Latest Residential construction News

Inflation forces homebuilders to take it slow, raise prices

Sep. 23, 2021 14:20 PM EDT

LOS ANGELES (AP) — Even in the hottest U.S. housing market in more than a decade, new home construction has turned into a frustratingly uncertain and costly proposition for many homebuilders. Rising costs and shortages of building materials and labor are rippling across...

Chinese builder in debt jam says it will make bond payment

Sep. 22, 2021 06:59 AM EDT

BEIJING (AP) — A Chinese real estate developer whose struggle to avoid defaulting on billions of dollars of debt has rattled global markets says it will pay interest due Thursday to bondholders in China but gave no sign of plans to pay on a separate bond abroad. The...

EXPLAINER: Chinese builder’s debt struggle rattles investors

Sep. 21, 2021 16:15 PM EDT

BEIJING (AP) — Global investors are watching nervously as one of China’s biggest real estate developers struggles to avoid defaulting on tens of billions of dollars of debt, fueling fears of possible wider shock waves for the financial system. Chinese regulators have...

US home construction up 3.9% in August after July drop

Sep. 21, 2021 09:37 AM EDT

WASHINGTON (AP) — U.S. home construction rebounded a better-than-expected 3.9% in August with the strength coming in apartment construction. The August increase left home construction at a seasonally adjusted annual rate of 1.62 million units, 17.4% above the pace of a...

California enacts 2 laws to slice through local zoning rules

Sep. 17, 2021 19:58 PM EDT

SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom on Thursday approved two measures to slice through local zoning ordinances as the most populous state struggles with soaring home prices, an affordable housing shortage and stubborn homelessness. He signed the most...

US home prices soar at record pace in June

Aug. 31, 2021 09:27 AM EDT

WASHINGTON (AP) — U.S. home prices jumped by a record amount in June as homebuyers competed for a limited supply of available houses, the latest evidence that the housing market remains red-hot. The S&P CoreLogic Case-Shiller 20-city home price index soared 19.1%...

Homebuyers squeezed out of Las Vegas market head for Pahrump

Aug. 29, 2021 13:14 PM EDT

PAHRUMP, Nev. (AP) — When Teresa Washington was house hunting in the Las Vegas area this spring, she kept striking out at buying a place, no matter how much money she offered. She looked at about 20 homes, and even when she tried to pay $10,000 over the asking price,...

Housing construction slumps 7% in July to 1.53 million units

Aug. 18, 2021 09:31 AM EDT

WASHINGTON (AP) — Home construction fell a sharp 7% in July as homebuilders struggled to cope with a variety of headwinds. The July decline put home construction at a seasonally adjusted annual rate of 1.53 million units, the Commerce Department reported Wednesday. It...

New construction planned at site of fire that killed 165

Aug. 18, 2021 04:03 AM EDT

SOUTHGATE, Ky. (AP) — New construction is slated to begin in northern Kentucky at the site of the former Beverly Hills Supper Club, where only memorials have stood since a fire destroyed the building and killed 165 people in 1977. Ashley Builders Group said in a...

This Week: Walmart, Deere earnings, housing starts

Aug. 16, 2021 01:14 AM EDT

A look at some of the key business events and economic indicators upcoming this week: MIXED RESULTS? Walmart delivers its second-quarter results Tuesday. Wall Street predicts the retail giant’s second-quarter earnings increased...