Over the first month of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 53,062. On a year-over-year (YoY) basis, this is 36.4% below the January 2022 level of 83,404. Year-to-date ending in January, single-family permits declined in all four regions. The Northeast posted a decline of 20.3%, while the West region reported the steepest decline of… Read More ›

This new community of 22 luxury three- to four-bedroom condominium homes showcases northwest contemporary architecture and sleek interior finishes. This blank site with strict city parameters, height limitations and zoning setbacks was transformed into a four-story stacked-flat style development. Featuring bright, open floor plans with large outdoor living spaces, the homes are primarily single-level or with a guest bedroom on the lower floor. Each of the four buildings offers residents a private two-car garage on the first floor with stair…

Nonfarm payroll employment increased in 48 states and the District of Columbia in January compared to the previous month, while Wyoming and Rhode Island lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 504,000 in January, following a gain of 260,000 jobs in December. On a month-over-month basis, employment data was strong in… Read More ›

This home is called the Treehouse because of the view and feeling the oversized windows give on the second floor and also because the home leans toward green. It is built with energy-efficient, sustainable products and construction methods, including low-e windows, spray foam insulation, artificial turf and solar to name a few. The home was designed to create a private sanctuary on this small infill lot with neighbors close on all sides. Using a side courtyard plan, the home opens…

Job growth continued in February. After a revised 504,000 job gain in January, total nonfarm payroll employment increased by 311,000 in February, and the unemployment rate edged up to 3.6% from 3.4% in January. Wage growth increased to a 4.6% year-over-year gain from 4.4% last month, but down compared to February 2022. Today’s job report indicates that, overall, the labor… Read More ›

The most recent release of the Z.1 Financial Accounts of the United States shows a decrease in the value of households’ real estate assets over the fourth quarter of 2022. As home prices begin to decrease from pandemic highs, households’ real estate asset value fell for the first time since the first quarter of 2012. The level of households’ real… Read More ›

The community seamlessly connects disjointed parcels of Caltrans land originally intended to become a freeway into a series of connected neighborhoods. This plan is achieved through a progressive, holistic approach to walkability, open-space framework, neighborhood character, sustainability and contemporary architectural styles. As a public/private partnership, this new community was required to meet the needs of both the public and private sector: Relocating and upgrading a neglected public park into a connected amenity with unique features and amenities, and Continuing this…

This modern farmhouse is truly an ugly duckling transformation Before The home owners were open minded going into the remodel, with a desire for a new look, open-concept and second-floor addition. The greatest challenge was maintaining the original footprint; the home sat on a non-conforming lot resulting in the inability to modify the existing footprint. Because of this limitation, the original bones of the home remain a large part of what is visible today. The roof over the main entrance…

The NAHB recently published its latest Cost of Construction Survey. Results show that 60.8% of the average home sale price consisted of construction costs, essentially unchanged from the 61.1% posted in 2019. Since the inception of this series in 1998, this was the fourth time construction costs represent over 60% of the total price of the home (2013: 61.7%, 2015:… Read More ›

The count of open, unfilled jobs for the overall economy declined slightly in January, falling to 10.8 million, after an 11.2 million reading in December, which was the highest level since July. The count of total job openings should fall in 2023 as the labor market softens and the unemployment rises. From an inflation perspective, ideally the count of open,… Read More ›