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
When you see cranes in the sky, you know development is on the rise. San Francisco saw the largest increase nationwide in cranes dotting its skyline between July and October 2017, according to Rider Levett Bucknall (RLB), a property and construction consulting firm. RLB’s most recent quarterly report shows an 18 percent jump in the city by the bay’s crane count, putting it at 26. Largely driven by job growth in the tech industry, constructi
Housing permits, a gauge of new-home activity, slipped in the final quarter of 2017, which could worsen a housing shortage already shaking many markets across the country.Single-family permits are running at only 56 percent of normal activity, according to the National Association of Home Builders/First American Leading Markets Index.“We are concerned with the sluggish permit activity,” says Robert Dietz, chief economist at the National Assoc
When high-end property owners want to spruce up their homes, the renovation projects they tend to gravitate toward include pools, bars, gourmet kitchens, elevators, and amenities suitable for waterfront houses, according to a new study by Homes.com. The real estate portal’s research team culled sales data to analyze how homes vary regionally in terms of features, size, and price.The top three features luxury homes nationwide have in common are
The U.S. Department of Housing and Urban Development is accepting public comments about whether to lift some of its manufactured housing regulations in an effort to help alleviate housing shortages. Comments can be submitted through Feb. 26 at regulations.gov.Manufactured homes are constructed according to code administered by HUD, as opposed to the state, local, or regional regulations that govern stick-built housing. HUD estimates that more
The healthy-home movement is gaining traction, and more builders are offering products to help owners maintain cleaner homes. KB Home announced this week that it will offer door hardware on its new homes that has antimicrobial product protection.KB will be using the door hardware from Kwikset, which manufacturers products with antimicrobial coating that prevents the growth of bacteria. The antimicrobial protection is to be for the lifetime of the
More buyers purchased new homes last year. The sale of newly built single-family homes rose 8.3 percent in 2017 compared to the previous year.“The number of consumers planning to buy a new home in the near future is trending upward,” says Randy Noel, chairman of the National Association of Home Builders. “Inventory remains low, but its growth in 2017 is an encouraging sign. Our members are telling us that market conditions continue to impro
The number of cohousing communities is on the rise across the country and is spotlighting the desire for greater multigenerational neighborhoods. There are currently about 165 such communities but another 140 are in the planning stages, according to the Cohousing Association of the U.S.In these communities, people own their own homes and can sell them. Residents contribute to a fund for maintaining shared facilities.A development called Pioneer
Fewer new homes entered the construction pipeline at the end of 2017, further depressing already low inventory levels in many markets. Housing starts across the country dropped 8.2 percent month over month in December to a seasonally adjusted annual rate of 1.19 million units, the Commerce Department reported Thursday. National Association of REALTORS® Chief Economist Lawrence Yun called the decline “disappointing” but expressed optimism for
Homebuilding is still falling short in many markets in alleviating the shrinking inventories of homes for sale. But builders are blaming the construction shortfall on several factors.Builders revealed the following top 10 “significant” problems they expect to face in 2018, according to the National Association of Home Builders and Wells Fargo Housing Market Index: Cost/availability of labor: 84% Building material prices: 84% Cost/availability
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