Florence's Floods Obscure Damage Inflicted on Carolinas

September 18, 2018
Mark Niquette, Rachel Adams-Heard, & Olivia Carville - Bloomberg

Record-setting, still-rising floods covering much of eastern North Carolina are preventing companies, regulators and environmental groups from making a comprehensive assessment of damage from Hurricane Florence.

Reprinted courtesy of Bloomberg journalists Mark Niquette, Rachel Adams-Heard and Olivia Carville


Smart Cities May Stall, But Smarter Communities Are Surging

September 10, 2018
Tom Sawyer - Engineering News-Record

A vision of the future with smart, efficient, utopian, technology-empowered “smart cities” has gleamed on the horizon for years. The concept offers vague promises that all of a city’s infrastructure and operations will be connecting, communicating and automatically adjusting facilities and services to deliver ever higher levels of satisfaction and efficiency.

Mr. Sawyer may be contacted at sawyert@enr.com


New Homes Look Like a Deal, at Least Compared With Existing Ones

September 5, 2018
Prashant Gopal - Bloomberg

What’s happening to the new-home premium?

The average new home in the U.S. went for $324,467 in June, 28 percent more than the $254,200 price for existing homes, according to data from John Burns Real Estate Consulting LLC. That’s down from a 37 percent gap in 2015 and is the smallest difference since the end of 2010.


U.S. Housing Starts Rebounded in July on Single-Family Gain

August 29, 2018
Sho Chandra - Bloomberg

U.S. new-home construction rose less than forecast in July amid a rebound in groundbreaking for single- and multi-family houses, indicating the industry was trying to regain its footing at the start of the second half.

Key Takeaways
A strong labor market, lower taxes and improved finances are providing support to demand for housing, which indicates that homebuilding will keep expanding, albeit at a slower pace.


Toll Brothers Surges Most Since 2011 on Gain in Home Orders

August 21, 2018
Prashant Gopal - Bloomberg

Toll Brothers Inc. surged after the biggest U.S. luxury-home builder reported rising orders, revenue and backlog, a sign to investors that wealthy buyers are feeling confident enough to make purchases despite talk of a housing slowdown.

The company reported a 27 percent increase in quarterly revenue and an 18 percent gain in signed contracts per Toll housing community. The value of the builder’s backlog at the end of last month was $6.48 billion, up 22 percent and “the highest at third-quarter end in a dozen years,” Toll Chief Financial Officer Marty Connor said in a statement.


P3 Delivers Architect's Original Vision for Gateway Arch Park

August 15, 2018
Jeff Yoders – Engineering News-Record

The largest public-private partnership investment in a national park is delivering a new experience for visitors to the landmark Gateway Arch in St. Louis, which was designed by the late-architect Eero Saarinen. The 10-year path to the opening this month was full of hurdles, including floods. And the project’s 46,000-sq-ft underground visitor center expansion needed to be built without shutting down the arch, which gets nearly 3 million visitors each year.

Mr. Yoders may be contacted at yodersj@enr.com


HomeBuilder Organizations Respond to Trump’s Executive Order for Job Training

August 8, 2018
Beverley BevenFlorez-CDJ STAFF

As part of President Trump’s Executive Order demanding more job training in high-demand industries, “[t]he National Association of Home Builders and the Home Builders Institute promise to train 50,000 in homebuilding careers over the next five years,” according to National Mortgage News. The Department of Labor recently provided guidelines for the “industry-led apprenticeship programs.” National Mortgage News reported that “[t]he next steps for the organizations include obtaining a determination that their apprenticeship practices meet the criteria set forth by the DOL.”


Century Homebuilders to Develop Communities in Florida

July 31, 2018
Beverley BevenFlorez-CDJ STAFF

The Real Deal reported that Century Homebuilders received a “$20 million loan to build four single-family home communities in western Miami-Dade County” from Miami-based FirstBank of Florida. The 92-home construction project includes a 59 single-family home community in West Kendall, two smaller communities in Westchester, and 18 homes near Tamiami. The developer’s president and founder, Sergio Pino, stated that he is focused on purchasing land in Western Miami-Dade County.


Single-Family Home Starts See Growth

July 21, 2018
Beverley BevenFlorez-CDJ STAFF

The National Home Builders Association’s Eye on Housing reported that Single Family Home starts have increased: “NAHB analysis of the Survey of Construction (SOC) shows that, nationally, there were 847,830 new single-family units started in 2017, 9% higher than the units started in 2016.” South Atlantic, West South Central and Mountain Divisions “accounted for about 60% of the total new single-family housing starts in 2017.”


Builder Confidence in July Remains Healthy

July 18, 2018
Beverley BevenFlorez - CDJ STAFF

National Association of Home Builders’ (NAHB) Eye on Housing reported that builder confidence in the newly-built single-family homes market “remained unchanged at a solid 68 reading in July on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).” Builders remain optimistic regarding the housing market, due to continued solid demand for single-family homes.


Lennar Surges After Blowout Quarter Defies Rate, Commodity Fears

July 11, 2018
Lily Katz & Prashant Gopal - Bloomberg

Shares of Lennar Corp. are rallying after the homebuilder reported results that blew past expectations in the firm’s first full quarter since completing its $5.7 billion acquisition of CalAtlantic Group Inc.

Second-quarter revenue and earnings per share both topped the highest expectations, and new home orders surged 62 percent from a year ago, compared with the 55 percent average estimate among three analysts surveyed by Bloomberg.

Reprinted courtesy of Lily Katz, Bloomberg and Proshant Gopal, Bloomberg


Increase in Western States Permits Causes Nationwide Numbers to Surge

July 2, 2018
Beverley BevenFlorez-CDJ STAFF

The National Association of Home Builders’ Eye on Housing reported, in the first quarter of 2018, single-family home permits increased 8.4% over the April 2017 levels. In the year between April 2017 and April 2018, over 30 states featured single-family permit growth, with Colorado recording the highest rate of growth (34.2%). Texas and Florida led the U.S. in number of permits issued, while the lowest came from District of Columbia. According to Eye on Housing, the nationwide increase in permits “ is largely due to the aggregate increase in single-family permits across the Western states. Out of the 13 which are classified as Western states, nine states recorded single-family permit growth exceeding the national average.”


Four Ways to Ensure Equipment Weathers the Storm

June 13, 2018
Ryne DeBoer - Construction Executive

Weather events such as hurricanes and wildfires inflicted $306 billion in damages in the United States in 2017, making it the most expensive year for natural disasters ever recorded. In this environment, fleet managers must protect their equipment year-round to avoid costly repairs and speed up project timelines.

Reprinted courtesy of Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.
Mr. DeBoer may be contacted at info@moreycorp.com


Northwest Builders Add Jobs To Keep Up the Pace

June 6, 2018
Christine Kilpatrick - Engineering News-Record

The Northwest building market remains strong, say industry leaders, as construction employment in Oregon, Alaska and Washington continues to grow, according to the Associated General Contractors.

Ms. Kilpatrick may be contacted at kilpatrickc@enr.com


U.S. Homebuilder Sentiment Rises for First Time Since December

May 30, 2018
Katia Dmitrieva - Bloomberg

Sentiment among U.S. homebuilders rose for the first time in five months as job gains and tax cuts helped keep buyer demand healthy amid rising prices and mortgage rates, according to data Tuesday from the National Association of Home Builders/Wells Fargo.


Texas Leads in Year-Over-Year Construction Job Gains, Experts See Regional Growth Ahead

May 24, 2018
David M. Brown - Engineering News Record

Construction leaders across Arkansas, Louisiana, Mississippi, Oklahoma and Texas are optimistic about regional construction activity moving into the second half of 2018.

ENR staff may be contacted at ENR.com@bnpmedia.com


Builders Seek New Defenses Against Jobsite Fires

May 16, 2018
Jim Parsons - Engineering News-Record

In the early morning hours of April 24, flames ripped through a 180-unit wood-framed apartment complex under construction in Concord, Calif. Fortunately, the site was unoccupied at the time of the fire, which firefighters brought under control by dawn. But the damage was done; the $55-million project was declared a total loss.

ENR staff may be contacted at ENR.com@bnpmedia.com


U.S. Existing-Home Sales Rise as Properties Draw Quick Bids

May 3, 2018
Katia Dmitrieva - Bloomberg

Sales of previously owned U.S. homes rose to a four-month high as buyers, fueled by a solid job market and and tax cuts, quickly snapped up the limited number of available properties, National Association of Realtors data showed Monday.


Solus Says It May Buy Hovnanian Bonds to Cut Loss From CDS

April 11, 2018
Erik Schatzker and Sridhar Natarajan – Bloomberg

Hedge fund Solus Alternative Asset Management is considering an escalation in its battle with Blackstone Group LP over a homebuilder’s controversial debt refinancing.

After suing Blackstone’s GSO credit unit and Hovnanian Enterprises Inc. for engineering a credit-default swaps payout that’s leaving Solus with steep losses, the hedge fund’s CEO, Chris Pucillo, said in a Bloomberg Television interview that he may just buy the builder’s bonds to limit his losses and cut Blackstone’s profit.

Reprinted courtesy of Erik Schatzker , Bloomberg and Sridhar Natarajan, Bloomberg


U.S. Homebuilder Outlook Eases While Hovering Near 18-Year High

March 29, 2018
Shelly Hagan – Bloomberg

Confidence among U.S. homebuilders slipped to a four-month low in March while remaining above historical averages, indicating developers expect demand to withstand rising mortgage rates, according to data from the National Association of Home Builders/Wells Fargo.


Princeton Must Build More Affordable Housing, N.J. Judge Rules

March 22, 2018
Elise Young - Bloomberg

Princeton, one of America’s richest towns, must build more affordable housing, a judge ruled in a decision that may have ripple effects across New Jersey.

The home of Princeton University, the state’s only Ivy League school, must plan for 753 low-and middle-income homes, more than double what the borough had anticipated, according to the March 8 ruling by Superior Court Judge Mary Jacobson. Its wealthy neighbor, West Windsor, has a burden of 1,500 homes for people of little means in a state with high living costs, Jacobson ruled.


Trump’s Tariff Is Forcing Homebuilders to Cut Costs

March 14, 2018
Jen Skerritt - Bloomberg

For the past 18 months, Eddie Martin has been trying to find ways to keep the affordable homes he builds, well, affordable.

About 40 percent of the Texas homebuilder’s framing lumber comes from Canada. The Trump administration slapped punitive tariffs on Canadian softwood timber last year, claiming the industry is unfairly subsidized. The move has driven lumber prices to near record highs. Tilson Home Corp., where Martin is president, has so far refrained from passing on the added costs to homebuyers. To do that, it’s cut back the number of home plans it offers and is considering swapping pricier fir for cheaper Southern yellow pine, even though its tendency to bow in the Texas humidity makes it more difficult for construction crews to work with.


U.S. Pending Home Sales Gauge Falls to Lowest Since 2014

February 28, 2018
Sho Chandra – ENR

A gauge of contracts to purchase previously-owned U.S. homes unexpectedly declined in January to a more than three-year low, reflecting a shortage of inventories and rising mortgage rates, according to data released Wednesday from the National Association of Realtors in Washington.


U.S. Homebuilder Sentiment Remains Near Highest Level Since 1999

February 22, 2018
Shelly Hagan – Bloomberg

Confidence among American homebuilders held steady in February near the highest level since 1999, suggesting that demand for housing is expected to remain strong, according to data Thursday from the National Association of Home Builders/Wells Fargo.



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