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Tagged : new construction

Found 3 blog entries tagged as "new construction". - The aftermath of the housing bust forced many homebuilders to dramatically scale back construction on new homes to avoid the risk of ending up saddled with a trove of newly built, yet unsold properties.

But an improving housing market has homebuilders feeling more confident about sales, and that's likely to kick the pace of new construction into a higher gear this year.

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834 Views, 0 Comments - Builders in the U.S. broke ground on more homes than anticipated in April, indicating the residential real estate industry is stabilizing.

Starts rose 2.6 percent to a 717,000 annual rate from March’s revised 699,000 pace that was stronger than previously reported, Commerce Department figures showed today in Washington. The median estimate of 80 economists surveyed by Bloomberg News called for a rise to 685,000. Building permits, a proxy for future construction, fell from a more than three-year high.

Employment gains, cheaper homes and record-low mortgage rates are combining to lift demand and encourage builders to take on projects. 

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