Real Estate Wire/Green Trends News Wire

The new NMHC Construction Quarterly Survey found that a majority (89 percent) of respondents reported experiencing construction delays, and, of those experiencing overall delays, 85 percent reported delays in both starts and permitting. *** Since almost the beginning of the pandemic, the NMHC Construction Survey has proven to be an invaluable tool for informing policymakers and industry leaders about the conditions facing multifamily development. Now, at a time of surging housing demand, NMHC has launched a new, evolved version of the Survey that will continue to track challenges that have persisted beyond the pandemic and delve into new areas as well.   The first iteration of the new NMHC Construction Quarterly Survey found that problems that first originated during the pandemic continue to impact the construction industry through supply chain obstacles and ongoing delays related to issues with staffing to permitting and entitlement.   “Our nation is currently facing deep hou...

The single-family housing market continued to show signs of softening in March as permits and starts declined due to rising mortgage interest rates and ongoing supply chain bottlenecks that continue to delay construction projects and raise home building costs. Due to strong multifamily production, overall housing starts increased 0.3% to a seasonally adjusted annual rate of 1.79 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The March reading of 1.79 million starts is the number of housing units builders would begin if development kept this pace for the next 12 months. Within this overall number, single-family starts decreased 1.7% to a 1.20 million seasonally adjusted annual rate. The multifamily sector, which includes apartment buildings and condos, increased 4.6% to an annualized 593,000 pace. “Higher mortgage interest rates and rising construction costs are pricing buyers out of the market, and these higher...

Central Valley homebuilder San Joaquin Valley Homes (SJV Homes) has been recognized with the coveted “Builder of Choice Award.” The national award was earned through the supportive votes from its partnering subcontractors. The annual award by Builder Partnerships was created to recognize home building companies that have developed strong, lasting relationships with suppliers and trade contractors in their markets. In a survey created specifically for the award and responded to by trade professionals from across the country, SJV Homes received an overall score of 93% with its highest mark going to the category, “Willingness to Listen.” “We are so thrilled to be acknowledged with this award by our building partners,” said Joe Leal, co-founder of SJV Homes. “Every day we are keenly aware of how hard we all work and the quality homes we build for this expanding region of Central California. But being recognized based on the satisfaction of our subcontractors is real validation.” In a lette...