Apologies to Paul Simon, but when I looked at the long list of design ideas I compiled while at the International Builders’ Show in Orlando, I thought I’d try to mention 50 of them—a nice round num
Business financials advice, reports, and trends for professional home builders and remodelers.
Builder confidence in the market for newly built, single-family homes improved slightly in November, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released last week. The HMI rose one notch to 16 from a downwardly revised level of 15 in the previous month.
Residential construction spending rose 1.8% in September, according a report from Reed Construction.
Nearly a quarter of U.S. mortgage holders owe more money than their house is worth, according to a report by Zillow. In the third quarter of 2010, the percentage of those underwater rose to 23.2 percent, up from 21.7 percent a year ago.
Realtors at the annual conference in New Orleans got a sobering reminder that the housing boom is gone for good, The Wall Street Journal reported.
So-called “jumbo” mortgages are back in vogue. Although still far below 2007 levels, more smaller and regional lenders, as well as some big banks, are issuing more large loans, The Wall Street Journal reported. The increase in jumbo mortgages could help boost home sales in wealthier areas.
Though counterintuitive in today’s market, a new pricing study from McKinsey & Co. suggests that a modest price increase on a cost-per-square foot basis might be worth considering.
Last year, the Obama administration was committed to mitigating the wave of foreclosures. Now, CNNMoney reports that officials are highlighting the need for foreclosures, calling them “an important part of ensuring longer-term stability in the market."
The percentage of households that owned their home hit its lowest level since 1999. The rate for the July-September quarter remained unchanged at 66.9%. Homeownership reached its peak in 2004, with more than 69% of households owning their home.
Toll Brothers, the largest luxury home builder in the U.S., agreed to a $25 million settlement in an investor lawsuit, Reuters reported. Investors claimed the company overstated its ability to manage to housing slump. Toll Brothers denied wrongdoing in agreeing to settle.
The single-family housing market will grow 27 percent in dollars in 2011. That translates into a 25 percent increase in the number units to 565,000, according to the McGraw-Hill Construction Outlook report. Multifamily housing is also expected to increase in '11.