Per the Mortgage Bankers Association’s (MBA) survey through the week ending September 9th, total mortgage activity declined 1.2% and the average 30-year fixed-rate mortgage (FRM) rate rose seven basis points to 6.01%. The FRM rate has increased 56 bps over the past month reaching a 14-year high. The Market Composite Index, a measure of mortgage loan application volume, decreased by… Read More ›

According to the annual data from the Census Bureau’s Survey of Construction (SOC), the share of new homes started with 5,000 square feet or more of living space stood at 2.90 percent in 2021, up from 2.50 percent in 2020.  A total of 33,000 5,000+ square-foot homes were started in 2021, compared to 25,000 in 2020.  The increase in number and share… Read More ›

COVID-19 has forced many dwellers to reside at home during the quarantine time and conduct all their daily activities from there. Dweller’s daily routine has changed during the quarantine period. People started working remotely and spending more time inside their homes. Before COVID, most dwellers would spend most of their time at their offices, and more activities were conducted outside of their homes rather than inside. However, with the Pandemic a new norm has evolved, which is here to stay…

According to the annual data from the Census Bureau’s Survey of Construction (SOC), stucco was the most common principal siding material on new single-family homes started in 2021 (28 percent),  followed by vinyl siding (24 percent), fiber cement siding (such as Hardiplank or Hardiboard (23 percent) and, brick or brick veneer (19 percent). Far smaller shares of single-family homes started last year had wood or wood products (4 percent) and stone, rock or other stone materials (1 percent) as the principal exterior wall material. The Census Bureau’s SOC data is available by the nine census…

The clients wanted a home that could entertain on a grand scale, accommodate their large family plus extended-stay guests, and feel comfortable once they become empty nesters. They had found a secluded flag lot and envisioned a home with a timeless exterior and a light and fresh interior where they could live with their growing art collection. Considering the clients’ passion for French rural architecture and Art Deco design, the design team implemented elements of both with a fresh eye.…

The prices of building materials rose 0.5% in August (not seasonally adjusted) even as softwood lumber prices decreased 5.2%, according to the latest Producer Price Index (PPI) report. Building materials prices have climbed 4.9% through the first eight months of 2022 and 14.3% over the past year. The PPI for goods inputs to residential construction, including energy, decreased 0.9% in… Read More ›

Warner Red Hill celebrates Santa Ana’s industrial heritage, promoting an enriched and diverse culture, healthy community living, and thriving regional economy. The site comprises four distinct neighborhoods, retail, and an energetic mix of public and private amenities, and community gathering space. At the gateway sits Market Hall, a carefully curated experience featuring local restaurants and food concepts that reflect Santa Ana’s diverse culture and unique identity. Residents and visitors can enjoy local bands and art exhibits, grab a craft brew,…

Consumer prices eased in August for the second-straight month as declines in energy prices offset increases in food and shelter indexes. Despite this slight improvement, inflation remains above an 8% year-over-year rate for the sixth straight month. The food index recorded its largest annual gain since May 1979 as all six major grocery store food group indexes increased. Though it… Read More ›

Situated on 2,000 acres of picturesque land with 20 miles of shoreline and an extensive trail network, the community combines residential, retail, and hospitality offerings in a natural riverside setting. Designed specifically for the Kiawah River community, The Swallow home plan exemplifies Southern style interpreted for modern living. Artisan trim boards and a metal roof create charming curb appeal; a large front porch captures island breezes. A vaulted family room leads to the kitchen featuring a generous island, dining nook,…

The number of women employed in the construction industry increased to over 1.24 million in 2021, as the construction industry was quickly recovering  jobs lost earlier during the pandemic induced recession. Currently, women make up 11%  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… Read More ›