Sales of newly built, single-family homes rose 2.3 percent to a seasonally adjusted annual rate of 454,000 units in April, according to newly released figures from HUD and the U.S. Census Bureau.
Facing increasing costs for building materials and rising concerns about the supply of developed lots and labor, builders registered less confidence in the market for newly built, single-family homes in April, with a two-point drop to 42 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today.
Weyerhaeuser Co. announced the appointment of Adrian Blocker as vice president of Lumber, effective May 1. Blocker will replace Robert Taylor when he retires from the company in May.
The National Association of Realtors says existing home sales have been above year-ago levels for 20 consecutive months, while prices show 12 consecutive months of year-over-year price increases.
Nationwide housing production edged up 0.8 percent to a seasonally adjusted annual rate of 917,000 units in February, according to newly released figures from HUD and the U.S. Census Bureau. This slight upward movement represented gains in both the single-family and multifamily sectors, with single-family housing starts reaching their fastest pace since June of 2008.