Homebuilders

Homebuilders in the Twin Cities had their busiest October in nearly two decades.

Lakewood Ranch, Fla., led the nation in annual housing starts for the third quarter of 2019, according to Metrostudy, a research and consulting firm specializing in U.S. residential markets.

The low inventory of homes on the market has been an issue all year in the area.

New homes are on the upswing across Bakersfield as a shortage of resale properties, combined with financial incentives and creative amenity packages, persuades shoppers to take a second look at some of the city's newest neighborhoods.

Mortgage applications to purchase new homes dropped 8% in September from August, as ongoing uncertainty over interest rate movements and economy likely kept buyers out of the market, the Mortgage Bankers Association said.

New-home construction in September pulled back from a 12-year high though the key single-family category was stable, signaling the housing market is firming amid low mortgage rates and steady demand.

Strong economic trends like an improved employment outlook and rising homebuilder sentiment helped to drive average mortgage rates up 12 basis points from a week ago, according to Freddie Mac.

Homebuilder sentiment climbed to the highest level since February of last year as cheaper borrowing costs and a still-sturdy job market lifted measures of prospective buyer traffic, sales and the demand outlook.

Ask someone looking to rent a reasonably priced apartment in Santa Fe, N.M., to describe their experience and they will likely sum it up this way: Frustrating.

Lower mortgage rates prompted Dallas-Fort Worth builders to ramp up home starts in the third quarter.