Per the Mortgage Bankers Association’s (MBA) survey through the week ending September 8th, total mortgage activity decreased 0.8% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate rose six basis points to 7.27%. The FRM rate has remained above 7% since the start of August. The Market Composite Index, a measure of mortgage loan application volume, fell… Read More ›

This custom house sits on a very narrow lot on Manatee River in Bradenton, Fla. The owner of the house is an architect and drew up the design for his house by hand. The owner was able to design a house that was long and skinny in order to get the most out of the lot. The house is separated into two wings: the living quarters, which include the kitchen, living room and dining room, and the sleeping quarters, which…

Consumer credit outstanding growth slowed to 2.5% in July, down from 3.4% in July (SAAR) according to the Federal Reserve’s latest G.19 Consumer Credit report. Revolving credit growth reaccelerated to 9.2% in July, potentially reflecting strong consumer sentiment and job security in a tight—albeit cooling—labor market. In contrast, nonrevolving consumer debt outstanding inched up just 0.2% over the month. Total… Read More ›

The second quarter of 2023 release of the Z.1 Financial Accounts of the United States indicates that the market value of households’ real estate assets increased over the quarter. Low existing for-sale inventory helped to increase real estate value after falling for three consecutive quarters. The level of households’ real estate assets increased by $2.43 trillion from $42.07 trillion in… Read More ›

TerraSante is a master planned community located in the Rainbow Valley area of Goodyear, Ariz. The property is nestled in a spectacular setting in the Sonoran Desert and at the base of the majestic Estrella Mountains. The master plan envisions the development of 4,500 homes adjacent to the central topographic feature branded as Spirit Ridge. The visioning process for this plan required extensive consideration to define and resolve challenges—from community visioning exercises to development execution. The brand design for the…

A majority of single-family home building occurs in counties that are in the lowest quintile of homeownership rates, according to NAHB analysis of 2021 5-year American Community Survey (ACS) county-level data and single-family permit numbers. This somewhat counterintuitive result is actually a reflection of the concentration of households in a small number of counties. For this analysis, counties were grouped… Read More ›

The number of women employed in the construction industry increased to over 1.28 million in 2022, as the construction industry recovered all jobs lost during the pandemic. Currently, women make up 10.9% of the construction workforce, up from 9.3% in 2002. As the construction skilled labor shortage remains a key challenge for housing, adding new workers is an important goal… Read More ›

Buyers at Corte Melina, Rancho Santa Margarita, CA need not wonder if they’ve secured a good value.  For less than $150,000, customers can purchase a stacked flat or townhome in the European-style community complete with motor courts, private below-grade parking and the attractions of Southern California courtyard living.  Corte Melina is comprised of 192 stacked flats and townhomes in 12 U-shaped buildings.  Each building contains 16 unite in three stories of dwelling space.  Situated on 7.4 acres, the community boasts…

Every year since 2008, the NAHB has conducted a member census in order to better understand the composition and characteristics of the people who belong to its organization.  Similar to a previous post about builder members, NAHB conducted a related analysis of its associate members.  In 2022, 65% of NAHB’s members were associate members—those involved in a wide range of… Read More ›

The volume of total outstanding acquisition, development and construction (AD&C) loans posted a decline during the second quarter of 2023 as interest rates continue to rise and financial conditions tighten. The volume of 1-4 unit residential construction loans made by FDIC-insured institutions declined by 2.8% during the second quarter. The volume of loans declined by $2.9 billion for the quarter…. Read More ›