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Confidence weakens in apartment/condo sectors

Confidence in the market for new multifamily housing weakened in the first quarter of 2019, 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) dropped seven points to 40 compared to the previous quarter, which is the lowest reading since the third quarter of 2010. Meanwhile, the Multifamily Vacancy Index (MVI) rose three points to 48, with higher numbers indicating more vacancies. Read More

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New home sales post solid rate in April

Sales of newly built, single-family homes fell 6.7 percent to a seasonally adjusted annual rate of 673,000 units in April after a sharp upwardly revised March report, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The March sales pace of 723,000 units was the highest monthly rate since the Great Recession and the April figure was the third-highest pace. Read More

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Existing-Home Sales Inch Back 0.4% in April

Existing-home sales saw a minor decline in April, continuing March’s drop in sales, according to the National Association of Realtors. Two of the four major U.S. regions saw a slight dip in sales, while the West saw growth and the Midwest essentially bore no changes last month. Read More

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The Life of Luxury

“There’s no question Baby Boomers and Gen X have more money,” said Milton Pedraza, chief executive officer of the Luxury Institute. He added that while younger consumers may have more debt and are less affluent, it’s a matter of time before they catch up as Boomers transfer wealth in inheritances.  Read More

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Single-Family & Multifamily see gains in April

Total housing starts rose 5.7 percent in April to a seasonally adjusted annual rate of 1.24 million units from an upwardly revised reading in March, according to a report from the U.S. Housing and Urban Development and Commerce Department. Read More

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Builder confidence posts solid gain in May

Builder confidence in the market for newly-built single-family homes rose three points to 66 in May, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today. Builder sentiment is at its highest level since October 2018. Read More

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Housing affordability holds steady year-over-year

Lower home prices, declining mortgage rates and solid income gains contributed to a rise in housing affordability in the first quarter of 2019, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI) released today. However, the HOI was little changed on a year-over-year basis, as home buyers continue to face ongoing challenges in terms of limited inventory, especially among starter homes for prospective first-time buyers. Read More

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Tariffs raised to 25 percent

Tariffs raised to 25 percent Thursday, May 09, 2019 from Floor Covering Weekly By Kacey Perinelli Photo taken by FCW’s Morgan Bulman [Washington] In… Read More

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Confidence in 55+ housing market strengthens

Builder confidence in the single-family 55+ housing market continued to strengthen in the first quarter of 2019 with a reading of 72, up six points from the previous quarter, according to the National Association of Home Builders' (NAHB) 55+ Housing Market Index (HMI). This is the highest reading since the inception of the index in 2008. Read More

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Labor shortage continues to impact industry

The labor shortage for the remodeling industry continues to impact the industry, according to a recent survey by the National Association of Home Builders (NAHB) Remodelers. NAHB released the survey results, which highlights availability of labor and subcontractors, to kick off National Home Remodeling Month in May. Read More