Toll Brothers Inc. raised its fiscal full-year outlook as the luxury builder reported stronger-than-expected orders with buyers, starved for inventory of previously owned properties, flocking to newly built homes.

• For the three months through April, purchase contracts rose 30% from the same period a year earlier to 3,041, the company said Tuesday in a statement. Analysts in a Bloomberg survey expected 3,004 orders on average.

THE WOODLANDS, Texas, June 07, 2024 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH) commemorates National Homeownership Month.

Since 2003, LGI Homes has recognized National Homeownership Month every June by promoting the benefits of homeownership and highlighting the Company's unique value proposition to first-time homebuyers.

"At LGI Homes, we are proud to have helped over 70,000 families achieve the dream of homeownership," said Eric Lipar, Chairman and Chief Executive Officer of LGI Homes. "Each year, we commemorate National Homeownership Month by educating buyers on the financial and personal benefits homeownership brings. Despite the current challenges to affordability, we continue to focus our efforts on making homeownership affordable and attainable for buyers across the nation."

Throughout the month of June, LGI Homes will be celebrating its current homeowners by featuring their stories and testimonials and sharing what they love about owning an LGI Home.

About LGI Homes, Inc.
Headquartered in The Woodlands, Texas, LGI Homes, Inc. is a pioneer in the homebuilding industry, successfully applying an innovative and systematic approach to the design, construction and sale of homes across 36 markets in 21 states. As one of America's fastest growing companies, LGI Homes has closed over 70,000 homes since its founding in 2003 and has delivered profitable financial results every year. Nationally recognized for its quality construction and exceptional customer service, LGI Homes was named to Newsweek's list of the World's Most Trustworthy Companies. LGI Homes' commitment to excellence extends to its more than 1,000 employees, earning the Company numerous workplace awards at the local, state and national level, including the Top Workplaces USA 2024 Award. For more information about LGI Homes and its unique operating model focused on making the dream of homeownership a reality for families across the nation, please visit the Company's website at www.lgihomes.com.

Canada is on track to add more newcomers with construction skills than in recent years, an early sign that a targeted immigration program is working — though still not quickly enough to close a massive housing supply gap.

Admissions of permanent residents with trades skills rose 29% from January through March from the average quarterly rate in 2023, according to government data obtained by Bloomberg. If that pace is sustained, Canada will grant residency to some 17,800 skilled construction workers this year.

The increase is solely driven by recent immigration policy changes to bring in more tradespeople to ramp up homebuilding. It’s crucial to Prime Minister Justin Trudeau’s goal to more than double the pace of construction to add 3.9 million homes by 2031 as he tries to calm housing angst and reverse waning popularity.

A Brooklyn neighborhood’s residential development boom is nearing an end, as a condo tower opens at one of the final sites on the Williamsburg waterfront.

Sales begin Wednesday at One Domino Square, a 39-story tower just north of the Williamsburg Bridge. It’s the sole condo offering in the 11-acre (4.5-hectare) complex that Two Trees Management has been building around the historic Domino Sugar refinery, which was converted into offices.

The tower’s debut is the latest step in the transformation of the onetime industrial area, made possible by a 2005 rezoning that cleared the way for construction of some of Brooklyn’s most expensive housing. Earlier efforts in Williamsburg had been focused closer to the Bedford Avenue L train stop, or farther north along the East River. Two of those waterfront projects — Toll Brothers’ Northside Piers and the Edge by Douglaston Development — were finished in 2007 and 2009, respectively.

THE WOODLANDS, Texas, March 27, 2024 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH), one of the nation's largest and most recognized homebuilders, announced today that they have been awarded the prestigious Platinum Builder Award by 2-10 Home Buyers Warranty, recognizing their exceptional leadership, innovation, and excellence in new construction throughout 2023.

The 2-10 Builder Achievement Awards Program distinguishes builders across three tiers: Platinum, Premiere, and Select. LGI Homes earned this award for their leadership in the new-construction industry, for introducing innovative home designs, marketing strategies, and construction technologies. LGI Homes has now received the Platinum Builder Award every year since the program began in 2018.

To learn more about the Builder Achievement Awards Program, visit www.2-10.com/builders-warranty/builder-awards/.

Sales of new homes in the US edged higher in January as builders and buyers capitalized on lower mortgage rates at the start of the year.

Purchases of new single-family homes increased 1.5% to a 661,000 annual pace after the prior three months were revised lower, government data showed Monday. The median forecast in a Bloomberg survey of economists called for a rate of 684,000.

Sentiment among US homebuilders rose to a six-month high in February as buyers continued to take advantage of mortgage rates that have fallen from their October peaks.

The National Association of Home Builders/Wells Fargo gauge of housing market conditions rose by 4 points to 48 this month, according to data released Thursday. That beat the median estimate in a Bloomberg survey of economists that called for a reading of 46.

Barratt Developments Plc has agreed to buy rival Redrow Plc, a deal that would create the UK’s biggest homebuilder.

With the acquisition, Barratt Developments is taking a major bet on the prospects for a rebound in Britain’s beleaguered housing market ahead of a general election. The deal would give Barratt access to a vast land bank at a time when pledges to increase housing output are likely to play a central role in the upcoming general election.

Reprinted courtesy of Damian Shepherd, Bloomberg and Jack Sidders, Bloomberg

A gauge of pending US existing-home sales rebounded sharply in December to a five-month high, suggesting the recent drop in mortgage rates is helping to stabilize the resale market.

The National Association of Realtors’ index of contract signings increased 8.3% to 77.3 after holding at a record low a month earlier, according to data out Friday. Last month’s advance — the largest since mid-2020 — exceeded all estimates in a Bloomberg survey of economists.

The new villain on the seventh season of the hit reality real estate show Selling Sunset wasn’t a sassy new luxury broker not there to make friends. It was a real estate tax.

“Makes me nauseous even thinking about it,” real estate agent Mary Bonnet said of the so-called mansion tax in the season’s first episode, as she surveyed the living room of a $26 million eight-bedroom home in Brentwood.

The tax, known as Measure ULA, was pitched in 2022 as a fix to Los Angeles’ dire housing crisis. Passed by ballot measure with 58% of voters in favor, the measure created a new land transfer fee on real estate transactions over $5 million, and directed the proceeds to affordable housing projects, tenant protections and homelessness prevention efforts.

RALEIGH, N.C., Jan. 03, 2024 (GLOBE NEWSWIRE) -- Harmony Housing Affordable Development Inc. (HHAD), a newly-formed wholly-owned subsidiary of Harmony Housing, is acquiring the property development, development management, and advisory business of Greystone Affordable Development, effective immediately. Harmony Housing Affordable Development Inc.'s mission is to increase and preserve critically needed affordable housing in the U.S., which it has committed to doing through its predecessor's history as a leading affordable housing developer.

Throughout its history, the development group has preserved, redeveloped, and constructed over 16,725 units of affordable housing for families and seniors in both rural and urban areas, helping to address the critically low levels of affordable housing for underserved populations in the U.S. As part of Harmony Housing, the group is now closely aligned with an established owner / operator of similar housing with which the group has partnered in the past.