Posts with tag home construction

By Christopher S. Rugaber WASHINGTON -- U.S. builders started more houses and apartments in February and obtained permits for future construction at the fastest pace in 4½ years. The increases point to a housing recovery that is gaining strength. The Commerce Department said Tuesday that builders broke ground on... Continue Reading »

WASHINGTON -- Construction of single-family homes cooled off slightly in January after surging in the final month last year. But a rise in permits suggests that builders are growing more confident that more buyers are ready to come off the sidelines. The Commerce Department said Thursday that builders broke ground on a... Continue Reading »

WASHINGTON -- Fewer people bought new homes in December. The decline made 2011 the worst year for new homes sales on records dating back nearly half a century. The Commerce Department said Thursday that new-home sales fell 2.2 percent last month to a seasonally adjusted annual pace of 307,000. The pace is less than half... Continue Reading »

WASHINGTON -- Builders ended 2011 with a third straight year of dismal home construction and the worst on record for single-family home building. But improvement at the end of the year lifted hopes for a recovery. In December, builders broke ground on a seasonally adjusted annual rate of 657,000 homes, the Commerce... Continue Reading »

WASHINGTON -- U.S. homebuilders are growing a little less pessimistic about the depressed housing market after seeing more people say they might be open to buying a home this year. The National Association of Home Builders/Wells Fargo builder sentiment index rose four points to 25 in January. That's the highest level... Continue Reading »

LOS ANGELES -- Jodie Foster's estranged father faces more than 25 years behind bars after being convicted of bilking more than $100,000 from the poor and elderly in a home-building scheme. City News Service reports that Lucius Foster (pictured above) was convicted of 21 misdemeanor counts of grand theft after a jury... Continue Reading »

WASHINGTON -- U.S. builders spent slightly more in September on home construction, partially offsetting losses in public schools, roads and government offices. Construction spending rose 0.2 percent in September from August to a seasonally adjusted annual rate of $787.2 billion, the Commerce Department said Tuesday. It... Continue Reading »

WASHINGTON -- Sales of new homes rose in September after four straight monthly declines, largely because builders cut their prices in the face of depressed demand. Analysts say the modest increase on the back of reduced prices suggests the struggling housing market is years away from a turnaround. The Commerce Department... Continue Reading »

WASHINGTON -- Builders broke ground on fewer homes in August, a reminder that the housing market remains depressed. The Commerce Department said Tuesday that builders began work on a seasonally adjusted 571,000 homes last month, a 5 percent decline from July. That's less than half the 1.2 million that economists say is... Continue Reading »

Homebuilder optimism remains limited, despite historically low mortgage interest rates as demand just isn't there, according to the latest National Association of Home Builders index. The NAHB and Wells Fargo (WFC: 24.25 -2.81%) survey builders to gauge perceptions of the new, single-family home market for the next six... Continue Reading »

There is a strong indication that homebuilders have almost ceased activity in several states as demand for newly built homes has dwindled. The slowdown in new home permits is particularly stark when compared to the total number of existing homes in each state. 24/7 Wall St. looked at the statistics for building permits to... Continue Reading »

WASHINGTON - Builders broke ground on fewer single-family houses in July, leaving home construction at depressed levels. The Commerce Department said Tuesday that builders began work on a seasonally adjusted 604,000 homes last month, a 1.5 percent decrease from June. That's half the 1.2 million homes per year that... Continue Reading »

WASHINGTON - Homebuilders are just as pessimistic about the depressed housing market as they were two years ago. The National Association of Home Builders said Monday that its index of builder sentiment in August was unchanged at 15. The index has been below 20 for all but one month during the past two years. Any reading... Continue Reading »

Just as the market was starting to pick up steam, skittish buyers have once again cooled its engines. After two months of growth, new home sales in May dropped 2.1 percent, according to Census figures released Thursday. But the record-low inventory of new construction could mean we'll see the light at the end of the tunnel... Continue Reading »

Housing starts rose 3.5 percent in May to the highest level in months and well above most analysts' estimates. The Commerce Department said construction of 560,000 new homes was started last month, compared to 541,000 a month earlier. Despite the monthly increase, new home construction in May fell 3.4 percent from last... Continue Reading »