New Construction News

June new-home sales drop 8.1% month over month

At the same time, the inventory of new homes for sale rose 10.7%, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.

Single-family housing starts fall for fourth month in a row in June 

The pace of new multifamily construction, however, jumped, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.  

Surprise surge in new-home sales in May as median price falls 

New-home inventory rose to 444,000 homes in May from 437,000 homes in April, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.  

Housing starts plunge in May amid uncertain economic conditions 

New-home completions rose during the month, however, with the increased inventory representing a rare bright spot in an otherwise gloomy government report. 

New residential sales fall in April as home prices, mortgage rates continue to climb 

The rate of new single-family home sales fell 16.6% from March’s revised number, while the median sales price jumped to $450,600 from March’s revised median house price of $435,000. 

New-home sales fall again in March 

Low inventory and rising interest rates have reduced prospective homebuyer purchasing power. 

Mattamy Homes acquires 88 acres in Queen Creek to develop neighborhood of 254 homes

The $23.45 million land buy is for a development known as The Quarters at Queen Creek, featuring a planned community of single-family homes.

New-home sales fall again in February 

Affordability and supply-chain issues continued to weigh on the sales of new single-family residences.

New-home construction picks up in February  

“More groundbreaking is welcome news for a supply-starved housing market.” — First American deputy chief economist Odeta Kushi 

High prices, construction bottlenecks crimp new-home sales in January

“Builders are entering 2022 with backlogs that they are having a hard time completing due to material and labor shortages, and new-home prices are sitting near a historic high.” — First American Deputy Chief Economist Odeta Kushi

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