Construction spending rose 0.1 percent in June compared with May to a seasonally adjusted annual rate of $836 billion, according to a report released Monday by the U.S. Census Bureau and the Dept. of Commerce. The June figure is 7.9 percent below the June 2009 estimate of $907.7 billion. Residential construction spending declined 0.8 percent [...]

The Pace of home sales at California new-home communities was extraordinarily slow in October, primarily due to the global credit crisis, according to a recent California Building Industry Association report. The monthly CBIA/Hanley Wood Market Intelligence (HWMI) New Home Sales and Pricing Report showed that new home sales in October were 63 percent below October [...]

Housing production continued to decline in September, when 4,364 permits were pulled throughout California, down 32 percent compared with the same month a year ago and down 6 percent from August, according to statistics compiled by the Construction Industry Research Board. Single-family permits totaled 2,326, down 35 percent from September 2007 but up 4 percent [...]

The pace of new home sales across California in August declined 39 percent from August 2007, according to the latest CBIA/Hanley Wood Market Intelligence (HWMI) New Home Sales and Pricing Report released today, representing a significantly smaller decrease than the 57 percent year-over-year decline a month earlier, according to the report. Sales of new single-family [...]

Builder confidence climbed two points to 18 in September, the first increase in seven months, according to the National Association of Home Builders (NAHB). NAHB attributes the increase to recently enacted federal tax credits for homebuyers and lower mortgage rates in the wake of the takeover of Fannie Mae and Freddie Mac. “Builders have several [...]

Builder confidence across the country remained unchanged in March, according new data from the National Association of Home Builders (NAHB) released today, indicating NAHB’s report shows builder confidence gauging current sales conditions for new single-family homes held firm at 20, which just above its historic low of 18 set in December of 2007. The index [...]

The pace of all new home sales in California declined 57 percent in February from February 2006 levels, according to the latest data from the California Building Industry Association (CBIA). A CBIA report showed sales of single family homes dropped by 52 percent in February. Sales of new townhomes and “plexes” declined 48 percent, and [...]

Total construction spending declined 0.3 percent to $1,121.6 billion in February, below the revised January estimate of $1,124.8 billion, the U.S. Dept. of Commerce Department reported Tuesday. Residential construction fell by 0.9 percent to a seasonally adjusted annual rate of $456.9 billion in February, below the revised January estimate of $461.1 billion.