Homebuilders

Applications were up 9% compared to July’s total, while the average price for newly built houses hit a record.

U.S. homebuilder sentiment rose in September amid lower lumber prices and strong housing demand.

Single-family home construction also increased across communities of all sizes, but notably in outlying metro areas.

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

But average loan sizes remain near record highs, with summer purchases of new constructions continuing to drive up prices.

Residential construction starts dropped to a three-month low in July, while building permits increased from the prior month due to a pickup in multifamily applications.

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

Confidence among U.S. homebuilders pulled back in July to an 11-month low as builders contend with elevated materials prices and ongoing supply shortages.

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.