Uncategorized Archives - Residential Contractor

Weak Growth Continues as Housing Slows

Weak Growth Continues as Housing Slows The months’ supply of homes for sale that have already been started rose to 7.1; this growing inventory of new homes for sale will reduce single-family housing starts as home builders slow their construction plans due to growing inventories. Read More Fannie Mae https://www.fanniemae.com/research-and-insights/forecast/weak-growth-continues-housing-slows

New Sustainable Community in Utah With Luxury Mountain Homes

New Sustainable Community in Utah With Luxury Mountain Homes Benloch Ranch, a new “sustainable community” in Utah, has homes starting at $1.4 million. Read More Business Insider https://www.businessinsider.com/photos-new-sustainable-community-in-utah-with-luxury-mountain-homes-2022-8#realtorcom-ranked-salt-lake-city-this-may-as-the-1-housing-market-positioned-for-growth-in-2022-followed-by-boise-city-idaho-and-spokane-washington-1

Proposed 2022 Green Building and Local Energy Code Update

Proposed 2022 Green Building and Local Energy Code Update The proposed regulations aim to increase water conservation and reduce water loss, lower embodied carbon in new construction projects, reduce fossil fuel use in buildings, and facilitate electric vehicle adoption… Read More City of Palo Alto https://www.cityofpaloalto.org/City-Hall/Sustainability/Proposed-2022-Green-Building-and-Local-Energy-Code-Update

LEED Zero with Solar + Storage Systems for Hunters Point

LEED Zero with Solar + Storage Systems for Hunters Point Pearl Homes and Sonnen Declare “Electrical Independence” from the National Grid. Read More PR News Wire https://www.prnewswire.com/news-releases/leed-zero-with-solar–storage-systems-for-hunters-point-301580632.html

Mortgage Rates Hit Five Percent for the First Time in Over Ten Years

Mortgage Rates Hit Five Percent for the First Time in Over Ten Years Due to a hot housing market, mortgage rates continue to increase yearly, culminating in the highest mortgage rate since 2011. Read More Builder and Developer Magazine https://bdmag.com/mortgage-rates-hit-five-percent-for-the-first-time-in-over-ten-years/

Consumer Prices Rise in September

Consumer Prices Rise in September The Consumer Price Index (CPI) rose by 0.4% in September on a seasonally adjusted basis, following an increase of 0.3% in August… Read More Eye on Housing https://eyeonhousing.org/2021/10/consumer-prices-rise-in-september/

‘Super-Regional’ Providers Will Shape Next Senior Living Era

‘Super-Regional’ Providers Will Shape Next Senior Living Era Some senior living providers are gaining traction and becoming “super regionals.” Read More Senior Housing News https://seniorhousingnews.com/2021/09/29/super-regional-providers-will-shape-next-senior-living-era/

9/16: MetroIntelligence Economic Update by P. DUFFY

MetroIntelligence Economic Update by P. DUFFY Purchase loan apps rise 8 percent from previous week, but down 12 percent year-on-year The Market Composite Index for mortgage applications increased 0.3 percent on a seasonally adjusted basis from one week earlier, with purchase loans rising 8 percent (but down 12 percent year-on-year) and refinance activity falling 3 percent (and also down 3 percent year-on-year). The average contract interest rate for 30-year remained unchanged at 3.03 percent. https://www.mba.org/2021-press-releases/september/mortgage-applications-increase-in-latest-mba-weekly-survey Consumer Price Index up 0.3 percent in August and 5.3 percent year-on-year The Consumer…

8/24: EconUpdate by P. Duffy

EconUpdate by P. Duffy Existing home sales rise 2 percent in July and 1.5 percent year-on-year Existing-home sales rose 2% on a seasonally adjusted annual rate from June to July, with no sales declines showing in any regions. The inventory of unsold homes increased 7.3% to 1.32 million from June to July – equivalent to 2.6 months of the monthly sales pace. The median existing-home sales price rose at a year-over-year pace of 17.8%. https://www.nar.realtor/newsroom/existing-home-sales-climb-2-0-in-july August PMI Output Index slips to 55.4 as businesses face capacity constraints Adjusted for…

Why Builder Lumber Prices Remain Higher than Headlines Suggest

Why Builder Lumber Prices Remain Higher than Headlines Suggest Lumber futures prices have decreased by 52% (on a front-month basis) over the past seven weeks as mill prices have fallen 48% over the same period… Read More Eye On Housing https://eyeonhousing.org/2021/07/why-builder-lumber-prices-remain-higher-than-headlines-suggest/