January, which could ease concerns of a sharp slowdown in the housing market. The Commerce Department said Wednesday that sales jumped 9.6 percent to a seasonally adjusted annual rate of... Continue Reading »

Housing Starts Fall in December, but Less Than Expected

Nam Y. Huh/AP By Lucia Mutikani WASHINGTON -- U.S. housing starts fell less than expected in December, pausing after recent strong gains that had propelled home building activity to multi-year highs. The Commerce Department said Friday groundbreaking dropped 9.8 percent to a seasonally adjusted annual rate of... Continue Reading »

U.S. Homebuilder Confidence Slips in January

Gregory Bull/AP By Richard Leong NEW YORK -- U.S. homebuilder confidence faded a bit at the start of 2014, although most developers expected the housing recovery to continue, data from the National Association of Home Builders released Thursday showed. The NAHB/Wells Fargo Housing Market Index slipped to 56 points in... Continue Reading »

Average U.S. Rate on 30-Year Loan Rises to 4.53%

David Ryder/Bloomberg via Getty Images WASHINGTON -- Average U.S. rates for fixed mortgages edged higher this week for the third straight week but remained low by historical standards. Mortgage buyer Freddie Mac said Thursday that the average for the 30-year loan rose to 4.53 percent from 4.48 percent last week. The... Continue Reading »

New Home Sales Slip from 5-Year Peak as Prices Rise

George Frey/Getty Images By Lucia Mutikani WASHINGTON -- Sales of new U.S. single-family homes fell modestly in November from a five-year high and prices pushed higher, indicating the housing market is weathering higher mortgage rates. The Commerce Department said Tuesday sales fell 2.1 percent to a seasonally adjusted... Continue Reading »

U.S. Homebuilder Confidence Surges in December

Mike Groll/AP By ALEX VEIGA U.S. homebuilders' confidence bounced back strongly this month, a sign that construction and industry hiring may pick up in coming months. The National Association of Home Builders/Wells Fargo builder sentiment index released Tuesday climbed to 58. That was up from 54 in November and matched... Continue Reading »

Housing Permits Breach 1 Million Mark, Highest in 5½ Years

Paul Sakuma/AP By Lucia Mutikani WASHINGTON -- Permits for future U.S. home construction rose to their highest level in nearly 5½ years in October, suggesting the housing market recovery remained intact despite recent signs of slowing down. The Commerce Department said Tuesday building permits jumped 6.2 percent... Continue Reading »

Homebuilder Sentiment Stabilizes in November

Patrick Fallon/Bloomberg via Getty Images By Richard Leong NEW YORK -- U.S. homebuilder confidence stabilized in November after falling for two straight months, though steady home demand was tempered by worries about further fiscal battles in Washington, the National Association of Home Builders said Monday. The... Continue Reading »

U.S. Builder Confidence Slips Amid Budget Battle

Gregory Bull/AP By ALEX VEIGA U.S. homebuilders were less confident in the housing market in October, reflecting their uncertainty over the budget impasse in Washington. The National Association of Home Builders/Wells Fargo builder sentiment index slipped two points to 55. The September reading was revised down from an... Continue Reading »

New Home Sales Rise but Hold Near Lowest Levels of 2013

Daniel Acker/Bloomberg via Getty Images By Jason Lange WASHINGTON -- Sales of new single-family homes in America rose in August but held near their lowest levels this year, a sign that a sharp rise in interest rates is weighing on the U.S. economy. Sales rose 7.9 percent to an annual rate of 421,000 units, the Commerce... Continue Reading »

Housing Starts, Permits Restrained by Slack Demand for Multifamily Homes

Daniel Acker/Bloomberg via Getty Images U.S. housing starts rose less than expected in August as multifamily activity slowed sharply, but a surge in permits to build single-family homes pointed to a sustained strengthening in the housing market recovery. The Commerce Department said Wednesday housing starts increased 0.9... Continue Reading »

Pending Home Sales Slip in July but Remain Solid

Gregory Bull/AP By CHRISTOPHER S. RUGABER WASHINGTON -- Fewer Americans signed contracts to buy U.S. homes in July, but the level stayed close to a 6½-year high. The modest decline suggests higher mortgage rates have yet to sharply slow sales. The National Association of Realtors said its seasonally adjusted index... Continue Reading »

Housing Starts Rise in July but Fall Short of Forecasts

Getty Images By Lucia Mutikani WASHINGTON -- U.S. housing starts and permits for future home construction rose less than expected in July, suggesting that higher mortgage rates could be slowing the housing market's momentum. The Commerce Department said Friday that housing starts increased 5.9 percent to a seasonally... Continue Reading »

Obama to Propose Shuttering Freddie Mac, Fannie Mae

John Raoux/AP By JULIE PACE WASHINGTON -- President Barack Obama is proposing to overhaul the nation's mortgage finance system, including shutting down government-backed Fannie Mae and Freddie Mac. And he has some bipartisan support on Capitol Hill. Obama was to outline his proposals Tuesday at a construction company in... Continue Reading »

Homebuilders' Confidence Strongest in More Than 7 Years

AP By Richard Leong NEW YORK -- U.S. homebuilder confidence rose in July to its strongest level in 7½ years as tightening supply and solid demand even in the face of rising mortgage rates fueled the sector's recovery, data from the National Association of Home Builders released Tuesday showed. The NAHB/Wells Fargo... Continue Reading »

September's Home Price Rise Shows Biggest Gain in 6 Years, CoreLogic Reports

By Christopher S. Rugaber WASHINGTON -- A measure of U.S. home prices jumped 5 percent in September compared with a year ago, the largest year-over-year increase since July 2006. The gain reported by CoreLogic offered more evidence of a sustainable housing recovery. The real estate data provider also said Tuesday that... Continue Reading »

Homeowners Joel and Melissa Dodge of Washington Feel Stranded by New Off-Ramp Next Door

Noise from the construction of an off-ramp next to their backyard in Vancouver, Wash., drove Joel and Melissa Dodge to move their family to a rental home for a time. But this turned out to be just the beginning of their problems. The Dodges' son, Dylan, who is 6 years old and autistic, started acting out when the... Continue Reading »

The World's Most Expensive Buildings

By Meredith Galante Real estate may be expensive, but sometimes the buildings constructed on top of that land are far pricier. Construction started last year on Yongsan Landmark Tower in downtown Seoul, South Korea, which is expected to cost a record-breaking $3.43 billion to build. But there are lots of other pricey... Continue Reading »

Hamptons Couple Tears Down House Mid-Construction

Say you're halfway through building a new home when you realize -- oops! -- there's not enough room for a pool in the backyard! What ever are you to do? If you're one couple in the Hamptons, you tear the sucker down and start again from scratch. Eric and Margaret Friedberg did just that when, in the middle of... Continue Reading »

U.S. Construction Spending Hit 2.5-Year High in May

WASHINGTON, July 2 (Reuters) - U.S. construction spending rose to its highest level in nearly two and a half years in May as investment in residential and federal government projects surged, a rare dose of good news for the flagging economic recovery. Construction spending increased 0.9 percent to an annual rate of $830... Continue Reading »

Most Building Permit Requests in Over 3 Years

By Martin Crutsinger WASHINGTON -- U.S. builders started work on more single-family homes in May and requested the most permits to build homes and apartments in 3½ years. The increase suggests that the housing market is slowly recovering even as other areas of the economy have weakened. The Commerce Department... Continue Reading »

Romney's 'Housing Plan' Already Making an Impact in La Jolla

What's it like to have a polarizing political figure as a neighbor? What's it like when that polarizing political figure is planning a massive construction project on your block? Some residents of San Diego's La Jolla community have firsthand experience -- they live next to presidential candidate Mitt Romney's vacation... Continue Reading »

U.S. Construction Spending Up 0.3 Percent in April

By Martin Crutsinger WASHINGTON -- U.S. builders increased their spending on construction projects for a second month in April. A pickup in home construction and commercial projects offset a fifth consecutive decline in government spending. Construction spending rose 0.3 percent in April, matching an upwardly revised... Continue Reading »

Homebuilders Lose Confidence After Homebuyer Tax Credit Expires

It was the tax credit, after all. Or so it seems. One of the timeliest leading indicators for real estate prices -- the homebuilder confidence survey published by the National Association of Home Builders/Wells Fargo -- dropped five points, or 22 percent, in June to a reading of 17. That's the lowest level since March,... Continue Reading »

Homebuyers Hit by Commercial Real Estate Slide

Maybe you've considered refinancing your mortgage with a loan from a smaller bank. Well the next time you go to visit, the sign on the bank window may say "closed." That's because many small and regional banks are under serious pressure from the growing troubles in commercial real estate. Three more banks failed this week... Continue Reading »

Are Bedrooms With No Windows a New Trend?

Forget the room with a view -- in fact, you can forget the room with a window. Don't be surprised to discover during your next apartment hunt a strange phenomenon -- a windowless bedroom. But is it really OK to live in a windowless bedroom or, more specifically, to allow windowless rooms to be called bedrooms? This... Continue Reading »

Apartment Guru: Living in an Unfinished Building

Dear Apartment Guru, I moved into a new building before some major parts of the shared areas were completed. Our elevators only work occasionally and electricity is turned off and on at random during the day. There is still no carpeting in the hallways and sometimes I find the front door has been propped open by... Continue Reading »

Housing Supply Sales Through the Roof: Sign of a Quick Recovery?

We're all in a quandary about where the real estate and housing markets are going. Is it up or down or sideways, double-dipping or stuck in neutral? A welter of statistics -- from the Case Shiller Home Price Index to anecdotal stories on the street -- suggest movement in any number of directions. Intrigued by a report... Continue Reading »

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