Share Of Women In Construction At An All Time High

The Federal Reserve cut its benchmark rate by a quarter percentage point on Wednesday at the end of a two-day meeting in Washington, D.C., in a bid to keep the longest economic expansion in U.S. history from petering out. It was the first reduction since the financial crisis more than a decade ago. Central bankers also said they would halt the unwinding of its $3.8 trillion of Treasuries and mortgage-backed securities in August, earlier than expected.

Homeowners continue to flee pricey cities for more affordable metros, with Phoenix, Sacramento, Atlanta and Las Vegas among the destinations that are  searched the most  online, according to data from  Redfin . In the second quarter of 2019, 25% of Redfin users searching for homes were looking to move to another city, up 1% from the previous year. Phoenix had the most amount of inflow, meaning more people were looking to move into the town rather than out. In Q2, 8,208 site users looked for a home in Phoenix, with 33.7% of those living in another city, mostly in Los Angeles. The median home price in Phoenix was $280,000 and the share of searches focused on that area was 66.3%, Redfin revealed. “Every buyer that I have helped to purchase a home recently has been from out of state,” said Phoenix-area Redfin agent Heather Corley. “In addition to the usual interest from California transplants, we’re seeing a lot of buyers coming from Chicago and Seattle, too. Usually the Phoenix

Homebuilders are stepping up to the plate and becoming landlords in the latest growing housing industry trend. According to  CNBC , more and more single-family homes are being  built just to be rented  out.  Nearly a decade ago, there was a foreclosure crisis. Realtors were buying old houses and flipping them. Now, the strategy is to buy new and rent out. This trend allows investors to buy newly built homes and continuously rent them out instead of selling again. This transformed the typical single-family rental into an ever-growing, large-scale class.  Homebuilders are now catching onto the trend and building homes for rent, rather than building to sell. The cost of labor on top of the cost of land, materials and other things, make it hard to profit off the sale of a new build.  So, they turn to renting. Developers are now building entire communities of detached, single-family homes specifically built to rent. Toll Brothers , a luxury homebuilder,  recently announced  its

This month, the United States  set a record  for the longest economic expansion, but this is forecasted to end in 2020.  According to a  panel  of more than 100 housing experts and economists, the next recession is expected to hit in 2020. A f ew even said it may begin later in 2019, while another substantial portion predict that a recession will occur in 2021. But unlike last time, the housing market won't be the cause. Trade policy, a geopolitical crisis and/or a stock market correction were the identifying factors found by the panelists to cause the recession. But that doesn't mean that housing will be immune to the effects of a recession. "Housing slowdowns have been a major component, if not catalyst, for economic recessions in the past, but that won't be the case the next time around, primarily because housing will have worked out its kinks ahead of time," said Skylar Olsen,  Zillow  director of economic research.  Even if a housing slowdown won’t

Real GDP increased at an annual rate of 2.1% in the second quarter, compared with a gain of 3.1% in the first quarter, according to the advanced estimate from the Bureau of Economic Analysis. Today’s second-quarter advance estimate is based on incomplete source data that is subject to further revision and will be followed by a second estimate, due to be released in August. The increase in real GDP in the second quarter reflected positive contributions from federal government spending, personal consumption expenditures and state and local government spending.   These were partly offset by negative contributions from exports, private inventory investment, nonresidential fixed investment and residential fixed investment. Notably, imports increased in percentage. Current-dollar GDP increased 4.6%, or $239.1 billion, in the second quarter to a level of $21.34 trillion. This is up from the first quarter’s 3.9%, or $201.0 billion. The gross domestic price purchase index increased 2.2

The YIMBY movement is definitely on to something: In many parts of the world it is too difficult to build new housing. The result is that lower-income individuals are priced out of some of the world’s most productive cities, such as San Francisco and London, because of exorbitant rents. That’s true as far as it goes. Still, there is the question: What can be done to bring about more housing? Homeowners, who may fear additional construction will damage their quality of life, aren’t always on board with the YIMBY movement (it stands for “Yes In My Back Yard,” in contrast to the more common anti-development “Not In My Back Yard” movement). The primary strategy of YIMBY forces to date has been to try to take regulatory authority for construction away from the local level, as California’s proposed bill  SB 50  would by allowing the state to pre-empt some local restrictions. Japan has a  good record  for allowing new construction, backed by a strong national and weaker local system of

n June, existing-home sales  reversed course  from last month, sliding nearly 2% in total sales gains, according to the latest report from the  National Association of Realtors. Total existing-home sales – completed transactions that include single-family homes, townhomes, condominiums and co-ops – fell 1.7% from May to a seasonally adjusted rate of 5.27 million in June. Sales were 2.2% below June 2018’s rate. NAR Chief Economist Lawrence Yun said the nation is in the midst of a  housing shortage  and much more inventory is needed. “Imbalance persists for mid-to-lower priced homes with solid demand and insufficient supply, which is consequently pushing up home prices,” he said. The median existing-home price for all housing types increased to an all-time high at $285,700, a gain of 4.3% from last June’s rate of $273,800. This marks the 88th straight month of year-over-year gains. Total homes available for sale increased from May, rising from 1.91 million existing homes on

It keeps getting more expensive to live in the U.S., as new data shows that both rent and home prices are continuing to climb. Rent values in the U.S. have continued to rise over the last nine months, according to new analysis from  Zillow .  Zillow's new report states that the median rent value in the U.S. increased 3% in June on an annual basis, up to $1,483. A surge in new apartment supply over the past few years that halted rent growth for much of 2018 has slowed down, with rent growth re-accelerating throughout the first half of 2019. Zillow says the typical U.S. home is worth $227,700, up a little more from May after month-over-month values dropped for the first time in seven years this spring.  According to the Zillow report, there were 12,128 fewer homes for sale in June 2019 than there were in June 2018. This may be a sign that housing markets are beginning to stabilize as opposed to facing a downfall. "After years of declines, inventory appears to have l

Just over half of Americans can afford an entry-level home as affordability issues continue to plague the nation’s housing market, and the situation is creating a robust opportunity for rentals. Only 54% of Americans can afford a home priced at 20% of the median home price in their area, according to a study of 130 metros by  John Burns Real Estate Consulting , which called that benchmark a reasonable proxy for an entry-level home. But while this figure seems bleak, the report noted that affordability is improving, increasing 3% thanks to a  recent drop  in mortgage rates. “The plunge in mortgage rates has created homeownership possibilities for 2.7 million more households as well as move-up possibilities for current homeowners with enough equity,” the analysts wrote. “This will spur home-buying activity this year, possibly averting the decline in volume we have been forecasting.” The report called out California for its abysmal affordability rate, as only 34% of its residen

1. Seamless Built-In Storage This colorful Seattle bathroom squeezed four deep and wide drawers between its sinks. By sectioning off one long vanity into two distinct parts with the same countertop, designer Vered Mizrahi of  Very Red Design  and the team at  Lux Design Builds  maximized the usable surface space and storage while keeping things feeling cohesive. Clean and minimal vanity door panels create a modern look, and vanity legs introduce a more spacious, floating feel. The roomy drawers and cabinets are designed to accommodate large or small accessories. Studio Steinbomer 2. Dual-Purpose Divider Architect Jed Duhon of  Studio Steinbomer  and his team collaborated with the homeowners in designing this polished Carrara-marble-topped double vanity. Along with interior designer  Amity Worrel & Co. , they went through a few different iterations of the design, including centered sinks with individual side towers and different drawer and door configurations for the

Homeowners are spending more to improve their homes, not necessarily on home maintenance. Homes may be aging in the U.S.,  but don’t assume the age of a home is prompting more spending. A new report from HomeAdvisor, a home remodeling resource, finds that homeowners spent $3.70 less for every year since a home was built. That means the owner of a 100-year-old home could spend an average of $370 less on emergency home projects per year than the owner of a new home, the study notes. Researchers say the growing cultural focus on design aesthetics and quality of life as well as newer and better home improvement tools may be leading to the uptick in home improvement spending. Room remodels have been the most popular home improvement projects, with bathrooms topping HomeAdvisor’s list. Homeowners also are prioritizing new appliances, roof replacements, and hardwood refinishing. Overall, owners spent an average of $9,081 on home improvement, maintenance, and emergencies for 2018, acc

LOS ANGELES (July 17) – After rebounding in May, California home sales fell below the benchmark 400,000 level in June as sales declined from both the previous month and year, the  CALIFORNIA ASSOCIATION OF REALTORS ® (C.A.R.)  said today.  Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 389,690 units in June, according to information collected by C.A.R. from more than 90 local REALTOR ®  associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2019 if sales maintained the June pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales. June’s sales figure was down 4.2 percent from the 406,960 level in May and down 5.1 percent from home sales in June 2018 of 410,800. Sales fell below the 400,000 benchmark again after rebounding in May. Sales have been under the benchmark for 10 of

The median price of single-family homes in the U.S. has climbed to a record high, reaching $266,000 in the second quarter. That’s up 10.8% from the previous quarter and up 6.4% from a year ago, according to the latest  report  from  ATTOM Data Solutions . Median home prices in 89% of the 149 metros analyzed in the report saw price appreciation gains in Q2, the report showed. Those with the greatest increases were Atlantic City, New Jersey (up 16%); Boise City, Idaho (up 14%); Chattanooga, Tennessee (up 13.9%); Mobile, Alabama (up 11.2%); and Madison, Wisconsin (up 10.8%). Moreover, 74% of the metros analyzed saw median home prices climb above their pre-recession peak. “As warmer weather brings a rush of house hunters to the market, the latest spike in median home prices marked the largest quarterly increase since the second quarter of 2015 and the third biggest increase since the market started climbing out of the Great Recession in 2012,” said Todd Teta, ATTOM’s chief pro

Although homebuilder confidence  inched forward  one point to 65 in July, many builders still report rising construction costs as a major cause of concern, according to the  National Association of Home Builders / Wells Fargo  Housing Market Index. “Builders report solid demand for single-family homes,” NAHB Chairman Greg Ugalde said. “However, they continue to grapple with labor shortages, a dearth of buildable lots and rising construction costs that are making it increasingly challenging to build homes at affordable price points relative to buyer incomes." In July, the index measuring current sales conditions inched forward from 71 to 72 points, while buyer traffic rose from 47 to 48. Additionally, expectations over the next six months rose from 70 to 71 points.  The three-month moving averages for regional HMI scores show the Northeast held steady at 60 points, the South moved one point from 67 to 68, the West also increased one point to 72 points and the Midwest retre

The homeownership rate for Hispanics has jumped in recent years, a fact that could buoy the housing market for years, according to a recent Wall Street Journal  article . Just three years ago, the homeownership rate for this group had fallen to a 50-year low. But now, recent Census data shows that it has risen 3.3% since then, surpassing the overall homeownership growth rate of 1.3%. And, while Hispanics comprise just 18% of the population, they accounted for about 63% of homeowners gains in the last 10 years, the article states. The article attributes the spike to gains in income and education among this demographic, as well as a familiarity with the U.S. mortgage market and a large population of Millennial homebuyers. The WSJ highlights the fact that Hispanics and other minority groups were hit especially hard when the housing market went bust more than a decade ago, and that some groups, like African Americans, have had trouble rebounding. Hispanics and other minority g

Linear Lighting There’s a trend toward the more extensive integration of lighting with modern hardscape elements. Sleek, minimalist linear step lighting illuminates a path while keeping light fixtures hidden from view. It also enables you to more easily highlight an architectural feature, such as stairs or a freestanding wall.  ZEN Associates, Inc. Laurie Ghielmetti Floating Structures Another trend is placing lights beneath landscape structures, creating the illusion that they are floating-- light is hidden to visually float steps, benches, bridges and other outdoor landscape elements. dSPACE Studio Ltd, AIA BEGA North America Sleek, Modern Fixtures A big trend is to use path lights that look more architectural, rather than the traditional flower or mushroom shapes. Pistils Landscape Design + Build Nightfall Landscape Lighting Low-Voltage Lighting While low-voltage lighting is not necessarily a new concept, man