Latest Residential construction News

FILE - In this Jan. 10, 2020, file photo trader Gregory Rowe works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Friday, Jan. 17 (AP Photo/Richard Drew, File)

Tech, communications stocks push US indexes to more records

Jan. 17, 2020 5:05 PM EST

Wall Street capped a milestone-setting week Friday with a few more as modest gains nudged the major stock indexes to all-time highs. The benchmark S&P 500 index also notched its second-straight weekly gain. Technology stocks powered much of the market's broad gains, along with communication services companies...

FILE - In this Oct. 2, 2019, file photo, a carpenter works on a construction site in North Andover, Mass. On Friday, Jan. 17, 2020, the Commerce Department reports on U.S. home construction in December. (AP Photo/Elise Amendola, File)

US housing construction jumps 16.9% in December

Jan. 17, 2020 9:11 AM EST

WASHINGTON (AP) — Construction of new homes surged in December to the highest level in 13 years, capping a year in which falling mortgage rates and a strong labor market helped lift the prospects of the housing industry. The Commerce Department reported Friday that builders started construction on 1.61...

In this undated photo provided by TRI Pointe Group the company's CEO Doug Bauer poses for a photo. Bauer spoke with The Associated Press about the trends that are driving the U.S. housing market now and likely to shape it in the next few years. (TRI Pointe Group via AP)

Insider Q&A: Doug Bauer, CEO of homebuilder TRI Pointe Group

Dec. 29, 2019 8:30 AM EST

LOS ANGELES (AP) — After a sluggish start to the year, the market for newly built U.S. homes is on track to end 2019 on a solid note. Sales of new U.S. homes have climbed 9.8% through the first 11 months of this year versus the same period in 2018. The increase largely reflects a steady decline in mortgage...

FILE - In this June 19, 2019, file photo a worker carries shingles for a roof of a house under construction in a Brandon, Miss., neighborhood. U.S. homebuilder stocks have been on a tear this year, with most individual companies on track to close out 2019 with gains well ahead of the broader market. (AP Photo/Rogelio V. Solis, File)

Housing market trends could extend builder stocks' big gains

Dec. 19, 2019 4:34 PM EST

LOS ANGELES (AP) — U.S. homebuilder stocks have been on a tear this year, with most individual companies on track to close out 2019 with gains well ahead of the broader market. A combination of lo w mortgage rates, a strong labor market, rising wages and the lowest unemployment rate in a half century have...

FILE - In this Sept. 3, 2019, file photo a sign rests near a piece of earth-moving equipment, left, on a plot of land, in Westwood, Mass. On Tuesday, Dec. 17, the Commerce Department reports on U.S. home construction in November. (AP Photo/Steven Senne, File)

US housing construction increases 3.2% in November

Dec. 17, 2019 8:53 AM EST

WASHINGTON (AP) — Construction of new homes rose again in November while applications for building permits rose to the highest level in 12 years, both encouraging signs of a rebound in the housing market. The Commerce Department said Tuesday that builders started construction on a seasonally adjusted...

FILE - In this Oct. 22, 2019, file photo a sign stands outside a home for sale in southeast Denver. On Thursday, Dec. 5, Freddie Mac reports on this week's average U.S. mortgage rates. (AP Photo/David Zalubowski)

US long-term mortgage rates steady; 30-year loan at 3.68%

Dec. 5, 2019 1:33 PM EST

WASHINGTON (AP) — U.S. long-term mortgage rates held steady this week amid mixed signs in the housing market. Rates remain at historically low levels as a lure to prospective homebuyers. Mortgage buyer Freddie Mac said Thursday that the average rate for a 30-year fixed-rate mortgage was unchanged from the...