Home builder Lennar expects to close a $650 million private equity fund for its distressed real estate unit this year and open a second fund in 2012.

Davenport, Iowa, and Fort Collins, Colo., are among the 30 housing markets to make NAHB/First American’s Improving Markets Index, which identifies metros that have shown improvement for at least six months. See which markets made the list.

The number of existing homes listed for sale declined last month to the lowest level for September since 2005.

Charter Homes & Neighborhoods garnered a Silver National Housing Quality Award by, among other things, offering timely designs that exactly meet their markets

Economist Paul Emrath of National Association of Home Builders (NAHB) has updated a model he developed that estimates the value various features add to a home.

Builders began work on more U.S. homes than forecast in September on rising demand for apartments and condominiums as more Americans become renters.

Irvine, Calif., officials last week granted final approval for the development of up to 5,000 homes on the old El Toro Marine Corps base. The development has a 10-year timeline and includes more than 500 affordable-housing units.