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Sales of newly built, single-family homes declined 13.4 percent to a seasonally adjusted annual rate of 394,000 units in July as higher mortgage rates prompted a temporary pause in buying activity.
Among the hundreds of building products introduced by manufacturers during the past 12 months and featured on the pages of Professional Builder, the readers selected these standouts as the 101 Best New Products.
Builder confidence in the market for newly built, single-family homes rose three points to 59 on the Housing Market Index (HMI) for August. This fourth consecutive monthly gain brings the index to its highest level in nearly eight years.
Nationwide housing starts rose 5.9 percent to a seasonally adjusted annual rate of 896,000 units in July as multifamily construction rebounded from a dip in the previous month, according to figures from HUD and the U.S. Census Bureau.
Don Dykstra, president of Bloomfield Homes (Southlake, Texas), says a recent deal with Sumitomo Forestry provides the builder with confidence to increase leverage.