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August new-home sales the highest since 2008

Fall officially arrived on Tuesday, but statistics from the summer building season are continuing to pour in. Prepare yourself for some good news. According to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes increased by 18 percent in August. The seasonally adjusted annual rate of 504,000 un...
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Exurbs Contend With Urban Areas By Offering Affordability

You shouldn’t have to scroll very far down to find a Builder Blog story about the rise of urban living. The migration to large metro areas may still be on the rise, but don’t count out exurbs just yet. According to The Wall Street Journal, home values in exurbs — think of towns located in the first ring outside of suburban areas — have remained mostly flat even during the hou...
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Homebuilder Confidence Climbs To Nine-Year High

It’s been nearly a decade since builders were this confident in the market for newly built, single-family homes. Builders’ confidence rose for the fourth consecutive month in September, according to new data from National Association of Home Builders (NAHB). It’s a strong signal that the housing industry is gaining more momentum. To create its NAHB/Wells Fargo Housing Market Index, the a...
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Why Simply Improving Homebuyer Education May Benefit The Housing Market

A major portion of U.S. borrowers thinks it’s harder to get a mortgage than it really is – a misconception that may be hampering home purchases. In a recent a survey conducted by Wells Fargo & Co., the nation’s largest mortgage lender, nearly half of respondents believed that a 20 percent down payment is required – when in reality, that much is not required for many loan programs. Me...
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Tear-downs force zoning regulations to be amended in major cities to preserve neighborhood charm

Across the country, more homeowners who would have in the past chosen suburban living are instead settling in the city. One downside to this urban renaissance: tear-downs. Never mind the sights and sounds of construction in otherwise quiet neighborhoods. In many cases, these demolish-and-rebuild projects have drawn the ire of neighbors and city planners alike as historic, character-drive...
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