Three states -- Florida, Texas, and California -- were responsible for nearly a third of all the new dwellings built in 2005, according to the California Building Industry Association.Builders in the Sunshine State produced 287,250 units, including 209,162 single-family houses. Texas builders put up 210,611 units, of which 166,178 were single-family. In California, builders started 208,804 units, including 154,961 one-family dwellings. But it wasn't enough to meet the state's needs, the CBIA said, which is why California's ownership rate is the second-lowest in the country. Production in the Golden State wasn't evenly distributed, either. Of the 535 cities and counties in California that issued building permits in 2005, 6% accounted for half the approvals. Sixteen jurisdictions issued no building permits at all in 2005 for homes, condominiums, or apartments, the builder group reported. Fifteen places issued just one permit, and a handful of others issued five or less.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A labor shortage is costing the market tens of thousands of new homes per year, and tariff uncertainty is adding thousands of dollars in expenses per unit.
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The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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The 10 basis point decline in the 30-year fixed mortgage was the most since March and the first time rates are below 6.7% since April, Freddie Mac said.
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The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
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