On the site of a former citrus packing house from Orange County’s agricultural era, this rail-adjacent, mixed-used project moves at the speed of growth in downtown Fullerton, California. Located within the Transportation Corridor, the project backs onto the former Santa Fe Railway and newer Metrolink station and sits adjacent to the SOCO District, providing an array of restaurant and entertainment uses. Large murals face the railway, paying homage to the city’s historic past, and a bicycle mechanic shop, internal connectivity,…

A majority of new homes that completed construction in 2022 included two-car garages (66%), according to NAHB analysis of 2022 Census Bureau Survey of Construction data. There is clear uniformity for parking options in new homes completed across the Census divisions: the 2-car garage was the most popular parking option for completed homes in all divisions. The option for three or… Read More ›

Trails and rails ate the focus of this 131-unit townhome community in Hillsboro, Oregon, combining the attraction of natural preserves with the convenience of an adjacent light-rail station.  To increase the sense of neighborhood, a New Urbanist approach was used in designing the units, including courtyards and front porches with space to sit and chat.  The townhomes, constructed as individual, fee-simple buildings, mostly are clustered in groups of four.  To emphasize individuality, each unit is defined by architectural style and…

Job growth decelerated in October. Total nonfarm payroll employment increased by 150,000 and the unemployment rate edged up to 3.9% in October from 3.8%. The labor market is cooling. The Fed held interest rates steady for the second meeting in a row at the conclusion of its November meeting. This month’s employment data will be one of the key components… Read More ›

NAHB analysis of the Survey of Construction (SOC) shows that 70% of all new single-family homes started in 2022 were built on slab foundations, followed by 19% of homes built with a full/partial basement and 10% of homes built with a crawl space. As home building shifts towards the southern geographic divisions, slab adoption rates are growing higher. The share… Read More ›

The Federal Reserve’s monetary policy committee held the federal funds rate at a top target rate of 5.5% at the conclusion of its November meeting. While noting that the Fed was “strongly” committed to reducing inflation to its target rate, this marked the second meeting in a row of no increase as the central bank examines incoming data. The Fed’s… Read More ›

NAHB analysis of Census Construction Spending data shows that private residential construction spending rose 0.6% in September, after a 1.3% increase in August. It stood at a seasonally adjusted annual pace of $872 billion. However, total private residential construction spending is still 2.2% lower compared to a year ago. The total construction monthly increase is attributed to more spending on… Read More ›

Financial conditions continue to be tight, as the 10-year Treasury rate stands near 4.8% this morning. Among the factors leading to higher rates (more debt issuance, higher-for-longer monetary policy expectations, long-term fiscal deficit conditions, and strong current GDP growth data for the third quarter) is an ongoing, elevated count of open jobs for the overall economy. In September, the number… Read More ›