US home construction surges 22.6%, third monthly increase
4 years, 4 months ago

US home construction surges 22.6%, third monthly increase

Associated Press  

WASHINGTON — Construction of new U.S. homes surged 22.6% last month as homebuilders bounced back from a lull induced by the coronavirus pandemic. The Commerce Department reported Tuesday that new homes were started an annual pace of nearly 1.5 million in July, highest since February and well above what economists were expecting. housing starts blew the roof off of expectations in July.. these are the kind of gains seen after storms/hurricanes,” Jennifer Lee, senior economist at BMO Capital Markets, wrote in a research note. “Strong demand and a record level of homebuilder confidence will support housing starts in the second half of 2020,” economists Nancy Vanden Houten and Gregory Daco of Oxford Economics wrote.

Construction Housing Starts  strong  housing  builders  increase  construction  monthly  starts  wrote  reported  support  226  economy  record  surges

History of this topic

US New-Home Sales Rebound in November After Storm-Stricken Month
2 weeks, 3 days ago

US New-Home Sales Rebound in November After Storm-Stricken Month

Live Mint  

-- New-home sales in the US rebounded last month as builders and consumers sealed deals that had been delayed by storms in the South, and buyers took advantage of heavy sales incentives. Sales of new single-family homes increased 5.9% last month to a 664,000 annualized rate, according to government data issued Monday. Builders last month played catchup especially in the …

Housing construction costs and completion times have blown out – can this be fixed?
1 month, 1 week ago

Housing construction costs and completion times have blown out – can this be fixed?

ABC  

New data from the Australian Bureau of Statistics suggests that the Federal Government's 2020 HomeBuilder scheme helped to super charge demand for the construction sector, at a time when demand was already high with low interest rates. This, along with material and skills shortages, has helped to drive up construction costs, and ABS data shows that the time to complete …

US new home construction surged last month, as mortgage rates stayed high
9 months, 3 weeks ago

US new home construction surged last month, as mortgage rates stayed high

CNN  

Washington, DC CNN — Amid a housing shortage and an affordability crisis, US homebuilding heated up in February as builders anticipate demand for new homes to stay strong. “Lower mortgage rates are likely to bring buyers to the market in larger numbers, and builders are ramping up supply to meet this demand,” said Kelly Mangold of RCLCO Real Estate Consulting, …

Housebuilding makes ‘solid return’ to pre-pandemic levels – industry body
2 years, 5 months ago

Housebuilding makes ‘solid return’ to pre-pandemic levels – industry body

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. In the …

US consumer confidence hits 14-month high, house prices soar
3 years, 8 months ago

US consumer confidence hits 14-month high, house prices soar

Al Jazeera  

An upbeat survey released Tuesday by the Conference Board suggests the US economy is continuing to power ahead early in the second quarter as the pace of COVID-19 vaccinations accelerates. An upbeat survey released Tuesday by the Conference Board suggests the economy is continuing to power ahead early in the second quarter as the pace of COVID-19 vaccinations accelerates. “Led …

Global shortages, HomeBuilder demand causing building delays and price rises
3 years, 9 months ago

Global shortages, HomeBuilder demand causing building delays and price rises

ABC  

A sharp increase in global demand for building products during the COVID-19 pandemic has caused price rises and delays on Australian construction sites and is prompting calls for changes to the federal government's HomeBuilder scheme. Key points: Freight restrictions and demand for materials like timber are contributing to delays The opposition wants the HomeBuilder scheme tweaked to enure steady work …

Builders grapple with land shortage, soaring lumber costs
3 years, 10 months ago

Builders grapple with land shortage, soaring lumber costs

Associated Press  

LOS ANGELES — U.S. homebuilders are poised to benefit this spring homebuying season amid strong demand, low mortgage rates and an all-time low inventory of previously occupied homes for sale. The price of lumber more than doubled over the last year to an all-time high, reflecting strong demand for new construction and home remodeling, and pandemic-related problems limiting production. Ali …

US existing home sales, median price rose in January
3 years, 10 months ago

US existing home sales, median price rose in January

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Sales of previously occupied U.S. …

US construction spending up 1% in December led by housing
3 years, 11 months ago

US construction spending up 1% in December led by housing

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy U.S. construction spending rose a …

US construction spending increases solid 0.9% in November
4 years ago

US construction spending increases solid 0.9% in November

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Spending on U.S. construction projects …

Housing market is still going strong and propping up the economy
4 years, 4 months ago

Housing market is still going strong and propping up the economy

CNN  

New York CNN Business — The housing market continues to be a bright spot inthe United States economy that has been ravaged by coronavirus. “Homebuyer demand remains robust, inventories are tight, and there is a need for new units to keep the pace of sales going,” said Mike Fratantoni, chief economist of the Mortgage Bankers Association, in a report Tuesday. …

Housing market could still see major recession to come as coronavirus ravages economy
4 years, 5 months ago

Housing market could still see major recession to come as coronavirus ravages economy

ABC  

In ordinary times, they're inseparable. Housing demand in the dumps Only a few months back, normally sober commentators were predicting a housing market crash of up to 30 per cent. Still, late last week, ratings agency S&P predicted a 10 per cent drop in our housing prices nationally as the virus numbers gathered pace in Victoria. Housing credit numbers released …

Coronavirus put 40,000 construction jobs at risk
4 years, 7 months ago

Coronavirus put 40,000 construction jobs at risk

NL Times  

If the government does not intervene, employment in the construction sector could fall by 40 thousand full-time jobs next year due to the coronavirus crisis, the economic institute for construction EIB said in a report on Friday. According to the EIB, construction has a "late-cyclical character", which means that the effects of the corona crisis will only be felt in …

HomeBuilder coronavirus renovation scheme welcomed by WA builders, but not everyone is happy
4 years, 7 months ago

HomeBuilder coronavirus renovation scheme welcomed by WA builders, but not everyone is happy

ABC  

The Federal Government's home renovation subsidy package has come at the perfect time for Kristian Lawrence. Key points: Homeowners must spend at least $150,000 to access HomeBuilder cash Homeowners must spend at least $150,000 to access HomeBuilder cash Builders say the scheme is desperately needed and will protect jobs Builders say the scheme is desperately needed and will protect jobs …

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