The U.S. homeownership rate was 65.6% in the second quarter of 2024, unchanged from the first quarter of 2024, according to the Census’s Housing Vacancies and Homeownership Survey (HVS). However, this marks the lowest rate in the last two years. The homeownership rate is below the 25-year average rate of 66.4%, due to a multidecade…

Nationwide, the share of non-conventional financing for new home sales accounted for 32.4% of the market per NAHB analysis of the 2023 Census Bureau Survey of Construction (SOC) data. This is a significant 4.3 percentage point increase from the 2022 share of 28.1%. As in previous years, conventional financing dominated the market at 67.6% of…

Situated along the scenic High Line Canal with a stunning Chatfield Reservoir view, the High Line House beautifully integrates traditional and modern forms, drawing inspiration from coastal design. Confronted by the site’s level topography, the design team optimized views, established a strong street presence, and filled the surroundings with depth by elevating the building site and artfully reshaping the terrain resulting in captivating layers and dimensions. Arranged at an angle on the site, the two structures segregate active and social…

Home prices experienced a third year-over-year deceleration in May, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index. On a year-over-year basis, the non-seasonally adjusted (NSA) index posted a 5.94% annual gain in May, down from a 6.39% increase in April. Since June of 2023, the index had seen steady increases in the…

Due to slowing home construction and elevated interest rates, the count of open construction sector jobs shifted lower in June, per the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS). However, this shift lower is consistent with a somewhat cooler labor market, which is a positive sign for future inflation readings and the…

Private fixed investment in student dormitories declined 5% to a seasonally adjusted annual rate (SAAR) of $3.7 billion in the second quarter of 2024, after a 2.8% decrease in the prior quarter. Private fixed investment in dorms was 0.4% lower than a year ago, as the elevated interest rates place a damper on student housing…

Indulge in the elegant luxury and sophisticated comfort of the Vineyard Views primary suite. Enter through double doors to the bedroom, where vaulted ceilings adorned with rustic wood beams exude a sense of grandeur and warmth. The opulent space features a custom headboard that complements the plush white bedding, inviting you to sink into a realm of absolute relaxation. The jewel of the space is a glass-enclosed sitting room gracefully protruding from the side of the home, offering a picturesque…

The Tribune Tower is one of Chicago’s most treasured historic landmarks. Originally constructed in 1925, the tower was located adjacent to an existing printing plant. In 1935, the Radio Building was added to the site, followed by the Television Building in 1950. In 2018, the Chicago Tribune vacated the building. and the conversion of the landmark tower into 162 luxury condominium units began. The tower’s historic facade was preserved and restored, ensuring its continued architectural stature. Historically sensitive enhancements to…

The number of homes started in 2023 exceeding 5,000+ square feet, dropped to 26,000, a decrease from 29,000 in 2022, according to the annual data from the Census Bureau’s Survey of Construction (SOC), In 2006, the number of new 5,000+ square foot homes reached a peak of 45,000. This number proceed to drop during the Great Recession…

Personal income inched up 0.2% in June, down from a 0.4% increase in the prior month, according to the most recent data release from the Bureau of Economic Analysis (BEA). Gains in personal income are largely driven by increases in wages and salaries. As spending outpaced personal income growth, the personal savings rate decreased to…