During the third quarter of 2023, availability of loans for residential Land Acquisition, Development & Construction (AD&C) continued to tighten, according to both NAHB’s survey on AD&C Financing and the Federal Reserve’s survey of senior loan officers. Each of the surveys produces a net easing index that is positive when credit is easing and negative
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Median square foot prices (excluding record-high improved lot values) for new for-sale single-family detached (SFD) homes started in 2022 increased 18%, according to NAHB’s analysis of the latest Survey of Construction data. Increases for square foot prices in new custom SFD homes were similarly high, averaging 19%, more than double the US inflation of 8%
By Jesse Wade on November 8, 2023 • Per the Mortgage Bankers Association’s (MBA) survey through the week ending November 3rd, total mortgage activity increased 2.5% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate fell 25 basis points to 7.61%. The FRM rate has decreased by 6 basis points over the
A house under construction is seen at Hawthorne Estates by D. R. Horton in Medford, New Jersey, U.S., May 23, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing Rights Nov 7 (Reuters) – U.S. homebuilder D.R. Horton (DHI.N) said on Tuesday it expects a sequential decline in home sales in the first quarter as high mortgage rates
U.S. President Joe Biden waves at the news media before boarding Marine One for travel to Maine from the South Lawn of the White House in Washington, U.S., November 3, 2023. REUTERS/Leah Millis Acquire Licensing Rights WASHINGTON, Nov 6 (Reuters) – The Biden administration on Monday said it will invest $2 billion in 150 federal
23,000 positions added across the board By Scott Judy For the seventh consecutive month, the U.S. construction industry posted job gains, this time recording an across-the-board overall increase of 23,000 positions during October, according to the Bureau of Labor Statistics. Specialty trade contractors added the most jobs, with a gain of 14,200, reports BLS. Of that
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