home construction - Articles

Singer Deniece Williams' Plastic-Wrapped Mansion Annoys Neighbors

The mansion wrapped in plastic is not part of a Christo art installation -- those are only temporary. The 20,000-square-foot house in Cherry Hill, N.J., that's owned by a four-time Grammy-winning singer reportedly has been under construction since 2008 with apparently no end in sight -- just the sight of it under a lot... Continue Reading »

Construction Spending Rises in July, Boosted by Business and Housing

Chuck Burton/The Associated Press U.S. construction spending rose in July as more outlays to build homes and businesses countered a decline in the government sector. Construction spending climbed 0.6 percent to an annual rate of $901 billion, the Commerce Department said on Tuesday. The growth rate was above the median... 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 »

U.S. Housing Starts Rise, Permits at 4 1/2-Year High

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 »

Housing Starts: Signs of Life Have Builders Hopeful

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 »

New Home Sales 2011: Worst Year on Record

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 »

After Dismal Year, Homebuilders See Hope in 2012

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 »

Homebuilder Sentiment Rises to Highest Level Since 2007

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 »

Jodie Foster's Dad Guilty of Housing Fraud

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 »

Builders See Uptick in Home Construction Spending

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 »

New Home Sales Rise After 4-Month Decline

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 »

Housing Starts Drop as Home Construction Wavers

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 »

Builders' Confidence Slips Again, Despite Low Mortgage Rates

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 »

The 10 States Where No One Wants to Buy a New Home

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 »

Housing Starts Drop Amid Glut of Inventory

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 »

Homebuilder Confidence Stays Flat As Obstacles Persist

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 »

Number of New Home Sales Drops, but So Does Supply

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 Beat Expectations, Rise 3.5%

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 »

Housing Outlook: Homebuilder Confidence Stuck in a Rut

Homebuilder confidence remained flat in May, as tight credit and a glut of distressed properties on the market continue to deflate expectations. The National Association of Home Builders/Wells Fargo Housing Market Index, which gauges builder confidence on three criteria -- current home sales, projected sales in six months... Continue Reading »

Construction Spending Rises After Record-Low Month

After falling below spending levels not seen since over a decade ago, construction spending rose in March for the first time in three months, according to Census data released Monday. March construction spending was at a seasonally adjusted annual rate of $768.9 billion, or 1.4 percent above the revised estimate of $758.6... Continue Reading »

Home Builders Spending Half of Healthy Level

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 »

Home Builders Brighten Their View -- a Bit

Homeowners, take heart -- the market shows signs of life yet. For the first time in four months, home builder confidence inched up one point to its highest level since May. Home builder confidence in new, single-family homes rose to a score of 17 in March, according to the National Association of Home Builders/Wells Fargo... Continue Reading »

Construction Spending Continues to Slide

Construction spending in January fell to its lowest point in five months, thanks largely to weak private investment – a less-than-optimistic sign for housing market hopefuls. January construction spending slipped 0.7 percent to a seasonally adjusted rate of $791.8 billion, down from $797.6 billion in December,... Continue Reading »

Top Home Improvement Projects for Summer

Betsy Taylor and her husband decided to embark on a major home improvement project one winter: renovating their kitchen in Portland, Maine. "We hadn't planned on redoing the floors, but after three weeks of tracked in Old Man Winter, the contractor replaced it at no additional cost," she says. "While it was nice to have a... Continue Reading »

New-Home Builds Increase, Fall Short of Forecasts

Builders are building more new homes, but apparently not enough to constitute a recovery. While housing starts increased 1.7 percent in July, to 546,000, those numbers were substantially lower than the 560,000 anticipated, according to the Commerce Department. New building permits fell 3.1 percent to a 14-month low,... Continue Reading »

New Home Builds Fall 5% Due to Severe Drop in Condo Market

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 »

AOL RealEstate on Facebook