Vinyl siding and stucco were the most common exterior materials used on new homes last year, according to the Census Bureau’s Survey of Construction report. Vinyl siding was used on 27 percent of new homes in 2017, followed by stucco at 25 percent, brick or brick veneer at 21 percent, and fiber cement siding at 20 percent. Stone, rock, or other stone materials were used on just 1 percent of homes.The materials used can vary quite a bit by regio
Builders worked to add more single-family homes to many inventory-starved markets last month. Housing starts nationwide climbed 9.2 percent in August, reaching a seasonally adjusted annual rate of 1.28 million units, the Commerce Department reported Wednesday.Broken out, single-family starts rose 1.9 percent to 876,000 units, while the multifamily sector—which includes apartment buildings and condos—accounted for the biggest part of the uptic
Builders are being forced to raise home prices and are having a more difficult time meeting project deadlines because of the ongoing labor shortage in the construction industry, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index. Eighty-four percent of builders say they have had to pay higher wages to subcontractor bids, 83 percent say they have had to raise home prices, and 73 percent say they can't co
Home buyers will have a harder time finding a big yard, as lot sizes remain near record lows, according to the U.S. Census Bureau. Among sold properties in 2017, the median lot size for a new, detached single-family home was one-fifth of an acre, or 8,560 square feet. Median lot sizes fell below 8,600 square feet in 2015 for the first time since the bureau started recording such data.Lot sizes vary regionally, and the nation's largest tend to be
More builders are outfitting newly constructed homes with smart-home technology, and many buyers say they’ll pay extra for it, according to research from John Burns Real Estate Consulting. Sixty percent of home shoppers say they’d spend more on a home with a smart thermostat, the consulting firm’s survey of more than 23,000 shows. Slightly more—67 percent—say they’d pay extra for an oversized kitchen.More than 60 percent of new-home b
Why are hospitals getting into the real estate business? Growing research has pointed to a link between living in areas of concentrated poverty and health. Hospitals are hoping by making a difference in how some residents in the community live, they’ll also be able to improve their health too.“It’s remarkably frustrating as a physician to see patients over and over and over again from these very high-risk communities,” Dr. Kelly Kelleher,
Alliance Residential Company, one of the largest multifamily developers and managers in the U.S., is rolling out a new initiative to outfit 25,000 luxury apartments across the country with smart-home technology through partnerships with Google, Nest, and Dwelo, among others. “We wanted to ensure that from the moment our residents move in, they are able to control multiple aspects of their home—access, climate, and lighting—from a single, si
Homebuilding eked out a slight increase in July, but economists say it’s still not nearly enough to catch up with home buyer demand or to help cool rising home prices. The Commerce Department reported Thursday that total housing starts for both single-family homes and multifamily building rose 0.9 percent last month to a seasonally adjusted annual rate of 1.17 million units. This was following a nine-month low in June of 1.16 million.Homebuildi
Summer can be a popular time to remodel a home. Calling in the professionals may help ensure the job is done right and satisfactorily to help boost a home value, too. For homeowners looking to spruce up their digs, Rae Duncan of Rae Duncan Interior Design in Chicago offers some of the following tips to help buyers and sellers choose the right interior decorator and contractor:1. Sellers should choose a designer who not only can aid the inside of
The construction cranes dotting the skylines of major North American cities are largely working on residential projects, according to the July 2018 Crane Index report by Rider Levett Bucknall, the international property and construction consultancy. The data released this week also shows the national tower crane tally is climbing. There were 423 construction cranes counted in July 2018, a more than 10 percent increase from to the 383 cranes cou
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