How the election’s outcome could shape 5 key homebuilding issues

How the election’s outcome could shape 5 key homebuilding issues With the upcoming election set to determine the policies shaping housing’s near future, here’s how the candidates could impact the key roadblocks to a building boom in the U.S… Read More Builder and Developer Magazine https://www.nationalmortgagenews.com/list/how-the-elections-outcome-could-shape-5-key-homebuilding-issues

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10/29: MetroIntelligence Economic Update by P. DUFFY

MetroIntelligence Economic Update by P. DUFFY October consumer confidence slips slightly due to rise in Covid-19 cases and job outlook weakening Consumer confidence declined slightly in October (-0.4 points to 100.9), following a sharp improvement in September. Consumers’ assessment of current conditions improved while expectations declined, driven primarily by a softening in the short-term outlook for jobs. There is little to suggest that consumers foresee the economy gaining momentum in the final months of 2020, especially with COVID-19 cases on the rise and unemployment still high. https://conference-board.org/data/consumerconfidence.cfm   Home purchase loans…

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10/27: MetroIntelligence Economic Update by P. DUFFY

MetroIntelligence Economic Update by P. DUFFY New home sales dip 3.5 percent in September, but up 32.1 percent year-on-year. Sales of new single-family houses in September 2020 were at a seasonally adjusted annual rate of 959,000. Development. This is 3.5 percent below the revised August rate of 994,000, but is 32.1 percent above the September 2019 estimate of 726,000.  Months of supply rebounded to 3.6 months. https://www.census.gov/construction/nrs/pdf/newressales.pdf   U.S. economy continues to expand in October, especially for service businesses The IHS Markit Flash U.S. Composite PMI Output Index posted 55.5…

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Beverly project to receive funds supporting new affordable housing development

Beverly project to receive funds supporting new affordable housing development Gov. Charlie Baker highlighted a project in Beverly during the 2020 Affordable Rental Housing Awards; the award show resulted in the development of more than 2,400 affordable housing units… Read More Metro West Daily News https://www.metrowestdailynews.com/news/20201025/beverly-project-to-receive-funds-supporting-new-affordable-housing-development

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10/23: MetroIntelligence Economic Update by P. DUFFY

MetroIntelligence Economic Update by P. DUFFY   Initial unemployment claims dip 6.5 percent to 787,000 In the week ending October 17, initial unemployment claims were 787,000, a decrease of 55,000, or 6.5 percent, from the previous week’s revised level. Continued claims during the week ending October 10 were 8,373,000, a decrease of 1,024,000, or 10.0 percent, from the previous week’s revised level.  The total number of people claiming benefits in all programs for the week ending October 3 was 23,150,427, a decrease of 1,046,493, or 4.3 percent, from the previous…

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10/22: MetroIntelligence Economic Update by P. DUFFY

Building permits rose 5.2 percent in September and 8.1 percent year-on-year Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,553,000, up 5.2 percent from August and 8.1 percent year-on-year. Single-family permits were up 7.8 percent from August and 24.3 percent year-on-year. Multi-family permits for buildings with 5+ units were up 1.0 percent from August but down 22.2 percent year-on-year. https://www.census.gov/construction/nrc/pdf/newresconst.pdf   Housing starts rose 1.9 percent in September and 11.1 percent year-on-year Privately-owned housing starts in September were at a seasonally…

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For-Sale Housing Market Posts Highest Monthly Jump in 15 Years

For-Sale Housing Market Posts Highest Monthly Jump in 15 Years For the month of September, the house sales market has been successful as the average home value rose to $259,906 and the month-over-month growth rate went up 0.8%… Read More GlobeSt https://www.globest.com/2020/10/19/for-sale-housing-market-posts-highest-monthly-jump-in-15-years/

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Builder opens two model homes in new community

Builder opens two model homes in new community Neal Land & Neighborhoods a master-planned community, has opened two KB Homes models in its Brightwood neighborhood, beginning its next step in development of the multi-phase community. Read More Business Observer Florida https://www.businessobserverfl.com/article/builder-opens-two-model-homes-in-new-community

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