Sales of new single-family homes dropped for the third consecutive month in February, mostly due to plunges in sales in the Midwest and West, the Commerce Department reported last week. Both regions are seeing a rapid price growth and shortage of homes for sale.The nationwide drop was modest, at 0.6 percent month over month on a seasonally adjusted annual rate of 618,000 units. But new-home sales saw a 17.6 percent drop in the West and 3.7 percen
Some housing economists believe that “granny flats” could be the key to alleviating housing shortages across the country, and they are calling on more municipalities to ease up the rules to allow such dwellings to be built on or into more single-family homes.Nicknamed “granny flats,” these accessory dwelling units tend to be separate, cottage-like structures, but may be a converted garage or basement that houses an extra living area. Some
Home floor plans can take much longer to evolve than design trends. Changes tend to occur over years, as some designers and architects look to push the envelope and take a gamble on what they believe will resonate with buyers. But a few trends are starting to emerge.BUILDER recently weighed in on some of the hottest fads that could impact more floor plans in 2018, including:1. Flexibility for multigenerational households. More homes are being bu
Could more future homes be 3-D printed? A San Francisco–based charity called New Story has partnered with construction technology company ICON to design a 3-D printer for building affordable homes across the globe in developing countries. The company is also showing off its 3-D construction progress in the U.S.The companies have a 350-square-foot home in Austin, Texas, which they are touting as the first 3-D printed house in the country that h
Fifty-eight percent of homeowners plan to spend money on home improvement projects this year, according to a recent survey by LightStream Home Improvement, a national online lending division of SunTrust Banks Inc.Outdoor improvements, including decks, patios, and landscaping, remained highest on owners’ to-do lists for the fifth consecutive year. Interior renovations also are popular: Nearly a third of homeowners say they plan to remodel a bath
Developers have built thousands of senior housing units in many markets, but the glut is outpacing demand and causing the sector to slow, CoStar Group reports. The overbuilding is most prevalent in suburban areas, notes JLL’s Year-End 2017 Senior Housing Investor Survey.More than 10,000 baby boomers turn 65 each day, and many economists predict that senior housing will be a strong market. While the long-term prospects for the sector are strong,
Townhouse construction continues to post gains. Over 2017, townhome starts totaled 104,000, a 7 percent increase over 2016, according to an analysis of U.S. Census Bureau data by the National Association of Home Builders.Further, townhouses or single-family attached housing numbered 29,000 of the starts during the fourth quarter of 2017, which is 21 percent higher than a year ago.The market share of new townhouses accounts for 12.4 percent of all
The new-home market posted some strong gains with more single-family homes and apartments underway at the start of the new year. The U.S. Commerce Department reported a surge in multifamily production and an uptick in single-family home construction in January, up 9.7 percent to a seasonally adjusted annual rate of 1.33 million units.Multifamily production led the way, with a 23.7 percent increase in January, while single-family home production p
Taylor Morrison Home Corp. is allowing home shoppers to have more say in the design of its model homes in Arizona, California, and Texas. Consumers can vote online for design amenities like flooring, cabinetry, paint colors, and countertops. The features that nab the most votes will be built into model homes in the area.Consumers can enter their design picks at www.mymodelhomeproject.com.“This is a chance for home shoppers to truly influence t
Homebuilding giant Lennar Corp. announced it has completed a merger with former rival CalAtlantic Group Inc., creating the nation’s largest homebuilder based on revenues. Both companies’ stockholders this week overwhelmingly approved the actions making CalAtlantic a wholly owned subsidiary of Lennar.“This combination brought together two leading homebuilders in familiar markets with compatible product lines,” says Stuart Miller, CEO of
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