Contracts for new home sales expanded by 2.9% in May to a 610,000 seasonally adjusted annual rate, according to estimates from the joint data release of HUD and the Census Bureau. The report also noted a strong upward revision for the April rate of sales, increasing from a 569,000 annual pace to 593,000. The growth in sales continues along a positive trend for the market, which is supported by solid job growth, improving household formations, continuing favorable housing affordability conditions and tight existing home inventory.
Read more at NAHB Eye On Housing
In the second quarter of 2017, lenders saw increased competition and decreased purchase demand in the housing market. However, lenders also said they have eased credit standards recently and expect further easing in the coming months, giving a slightly more optimistic outlook on the upcoming quarter.
Read more at HOUSINGWIRE
What do these numbers tell us? Well, for home building and development, it may help to see data sets that indicate clearly that opportunity in the 55+ category is not limited to America’s “Smile State” geographies, and this is likely to be ever more the case as Baby Boom generation folks reach retirement and choose to stay in closer proximity to children and grand children.
Read more at BUILDER
Net-zero-energy homes, which rely on high-performance windows to reach efficiency goals, are currently a small, specialized niche in the overall North American housing market. However, it’s one that’s starting to show solid growth, according to a new report from the Net-Zero Energy Coalition.
Read more at DWM