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MetroIntelligence Economic Update by P. DUFFY   Construction spending up 1.2 percent in April and 7.2 percent year-on-year Construction spending during April 2023 was estimated at a seasonally adjusted annual rate of $1,908.4 billion, 1.2 percent above the revised March estimate of $1,885.0 billion. The April figure is 7.2 percent above the April 2022 estimate of $1,780.9 billion. During the first four months of this year, construction spending amounted to $566.7 billion, 6.1 percent above the $533.9 billion for the same period in 2022. https://www.census.gov/construction/c30/current/index.html   May manufacturing sector index…

KB Home Announces the Grand Opening of Its Newest Community in Popular Hollister, California KB Home (NYSE: KBH) announced the grand opening of Highgrove at Fairview, a new community of one- and two-story homes in popular Hollister, California. The new homes at Highgrove at Fairview are… Read More Eagle-Tribune https://www.eagletribune.com/region/kb-home-announces-the-grand-opening-of-its-newest-community-in-popular-hollister-california/article_ec54e8eb-2f3a-511f-a203-279014a27205.html

New Housing Project Called ‘First of Its Kind’ State and city officials gathered at the O’Brien Farm property last week to break ground on a first-of-its-kind housing development project — one that will be completely free of fossil fuels and will essentially function… Read More The Other Paper https://www.vtcng.com/otherpapersbvt/news/municipal_matters/new-housing-project-called-first-of-its-kind/article_fbba2170-fb04-11ed-bd65-e310d1525722.html

The Making of an Organic Home The Flurs’ new house, in turn, has helped transform the architecture of their neighborhood, a private development called The Sanctuary at Lake Wylie, a man-made reservoir with portions in both North… Read More Mansion Global https://www.mansionglobal.com/articles/their-cookie-cutter-home-wasnt-cutting-it-anymore-so-this-north-carolina-couple-started-over-dc2f2dca

MetroIntelligence Economic Update by P. DUFFY Pending home sales flat in April, down 20.3 percent year-on-year The Pending Home Sales Index (PHSI) remained at 78.9 in April, posting no change from the previous month. Year over year, pending transactions dropped by 20.3%. The Northeast PHSI dropped 11.3% from last month to 59.1, a decrease of 21.8% from April 2022. The Midwest index improved 3.6% to 78.4 in April, down 21.4% from one year ago. The South PHSI increased 0.1% to 99.6 in April, sinking 16.7% from the prior year. The…

Commodities Update: Lumber Prices and Oil Prices Oil and lumber prices are volatile and dependent on changes in supply and demand. When consumers have more discretionary spending and are interested in renovating their homes, lumber… Read More Nasdaq https://www.nasdaq.com/articles/commodities-update:-lumber-prices-and-oil-prices-june-2023

Lack of Resales Provides Boost to New Home Sales in April Stabilizing mortgage rates and a lack of resale inventory provided a boost for new home sales in April, even as builders continue to wrestle with rising costs stemming from shortages of… Read More Eye On Housing https://eyeonhousing.org/2023/05/lack-of-resales-provides-boost-to-new-home-sales-in-april/

An Insider’s Guide to Windows & Doors Because windows and doors greatly affect the interior environment through lighting, thermal performance, acoustics, and air quality, choosing the right products and glass options is paramount… Read More Midwest Home https://midwesthome.com/featured/an-insiders-guide-to-windows-doors/

Multifamily Built-for-Rent Share Remains Elevated According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts remained elevated during the first quarter of 2023. Read More Eye On Housing https://eyeonhousing.org/2023/05/multifamily-built-for-rent-share-remains-elevated-5/