Single-family construction held steady in October as high mortgage rates depressed demand but more buyers turned to new homes because of a lack of existing inventory. Overall housing starts increased 1.9% in October to a seasonally adjusted annual rate of 1.37 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census… Read More ›

Confidence in the market for new multifamily housing was in negative territory for the third quarter, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB).  The MMS produces two separate indices. The Multifamily Production Index (MPI) had a reading of 38 – well below the break-even point of 50 –… Read More ›

This building features 84 single- and multi-level units in downtown St. Paul, MN.  This project represents the fourth phase of a new urban village, Wacouta Commons.  Living up to the historic downtown building of St. Paul, the project is broken into two four-story mirror image buildings fronting the new street.  Bright colors and industrial materials give the buildings a fresh, contemporary character, complementing the traditionally styled neighborhood.  Buyers had the option to customize their unit as traditional or contemporary. The…

High mortgage rates that approached 8% earlier this month continue to hammer builder confidence, but recent economic data suggest housing conditions may improve in the coming months. Builder confidence in the market for newly built single-family homes in November fell six points to 34 in November, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI)…. Read More ›

According to the latest Producer Price Index report, the price level of inputs to residential construction less energy (i.e., building materials) declined 0.1% in October (not seasonally adjusted) following a 0.2% increase in September.  The index has increased 1.0%, year-to-date, marking the smallest YTD gain through October since it fell 0.1% over the first 10 months of 2019. The Producer Price… Read More ›

Over the first nine months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 693,908. On a year-over-year (YoY) basis, this is 13.3% below the September 2022 level of 800,424. Year-to-date ending in September, single-family permits declined in all four regions. The range of permit decline spanned 10.8% in the Northeast to 19.3% in the West…. Read More ›

Consumer prices in October remained unchanged, with the increase in shelter index being offset by the decline in the gasoline index. This cooling inflation increases the probability that the Fed is done increasing rates. Despite the slowdown, shelter costs continue to be a key driver of inflation, accounting for over 70% of the total increase in all items excluding food… Read More ›

Trend spotting is a favorite American pastime, especially when it comes to what is put into a house.  At this year’s Best In American Living Awards competition, the judges spotted several national trends, noted regional particulars, pointed out possible emerging trends, and even discussed what was on the way out, such as vaulted ceilings.  Mixed materials on exteriors.  Stucco, in particular, is moving east from California to the heartland and even up and down the East Coast.  Likewise, there is…

The Census Bureau’s latest Survey of Construction (SOC) shows minor changes in the number of full and half bathrooms for new single-family homes started in 2022 compared to 2021. The current data shows that 4.4% of new single-family homes started had one full bathroom or less, 62.3% had 2 full bathrooms, 25.8% had 3 full bathrooms and 7.5% had 4… Read More ›

Positioned near the base of iconic Camelback Mountain, in Paradise Valley, AZ, Outside In is a modernist home celebrating the love of outdoor living Arizonans crave. The design inspiration was honoring early territorial architecture while applying modernist design principles. Dressed with undulating negra cantera stone, the massing elements of Outside In bring an artistic stature to the project’s design hierarchy. This home boasts a never-seen- before feature: a re-entrant pocketing door, which unveils virtually the entire home’s living space to…