Posts Tagged new construction

New Home Sales Increase in May

home sold sign

New home sales got a small boost in May, signaling continued growth in new construction and builder confidence. According to a June 23 press release from the National Association of Home Builders (NAHB), sales of newly built, single-family homes rose 2.9 percent in May to a seasonally adjusted annual rate of 610,000 units after an upwardly revised April reading. The data comes from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

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Builder Confidence Remains at Healthy Levels

home builders

Builder confidence in the market for newly-built single-family homes showed a slight weakening in June, down two points to a level of 67 from a downwardly revised May reading of 69 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Despite the minor drop month over month, levels of builder confidence have remained fairly steady so far in 2017.

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Decline in multifamily construction lowers nationwide housing starts in April

new construction

After a decline in multifamily production, housing starts across the country dropped 2.6 percent in April to a seasonally adjusted annual rate of 1.17 million units, according to recently released data from the U.S. Department of Housing and Urban Development (HUD). Multifamily housing starts fell 9.2 percent to a seasonally adjusted annual rate of 337,000 units while single-family production increased 0.4 percent to 835,000. 

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