Construction industry

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.

While elevated prices are acting as brake on demand, mortgage rates near historic lows and elevated backlogs suggest steady residential construction gains in coming months that will help contribute to economic growth.

Companies are facing delays for everything from sheet rock to cabinets and kitchen appliances and as a result, homes are taking about a month longer to build.

U.S. housing starts fell by more than forecast in April, suggesting that supply-chain constraints and rising materials costs continue to hold builders back.

While home sales have softened since October, they are still above pre-pandemic levels, indicating that construction activity will remain strong for some time.

Stuck between local zoning hurdles and a lack of ideal federal financing, ADUs could be an important aspect to unlocking much-needed inventory.

But building permits near an almost 15-year high point to further gains in home construction in the months ahead. The data coincide with still-elevated homebuilder sentiment as the industry works to replenish lean inventory and meet housing demand.

Single-family starts rose for a seventh month to a 1.186 million annualized rate that was the highest since 2007.

New-home construction maintained its momentum in October while possible site shutdowns loom.

With the real estate market in desperate need for more housing stock, some industry leaders are pinning their hopes on governmental policies to make building more affordable. But how the two presidential candidates may approach these issues varies greatly.

With record low mortgage rates driving buyer demand, home sales and prices spiked in September, shrinking the supply and days on market, according to Remax.

A gauge of builder sentiment climbed to 85, the highest in records back to 1985, from 83 a month earlier, according to the National Association of Home Builders/Wells Fargo Market Index released Monday.

After an annual gain in July, newly constructed home listings tumbled in August as coronavirus complications caused the largest inventory drops on record, according to Redfin.

The number of new housing permits issued in Connecticut communities in July rose 10.2% over the same period in 2019, officials with the state Department of Economic and Community Development said.

The housing market reaped the rewards of new construction increasing before the coronavirus took effect, netting a boost in July sales, according to Redfin.

As the coronavirus reshapes urban life — and prompts businesses to rethink where they want to be — a pair of California real estate investors are pushing what might seem like an unlikely vision for the future.

As social distancing related to the coronavirus complicates work for appraisers, real estate agents and construction lenders, professionals turn to technology and, in some cases, ask consumers to pitch in.

Nonbank mortgage employment fell in January, but could subsequently surge as lenders seek to capture business while rates are low, the job outlook is favorable, and the coronavirus is contained.

Unexpected rate drops and other factors drove a surprising rebound in nonbank mortgage hiring during what is usually a slow season.