Tuesday’s report on new home sales came in as a miss of estimates and prior revisions were all negative. This data line confirms what we all know to be the case: The housing market, at least as it relates to construction, is in a recession. What I have always tried to do with my economic
Tag: Housing
This week, Metro released the annual affordable housing bond report. The report includes details about bond housing production across the region in 2021, showing significant progress toward delivering on promises made to voters. Regional progress on affordable housing The bond was passed by voters in 2018 and aims to create 3,900 homes region wide. As
Homebuilders have become extremely cautious about the prospect of single-family home sales, while multifamily activity remains robust. Single-family units fell to 982,000 in June, the lowest level since the pandemic lockdown of March 2020, while multifamily starts reached 577,000, one of the highest levels in 30 years. Moreover, housing permits, which can be regarded as
New home construction slumped in June as both housing permits and new home starts fell from May levels, the Census Bureau and the Department of Housing and Urban Development reported on Tuesday. Permits came in at 1.685 million, down 0.6% from the revised May reading of 1.695 million while starts fell 2% to 1.559 million,
Carpenters work on building new townhomes that are still under construction while building material supplies are in high demand in Tampa, Florida, U.S., May 5, 2021. REUTERS/Octavio Jones Register now for FREE unlimited access to Reuters.com Register July 19 (Reuters) – New U.S. home-building activity fell to a nine-month low in June and permits for
Topline New housing starts unexpectedly plunged more than economists projected in June as home builders grappled with the effects of rising interest rates curbing demand for new homes, according to data released Tuesday, adding to signs of an abrupt turnaround in the booming housing market. Plummeting mortgage applications suggest construction of single-family homes could crater
Four Habitat for Humanity houses, three of which include ADUs. A Chipotle on Tower Road. Those were the only five documented concept plans submitted to Denver Community Planning and Development in the first seven days after the launch of the city’s Expanding Housing Affordability program. Another had been submitted but not fully processed. So far,
The U.S. needs 4 million more homes in order to keep up with demand. But high prices and mortgage rates are making builders question whether they want to build homes that might not sell. Rick Bowmer/AP hide caption toggle caption Rick Bowmer/AP The U.S. needs 4 million more homes in order to keep up with
HUD No. 22-127HUD Public Affairs(202) 708-0685 FOR RELEASEWednesdayJuly 6, 2022 HUD CLOSES $26 MILLION RENTAL ASSISTANCE DEMONSTRATION CONVERSION WITH PHILADELPHIA HOUSING AUTHORITY TO CREATE 58 NEWLY CONSTRUCTED AFFORDABLE HOMESNew affordable rental homes are part of redevelopment plan for Philadelphia’s Sharswood/Blumberg community WASHINGTON, D.C. – The U.S. Department of Housing and Urban Development’s Office of Multifamily
Governor Kathy Hochul today announced the start of construction on a $13.5 million affordable housing development in the Seneca County Village of Waterloo. LaFayette Apartments will convert the historic Main Street School into 35 homes for seniors aged 62 and older. “Transforming the historic Main Street School into affordable housing is a great example of how state, local and