An earlier post revealed that 69% of buyers who were actively engaged in the process of finding a home in the second quarter of 2023 have spent 3+ months searching for a home without success. The inability to find an affordable home remains the most common reason buyers looking for 3+ months can’t make a purchase, cited by 38% (although… Read More ›
The Bowen is a 19-story apartment tower in Austin, Texas, with 339 residences averaging 955 square feet. As the first residential high-rise at The Domain, The Bowen is the jewel in the crown of an already thriving mixed-use community. The Bowen sits in Domain South End, neighboring two office towers. The location allows residents to access the community from the south, limiting their time in traffic while still enjoying living within walkable distance of bustling retail. The building’s architecture has…
The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate at 65.9% in the second quarter of 2023, amid persistently tight housing supply. The homeownership rate remained statistically unchanged from the first quarter reading (66%). Compared to the peak of 69.2% in 2004, the homeownership rate is 3.3 percentage points lower and remains below the 25-year average rate… Read More ›
NAHB’s Best In American Living (BALA) Awards portal is now open and accepting applications for the 2023 cycle. Now in its 40th year, BALA has proven itself as a prestigious and well-respected recognition program for residential design. Winning a BALA Award has validated, inspired, and positively impacted the thousands of individuals and firms who have won over the years and continues to demonstrate that the most desirable homes and communities start with good design. Don’t miss out on your opportunity…
The Prairie Ranch perfectly complements the landscape it occupies while simultaneously delivering on the most desirable elements of modern living. From its eye-catching exterior to its spacious and attractive interior, the home is a masterful flourish of architectural design. Through a wide and welcoming foyer to an impressive and open-layout kitchen, dining room and great room, sunlight plays inside these spaces to create brilliant natural lighting throughout the day. Perfect for families, empty nesters, and those with a discerning eye…
NAHB analysis of Census Construction Spending data shows that private residential construction spending rose 0.9% in June after an increase of 2.9% in May. Spending stood at a seasonally adjusted annual pace of $856.3 billion. However, total private residential construction spending is still 10.4%% lower compared to a year ago. The total construction monthly increase is largely attributed to more… Read More ›
The count of open, unfilled jobs for the overall economy continued to moved lower in June, falling to 9.6 million. While ongoing tight labor market conditions have raised the likelihood of a September Federal Reserve interest rate increase, the JOLTS survey is another data point indicating an ongoing but gradual cooling of macro conditions due to elevated interest rates. The… Read More ›