According to data from the Census Bureau’s Survey of Construction (SOC), custom homes share increased to 20.4 percent of all single-family homes started in 2022 from the 17.6 percent recorded in 2021. The custom home market consists of contractor-built and owner-built houses—homes built one at a time for owner occupancy on the owner’s land, with either the owner or a… Read More ›

Located on 1844 acres outside of Boise, Idaho, Hidden Springs is a new 1135-home community that places a high priority on maintaining its appealing rural ambiance. The town is surrounded by 800 acres of protected open land including wetlands, farmland and natural wildlife areas.  The community’s landscaped common areas connected to miles of public hiking and biking trails.  The plan for the town center features a general store and café, post office, preschool, police and fire departments, a community garden,…

The report from the Federal Reserve Bank of Boston discusses the recent trends in consumer price inflation, focusing on the period from 2021 to June 2023. After experiencing elevated readings in 2021 and 2022, inflation has moderated this year. The total consumer price index (CPI) decreased from 6.4 percent in December 2022 to 3.1 percent in June 2023, with core… Read More ›

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

National home prices continued to increase in September. Despite rising mortgage rates, limited inventory and solid but weakened demand provided solid support for home prices. Locally, all of 20 metro areas had positive home price appreciation in September. The S&P CoreLogic Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth… Read More ›

The most recent release of the Census Bureaus’ Survey of Market Absorption of New Multifamily Units (SOMA) reported that of the 99,290 unfurnished, unsubsidized apartments completed in the second quarter of 2023, 65% were absorbed into the market in the first three months following completion. 83% of 3,467 condominiums completed in the second quarter were absorbed within the first three… Read More ›

What do your buyers want? Stay ahead of your competitors with these eight ideas for 2018! 1. Greater use of metal and wood on exteriors Step away from the siding – if only to add detailing or entire facades in metal and wood! 2. Blurred lines between residential and commercial applications Materials and details that were once only for commercial projects are now making their way into the single- and multifamily realms. Inside Out | Photo by Mark Doyle 3.…

The missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and other small multifamily properties. The multifamily segment of the missing middle (apartments in 2- to 4-unit properties) has disappointed since the Great Recession. For the third quarter of 2023, there were just 3,000 2- to 4-unit housing unit construction starts. This is down from a year prior…. Read More ›

Elevated mortgage rates that averaged 7.62% in October per Freddie Mac, the highest rate since 2000, depressed buyer demand and pushed down new home sales in October. Sales of newly built, single-family homes in October fell 5.6% to a 679,000 seasonally adjusted annual rate, following a notable downward revision in September, according to newly released data by the U.S. Department… Read More ›

Entire Home up to $250,000, Platinum Award: Squaw Creek Ranch, Doss, Texas The owners wanted to renovate and restore their pioneer homestead, while providing modern amenities and ample room for entertaining and overnight guests at their Hill Country ranch. When the structure was gutted, materials were salvaged and recycled into the restoration. Historic light fixtures, salvaged doors and lumber give the project a period feel. A new standing-seam roof was applied in the traditional style. Budget and end use in-mind,…