Megan Manata

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Immigrant Share in Construction Sets New Record

Dec 2, 2024 | bdmag.com | Megan Manata

Reflecting the sharp increase in net immigration of recent years, the number of new immigrants joining the construction industry rose substantially in 2022. According to the latest American Community Survey (ACS), the industry managed to attract close to 130,000 new workers coming from outside the U.S. to help with persistent labor shortages.
Flat Conditions for Custom Home Building

Dec 2, 2024 | bdmag.com | Megan Manata

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates relatively flat conditions for custom home builders after a period slight softening of market share due to declining mortgage interest rates. However, post-election stock market gains should support custom building at the end of 2024 and going into 2025. There were 48,000 total custom building starts during the third quarter of 2024.
Private Residential Construction Spending Rises in October

Dec 2, 2024 | bdmag.com | Megan Manata
October New Home Sales Down on Higher Rates

Dec 2, 2024 | bdmag.com | Megan Manata

Steadily rising mortgage rates coupled with ongoing affordability challenges kept many potential home buyers on the sidelines in October. Sales of newly built, single-family homes in October declined 17.3% to a 610,000 seasonally adjusted annual rate, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Home Prices Continue to Decelerate

Dec 2, 2024 | bdmag.com | Megan Manata

Home price growth continued to slow in September, growing at a rate just below 4% year-over-year. The S&P CoreLogic Case-Shiller Home Price Index (seasonally adjusted – SA) posted a 3.89% annual gain, down from a 4.28% increase in August. In addition to tracking national home price changes, the S&P CoreLogic Index (SA) also reports home price indexes across 20 metro areas. Compared to last year, all 20 metro areas reported a home price increase.
Existing Home Sales Rebound in October

Nov 25, 2024 | bdmag.com | Megan Manata

Existing home sales in October rebounded from a 14-year low and posted the first annual increase in more than three years, as buyers took advantage when mortgage rates briefly reached a 2-year low in late September, according to the National Association of Realtors (NAR). While elevated home prices persist due to the lock-in effect, we expect sales activity to increase as mortgage rates moderate with additional Fed easing.
State-Level Employment Situation: October 2024

Nov 25, 2024 | bdmag.com | Megan Manata

According to data from the NAHB, nonfarm payroll employment increased in 21 states in October compared to the previous month, while it decreased in 29 states and the District of Columbia. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by a meager 12,000 in October, following a gain of 223,000 jobs in September. Read More
Families Must Spend 38% of Their Income on House Payments

Nov 25, 2024 | bdmag.com | Megan Manata

In another sign of America’s ongoing housing affordability crisis, the National Association of Home Builders /Wells Fargo Cost of Housing Index (CHI) found that in the third quarter of 2024, a family earning the nation’s median income of $97,800 needed 38% of their income to cover the mortgage payment on a median-priced new home. Low-income families, defined as those earning only 50% of the median income, would have to spend 75% of their earnings to pay for the same new home.
Beazer CEO Allan Merrill is all in on green homes

Nov 12, 2024 | greenhomebuildermag.com | Megan Manata

Skip to content Beazer Homes is leading the way in sustainable construction with a new community in Maryland featuring 19 “Zero Energy Ready” homes.
What’s the Best Time of Year to Renovate?

Nov 6, 2024 | residentialcontractormag.com | Megan Manata

“Weather, cost, holidays and work come into play when thinking about the best time of year to complete a home renovation project.” In this article RenoFi weighs the pros and cons for home remodels for each season. Read more Related

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