Existing-home sales increased in October to their strongest pace since earlier this summer, but continual supply shortages led to fewer closings on an annual basis for the second straight month, according to the National Association of Realtors®
According to a report released today by Associated Builders and Contractors (ABC), the private construction industry’s value added as a percentage of the nation’s real gross domestic product (GDP) rose to 4 percent in 2016, the highest level since 2009. The report also shows annual growth in real construction spending, which rose 3.5 percent in 2016.
The Multifamily Production Index (MPI), released today by the National Association of Home Builders (NAHB), dropped 10 points to 46 in the third quarter of 2017. This is the lowest reading since the second quarter of 2011.
Approximately 20 million Black veterans are eligible to use their G.I. benefits to purchase homes, but may not be aware that homeownership remains the best avenue to begin building wealth. The National Association of Real Estate Brokers (NAREB), the country’s oldest, minority real estate trade group is hosting, nationwide, Homeownership for Veterans events to encourage Black veterans to learn more about the homebuying process and how to take advantage of their G.I. benefits.
NRP-West, CBRE’s West Coast Retail Institutional Group team led by CBRE Executive Vice President, Philip D. Voorhees, announced today the release of its iOS and Android mobile app. “At this dynamic stage of the real estate cycle, the NRP-West team continues to employ a systematic, proprietary database-driven marketing approach to reach the widest array of potential investors,” said Voorhees.
Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, has completed the sale of a recently renovated 44,864-square-foot single-tenant retail property occupied by Planet Fitness. The property is located approximately 13 miles from downtown St. Louis in Crestwood, Missouri. The price could not be disclosed.
DCHFA is opening its doors on Thanksgiving Day to distribute 200 dinners to at risk, homeless families and/or individuals in need of a meal. Dinner will be served by DCHFA staff members and their families who are giving up a part of their Thanksgiving holiday to ensure that others in the community are fed.
Mayor Bowser Launches Campaign to Move 400 Families and Individuals into Permanent Housing During...
Mayor Muriel Bowser and Department of Human Services (DHS) Director Laura Zeilinger announced Home for the Holidays, a citywide campaign to place 400 of the District’s most vulnerable households into permanent housing during the holiday season. The Mayor made the announcement at a lease-agreement signing between landlord and tenant, standing alongside a District resident as she signed the lease for her family’s new home
Forty-one states added construction jobs between October 2016 and October 2017, while 26 states added construction jobs between September and October, continuing a pattern of widespread but uneven growth in industry employment, according to an analysis by the Associated General Contractors of America of Labor Department data released today. The association’s chief economist suggested that recent job gains would have been more widespread if enough qualified workers were available.
On Monday, November 20, at 10:30 am., Mayor Muriel Bowser will officially launch “Home for the Holidays,” a city-wide effort to place 400 of the District’s most vulnerable households in permanent housing during the holiday season. DC Department of Human Services (DHS) soft launched the initiative through social media and landlord outreach on November 15, 2017. This targeted campaign will run through January 15, 2018. According to the 2017 Point-in-Time Count, nearly 7,000 DC residents do not have a place to call home.
The U.S. Department of Housing and Urban Development today awarded $5.024 billion to help hard-hit areas in the State of Texas to recover from Hurricane Harvey. The grant announced today by the Trump Administration is provided through HUD’s Community Development Block Grant – Disaster Recovery (CDBG-DR) Program and will support the repair of damaged homes, businesses and critical infrastructure in the State.
Nationwide housing starts rose 13.7 percent in October to a seasonally adjusted annual rate of 1.29 million units after a slight upward revision to the September reading, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. This is the highest housing production reading since October 2016, when total starts hit a post-recession high of 1.33 million.
The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 4.88 percent of all loans outstanding at the end of the third quarter of 2017. The delinquency rate was up 64 basis points from the previous quarter, and was 36 basis points higher than one year ago, according to the Mortgage Bankers Association's (MBA) National Delinquency Survey.
Granger MacDonald, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Kerrville, Texas, today issued the following statement on tax reform legislation that was approved by the Senate Finance Committee
David H. Stevens, President and CEO of the Mortgage Bankers Association, released the following statement applauding Chairman Mike Crapo (R-Idaho) and a bipartisan group of cosponsors on the introduction of their regulatory relief package