The percentage of households that owned their home hit its lowest level since 1999. The rate for the July-September quarter remained unchanged at 66.9%. Homeownership reached its peak in 2004, with more than 69% of households owning their home.
Toll Brothers, the largest luxury home builder in the U.S., agreed to a $25 million settlement in an investor lawsuit, Reuters reported. Investors claimed the company overstated its ability to manage to housing slump. Toll Brothers denied wrongdoing in a
The single-family housing market will grow 27 percent in dollars in 2011. That translates into a 25 percent increase in the number units to 565,000, according to the McGraw-Hill Construction Outlook report. Multifamily housing is also expected to increas
A new study from environmental marketing agency TerraChoice found that 95 percent of green claims on home and family products were misleading. Of nearly 5,300 products reviewed, only about 240 were considered “sin free” when it comes to environmental
While the housing market outlook may look bleak on a national level, there are countless success stories of builders that are succeeding in the toughest conditions. We’ve asked two such builders — Michael Maples, co-founder of Trumark Homes, Danville
Owens Corning, a housing materials manufacturer, said its third quarter revenue fell 12 percent to $1.19 billion, Fox Business reported. Wall Street had predicted revenue of $1.26 billion.
North Carolina is considering revising its building code to require new energy-saving measures. Local home builders are protesting the potential changes, saying they would add costs in a tight housing market.
The Concord Group, a California-based real estate strategy firm, predicts that national home sales will improve by early 2012, with annual housing units ramping up to 640,000 by the fourth quarter of 2012. The West Coast has the strongest long-term growt
