Over the first four months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 268,205. On a year-over-year (YoY) basis, this is 29.0% below the April 2022 level of 377,713. Year-to-date ending in April, single-family permits declined in all four regions. The Northeast posted the lowest decline of 17.6%, while the West region reported the steepest… Read More ›

With its modern vibe harkening back to Palm Springs style, Stone Radius is recognizable by its low, linear architecture; distinctive white limestone cladding; and soft-arching curvature. Located in Paradise Valley, Ariz., the 6,200-square-foot home is sited so that almost every room has a view of Camelback Mountain. Graceful in form, the residence is designed to mimic the radius of the circular cul de sac on which it lives. Only a handful of walls in the three-bedroom residence are straight. Instead,…

Celebrating its Ruby Anniversary and 40 years of design excellence, the Best in American Living Awards (BALA Awards) is the building industry’s premier residential design awards program. The BALA Awards spotlight the most creative and talented building industry professionals who have redefined design excellence for homes and communities across North America. Winning projects across a variety of categories showcase how  building industry professionals can set their products apart and hit the right marks with today’s highly educated and discerning home…

According to the latest Producer Price Index report, the prices of inputs to residential construction less energy (i.e., building materials) decreased 0.1% in May 2023 (not seasonally adjusted), following a 0.2% drop in April. The index has gained 0.3%, year-to-date, a stark contrast from the 10.2% and 4.9% YTD increases seen in 2021 and 2022, respectively.  The PPI for goods… Read More ›

The Federal Reserve’s monetary policy committee maintained the federal funds rate at a top target rate of 5.25% at the conclusion of its June meeting. The Fed will also continue to reduce its balance sheet holdings of Treasuries and mortgage-backed securities. Despite the June pause, the Fed’s projections indicated perhaps two more rate hikes are in store in the coming… Read More ›

Kinston fuses timeless ideas of place with fearless forward-thinking applications. Oriented around parks, peppered with public areas, and braided with an extensive and connecting trail system, the neighborhoods are reminiscent of classic towns — textured, unique and a bit quirky to appeal to a diversity of residents and encourage spontaneous meetings. Residents gather at the Kinston HUB, a meeting place to explore an extensive trail and open space network, parks and adjacent amenities. The character at Kinston incorporates contemporary elements…

Per the Mortgage Bankers Association’s (MBA) survey through the week ending June 9th, total mortgage activity increased 7.2% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate fell five basis points to 6.77%. The FRM rate has risen 20 basis points over the past month. The Market Composite Index, a measure of mortgage loan application volume, rose… Read More ›

Consumer prices in May saw the smallest year-over-year gain since March 2021, mainly driven by lower energy prices. This marked the eleventh consecutive month of deceleration. While this measure aligned with expectations, core inflation remained persistent due to the increase in rent prices. The shelter index (housing inflation) continued to be the largest contributor to both headline and core inflation,… Read More ›

The goal of this design was to create single-family detached homes for entry-level buyers in a community that delivers value in an era of rising interest rates. To execute this vision in this 1,475-square-foot home, the design incorporates must-have spaces—such as the great room, living room, three bedrooms, two-car garage and private outdoor space—with abundant natural light to create an open feel and balanced space allocation to ensure maximum livability. Raised ceiling plates in the primary living areas also make…

The first quarter of 2023 release of the Z.1 Financial Accounts of the United States shows for a third consecutive quarter the value of households’ real estate assets contracted. The combination of economic uncertainty and declining home prices has played a role over the past year in decreasing the value of households’ real estate assets. The level of households’ real… Read More ›