Construction industry

Residential starts rose 3.9% last month to a 1.62 million annualized rate after an upwardly revised July print, according to government data released Tuesday.

The builder was found guilty of stealing over $1 million from home buyers, lenders, businesses and a family member’s special needs trust between 2016 and 2020.

Residential construction was up 27% year over year in July, according to the U.S. Census Bureau.

Sales of new U.S. homes dropped unexpectedly in June to the lowest since April 2020, showing a further weakening in demand against a backdrop of elevated prices and tight supply.

Meanwhile, the average new-home mortgage price climbed to a new all-time high, according to the Mortgage Bankers Association.

A Virginia-based builder announced a line of manufactured housing that features clean energy technology, reduced waste and “plug-and-play” assembly.

After lumber futures skyrocketed to an all-time high in mid-May, prices fell by more than half at the end of June.

Residential starts rose 3.6% last month to a 1.57 million annualized rate, according to government data released Wednesday

The more gradual upward drift in job numbers this year may hint at a slight softening in the market that analysts have flagged.

Purchase contracts for the three months through April surged 85% from a year earlier to 3,487, the builder said in a statement after the close of trading Tuesday.