Consumer prices in October saw the smallest year-over-year gain since January 2022, and while still elevated, inflation experienced the first month below an 8% annual growth rate since February 2022. However, the shelter index continued to rise at an accelerated pace and the energy index increased after declining for three straight months. As inflation appears to have peaked and has… Read More ›

Rising mortgage rates, high inflation, ongoing building material supply chain disruptions, and elevated home prices contributed to housing affordability falling – yet again – to its lowest point since the Great Recession in the third quarter of 2022. According to the NAHB/Wells Fargo Housing Opportunity Index (HOI), just 42.2% of new and existing homes sold between the beginning of July… Read More ›

The Model Home at The Village at Seven Desert Mountain is 10,000 sf of a modernist dream world for golfers and lovers of the luxury golf lifestyle. Designed to set the tone for a national award-winning builder, the architect created modernist designs with a rugged material palette that lends itself to the desert setting distinct to north Scottsdale. A fusion of European oak, rustic ledgestone, steel, and porcelain lends an organic vibe to the desert modern home. Because this product…

Per the Mortgage Bankers Association’s (MBA) survey through the week ending November 4th, total mortgage activity declined 0.1% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate rose eight basis points to 7.14%. The FRM rate has risen 33 basis points over the past month and has been above 7% for the past three weeks. The Market… Read More ›

Originally designed as a single-family home by noted architect, Ralph Adams Cram, FAIA, this 130-year-old house has been preserved, restored, and adapted as a multifamily residence. Its reuse for five apartments helps address the local housing shortage, conserves the embodied energy of an existing building, and helps preserve a traditional, walkable neighborhood. Despite fire damage and the gutting of much of the interior, the project team successfully preserved and transformed the building, successfully combining the use of salvaged materials with…

According to the Federal Reserve’s latest G.19 Consumer Credit report, consumer credit growth (ex-real estate) decelerated to a seasonal adjusted annual rate (SAAR) of 6.8% in the third quarter of 2022 after growing at an 8.7% pace in the prior quarter.  Revolving debt increased at a 12.9% rate, more than double the pace of nonrevolving debt (+4.9%). Credit card interest… Read More ›

This single-story residence is unique in that it is the only double wide lot in its neighborhood. The design challenge became a balance between maximizing the expansive lot while developing a massing that naturally integrates into existing neighborhood context. Rather than appear as a single monolithic structure, the home presents itself as an assemblage of traditional farmhouse styles that were constructed over a period of time. � The central building is a limewashed brick with wooden dormers, styled as the…

Nexton, a 5,000-acre master-planned community in the heart of Charleston’s growth corridor, has emerged as a national Top-50 selling master-planned community by RCLCO and a world-class residential and commercial destination. After launching with commercial nodes to drive regional employment, Nexton added outposts of the city’s best shopping and dining venues to attract homebuyers, workers, and tourists. Nexton has a fully segmented residential program designed to attract renters, first-time buyers, move-ups, and retirees. Thoughtful planning and innovative design brought together a…

NAHB analysis of information published in Builder Magazine’s annual Local Leaders lists shows that large builders gained market share across all tiers on average from 2009 to 2021 in major housing markets; market concentration, as calculated with top four firms in a metropolitan statistical area (MSA), has also increased, but has leveled off over the last four years. Figure 1 shows… Read More ›

Job growth slowed in October as the Fed continues its tightening of financial conditions to fight inflation, but the overall labor market remains tight. The unemployment rate increased by 0.2 percentage points to 3.7% in October as the number of persons in the labor force decreased for the second straight month. Total nonfarm payroll employment increased by 261,000 in October,… Read More ›