Woodside Homes Received the Building Industry Association's Highest Accolade of "Build Of The Year" on November 10th

November 21, 2022
Woodside Homes

RIVERSIDE, CA, Nov. 19, 2022 (GLOBE NEWSWIRE) -- Woodside Homes, one of the top 35 homebuilders in the U.S. and a wholly owned subsidiary of Sekisui House, Ltd., has earned the top accolade of "Builder of the Year" by the BIA Riverside County Chapter. The association formally recognized Woodside Homes as the recipient of this honor on November 10, 2022, at the Chapter Awards and Installation, "Celebrating an Industry Built on Resilience," to held at the Riverside Mission Inn.

"Resilience is a driving force of our industry – and more than ever, it defines the strength, determination, and passion behind every Woodside Homes employee and our many consultants and trade partners," said Chris Chambers, President of Woodside Homes, Southern California. "We are deeply honored to be recognized by our homebuilding peers at this year's annual event, where we acknowledge and embrace the power of resiliency within our noble industry."

About Woodside Homes
In 2022 Woodside Homes begins its 45th year in the business of designing and building homes for move-up and entry-level buyers. The company has sold more than 45,000 new homes since its inception and is the 34th largest homebuilder in the United States. Woodside Homes is dedicated to delivering an exceptional experience to every customer and acting as a trustworthy, knowledgeable guide throughout home buying, building, and ownership process.


Sixth and Guadalupe Mixed-Use Tower Tops Out as the Tallest Tower in Austin

November 15, 2022
PR Newswire

AUSTIN, Texas, Nov. 1, 2022 /PRNewswire/ -- Standing taller than any current building in Austin, Sixth and Guadalupe has topped out at its final height of 865 feet. This much-anticipated milestone has been two and a half years of a steady vertical climb and was met successfully, even with a backdrop of skilled labor shortages, a pandemic, and market inflation.

Sixth and Guadalupe is owned and managed by Kairoi Residential, Lincoln Property Company, and DivcoWest. Construction is led by JE Dunn Construction and designed by Gensler.

"To accomplish the top out of Sixth is big for this team and for me personally," said Steve Welton, Vice President, and Project Executive for JE Dunn, and who has been a leader on the project since it was awarded to JE Dunn in late 2017. "This project challenged our team and has truly taught us the meaning of accountability, teamwork, client and design team alignment, and honestly, why we choose to work in construction. I'm so proud of our people."


Two Bright Spots in a Cooling Housing Market

November 7, 2022
Conor Sen - Bloomberg

Surging mortgage rates and uncertainty about the economy have put the housing market on ice. Mortgage purchase applications dropped Wednesday morning to their lowest level in 25 years and single-family housing starts will soon be down 20% on a year-over-year basis. Historically, a drop of more than 20% in single-family housing starts has meant pretty good odds for an overall recession.

Yet the US economy added 263,000 jobs in September. And while the labor market is somewhat cooler from earlier in the year, it's a long way from anything that could be characterized as weak.


Great Place to Work Names Tri Pointe Homes as One of Fortune's Best Workplaces for Women in 2022

November 1, 2022
Tri Pointe Homes

INCLINE VILLAGE, Nev., Sept. 27, 2022 (GLOBE NEWSWIRE) -- Tri Pointe Homes® (NYSE: TPH), one of the largest homebuilders in the U.S., has been recognized as one of the 2022 Best Workplaces for Women™ by Fortune Magazine and Great Place to Work®. This is the homebuilder's third Best Workplaces accolade for 2022—recently being honored as a Best Workplace in Construction™ for 2022 and Fortune's Best Workplaces for Millennials™ for 2022.

In the 2022 Great Place to Work® survey, 95% of Tri Pointe Homes' women employees said Tri Pointe Homes is a great place to work, which is 5% higher than the average for Fortune's 100 Best Companies to Work For.

About Tri Pointe Homes®
One of the largest homebuilders in the U.S., Tri Pointe Homes, Inc. (NYSE: TPH) is a publicly traded company and a recognized leader in customer experience, innovative design, and environmentally responsible business practices. The company builds premium homes and communities in 10 states, with deep ties to the communities it serves—some for as long as a century. Tri Pointe Homes combines the financial resources, technology platforms and proven leadership of a national organization with the regional insights, longstanding community connections and agility of empowered local teams. Tri Pointe has won multiple Builder of the Year awards, most recently in 2019. The company made Fortune magazine's 2017 100 Fastest-Growing Companies list, was named as a Great Place to Work-Certified™ company in both 2021 and 2022 and was selected by Great Place to Work® as a Best Workplace for Millennials™ in 2022 and a Best Workplace in Construction™ company in 2022. For more information, please visit TriPointeHomes.com.


Meritage Homes Releases Second Annual Environmental, Social and Governance Report

October 24, 2022
Meritage Homes

SCOTTSDALE, Ariz., Sept. 29, 2022 (GLOBE NEWSWIRE) -- Meritage Homes (NYSE:MTH), the seventh-largest public homebuilder in the U.S., today announced the release of its second annual Environmental, Social and Governance (ESG) report. The comprehensive review of 2021 covers the Company's sustainability and governance practices, diversity, equity and inclusion (DE&I) efforts, and milestones achieved during the year.

Building off last year's inaugural greenhouse gas emissions inventory, Meritage is the first U.S. public production builder to issue a Task Force on Climate-Related Financial Disclosures (TCFD) report, which outlines the Company's climate risks and opportunities. As an official TCFD supporter, Meritage is aligned with the organization's recommendations to build a more resilient financial system through climate-related disclosure. The Company also included Equal Employment Opportunity (EEO-1) disclosures for the first time in this ESG report, which provides a standardized demographic breakdown of its workforce.

For more information on Meritage's ESG initiatives and to view the full 2021 ESG report and 2021 TCFD report, visit: https://investors.meritagehomes.com/environmental-social-and-governance/....

About Meritage Homes Corporation:
Meritage Homes is the seventh-largest public homebuilder in the United States, based on homes closed in 2021. The Company offers a variety of entry-level and first move-up homes. Operations span across Arizona, California, Colorado, Texas, Florida, Georgia, North Carolina, South Carolina, Tennessee, and Utah. For more information, visit www.meritagehomes.com.


ABC's Contractor Confidence Rebounds; Construction Backlog Indicator Flat in August

October 17, 2022
Associated Builders and Contractors

WASHINGTON, Sept. 13, 2022 (GLOBE NEWSWIRE) -- Associated Builders and Contractors reports today that its Construction Backlog Indicator remained unchanged at 8.7 months in August, according to an ABC member survey conducted Aug. 22 to Sept. 7. The reading is a full month higher than in August 2021.

View ABC's Construction Backlog Indicator and Construction Confidence Index tables and graph for August 2022.

Backlog is down from the levels of the second quarter of 2022 but remains higher than at any point from March 2020 to March 2022. While the CBI reading fell for contractors in the South in August, it remains the U.S. region with the lengthiest backlog.

ABC's Construction Confidence Index readings for sales, profit margins and staffing levels increased in August. The index for profit margins bounced back into positive territory while the sales and staffing level indices remained above 50, indicating expectations of growth over the next six months.


Toll Brothers Co-Founder Robert I. Toll Passes Away, Leaving Unmatched Legacy of Excellence in the Home Building Industry

October 10, 2022
Toll Brothers

FORT WASHINGTON, Pa., Oct. 07, 2022 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE: TOL) (TollBrothers.com), the nation's leading builder of luxury homes, today announced the passing of Robert I. Toll, the Company's Co-Founder, and former Chairman and Chief Executive Officer. He passed peacefully surrounded by his family following a long battle with Parkinson's disease. He was 81. Bob Toll was an iconic industry leader who leaves behind an incredible legacy as a founder of one of the nation's largest home builders and most admired luxury brands.

"We are heartbroken by the passing of our founder, mentor, and dear friend," said Douglas C. Yearley, Jr., Chairman and CEO of Toll Brothers. "All of us who were lucky enough to spend time with Bob have been forever impacted by his huge heart, unique sense of humor, zest for life, and profound intelligence. Bob was a brilliant strategist and an incredible teacher and advisor. His lessons have been indelibly etched over the past half century in the minds of the entire Toll Brothers team and many of the industry's current and future leaders."

ABOUT TOLL BROTHERS
Toll Brothers, Inc., A FORTUNE 500 Company, is the nation's leading builder of luxury homes. The Company was founded 55 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol "TOL." The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, golf course development, smart home technology, and landscape subsidiaries. The Company also operates its own lumber distribution, house component assembly, and manufacturing operations.


Diversity in Construction to be Celebrated by 100,000 People on Turner Jobsites and Offices

October 3, 2022
Turner Construction Company

NEW YORK, Sept. 14, 2022 (GLOBE NEWSWIRE) -- Turner Construction Company is a founding partner of Construction Inclusion Week, which brings members of the construction industry together to advance diversity, equity, and inclusion.

During Construction Inclusion Week, October 18 – 21, Turner will connect with 100,000 people from approximately 9,000 companies who work on its' projects each day. People will come together to learn from one another and renew commitments to take action to maintain a safe and inclusive work environment. Participation in Construction Inclusion Week furthers Turners' efforts to make positive change in the industry for generations of workers to come.

The company has established a 2030 vision to reflect the diverse communities in which we build, and to achieve equal representation at all levels of the company. Reaching the 2030 vision starts with how the company recruits and grows a talent pipeline. Efforts are focused on creating meaningful partnerships, including committing $15 million by 2030 in support of scholarships, grants, pre-college STEM programs and other initiatives. Turner's 2021 Diversity, Equity, and Inclusion Impact Report highlights its' commitments and progress.


US Housing Starts Rise Unexpectedly Though Building Permits Drop

September 26, 2022
Augusta Saraiva - Bloomberg

New US home construction rose unexpectedly in August, though the slowest pace of building permits in more than two years underscores how higher mortgage rates are weighing on demand.

Residential starts increased 12.2% last month to a 1.58 million annualized rate, led by a jump in multifamily projects, according to government data released Tuesday. The pace of starts topped all estimates in a Bloomberg survey of economists.

Applications to build, a proxy for future construction, declined to an annualized 1.52 million units, the fewest since June 2020.


Affordable Housing Developers Look to the White House for Help

September 18, 2022
Kriston Capps & Sarah Holder - Bloomberg

Building new affordable housing has always taken a dizzying combination of funding sources to make the budget pencil out. Now the math has gotten even more complicated, as supply-chain disruptions, inflation and a shortage of construction workers drive costs up and extend development timelines.

“Everything is taking longer,” says Aaron Pechota, executive vice president of development and head of affordable housing at the NRP Group, one of the largest affordable housing developers in the US. “Everything is getting more complex as you add more funding. And that all translates into higher costs, which ultimately translates into less units being produced.”


Tri Pointe Homes Earns 2022 Best Workplace in Construction Recognition From Great Place to Work and Fortune

September 12, 2022
Tri Pointe Homes

INCLINE VILLAGE, Nev., Sept. 07, 2022 (GLOBE NEWSWIRE) -- Tri Pointe Homes® (NYSE: TPH), one of the largest homebuilders in the US, announced today its recognition as a Best Workplace in Construction™ for 2022-2023. Based on an analysis of survey responses from over 25,000 employees from Great Place to Work-Certified™ companies in the construction industry, the award reflects Tri Pointe Homes' people-first philosophy coupled with its proactive approach to addressing several challenges in the construction industry, including labor shortages.

"We celebrate all the great awards our company receives throughout the year and the Best Workplace in Construction™ honor really stands out because of the major pain points the industry has faced and the thoughtful and hard work required to surmount those obstacles," said Tom Mitchell, president and chief operating officer of Tri Pointe Homes. "We will continue to support our team members in every way possible, cultivating a passionate work culture, which is one of the key brand pillars that defines Tri Pointe Homes. But we will also look outward to grow and advocate for our critically important industry, knowing that the efforts we make now will be crucial for its future growth."


Future Builders Sharpen Skills on Rose Parade Float

September 5, 2022
Greg Aragon - Engineering News-Record

The Building Industry Association of Southern California (BIASC) on August 11 unveiled the design for its float that will appear in the 2023 Rose Parade in Pasadena, Calif. The concept for the float was designed by members of the Junior Builders program, a program formed by BIASC in 2019 that engages 10-15-year-old future builders. The float design depicts the past, present and future of homes, while celebrating the BIASC’s 100th year anniversary in 2023.

ENR may be contacted at enr@enr.com


Mortgage Rates in US Drop Below 5% to Lowest Since Early April

August 29, 2022
Prashant Gopal - Bloomberg

Mortgage rates in the US slipped below 5% for the first time in almost four months, giving borrowers a reprieve after this year’s rapid surge.

The average for a 30-year loan fell to 4.99% from 5.3% last week, Freddie Mac said Thursday in a statement. That’s the lowest since early April and the biggest one-week drop since early July.

The decline in rates may help some homebuyers who were priced out this year by the fastest rising borrowing costs in decades. The Federal Reserve’s campaign to curb inflation by driving up its benchmark rate is putting an end to the pandemic housing boom. Sales are now sinking and inventory is starting to climb.


Will Housing Prices Flatten — or Collapse?

August 22, 2022
Jonathan Levin - Bloomberg

Home price appreciation is slowing fast across the country under the weight of higher mortgage rates, with typical property values even falling month-over-month in about a fifth of major metro areas in July. Clearly, the slowdown is necessary if Federal Reserve policy makers are going to cool inflation and restore affordability to the housing market. The challenge is to prevent the deceleration from becoming a collapse, but monetary policy makers have a chance to pull it off, provided unpredictable outside forces cooperate.


Denver Draws Rich Financiers With $12 Million Lofts, $175 Sushi Menus

August 15, 2022
Devon Pendleton - Bloomberg

Statistically speaking, Denver’s economy is on fire. Unemployment has more than halved in the past year, GDP is expected to grow 73% faster in 2022 than the national figure and inflation — even more so than in the rest of the country — is on a tear.

And then there are the intangibles: well-heeled crowds waltzing through the ritzy Cherry Creek shopping district, impossible-to-get reservations at freshly anointed hotspots and queues of gleaming SUVs clogging Interstate 70 en route to the mountains for weekend jaunts.

Yet perhaps nothing is more emblematic of a city transformed by wealth, both homegrown and transplanted, than a 22-year-old penthouse loft for sale overlooking Coors Field. With its blonde wood flooring, black granite counters and corner jetted tub, the 7,204 square-foot (669-square-meter) property evokes a 2000s vibe.


Builders Are Slashing Prices to Sell Homes in Fast-Cooling US Markets

August 7, 2022
Prashant Gopal - Bloomberg

On the edges of US Sun Belt suburbia, the wait lists for new houses are gone. And homebuilders are doing something they haven’t done in years: slashing prices.

The fastest-rising mortgage rates in decades have cooled demand so abruptly in many hotspots that it took the industry by surprise. Builders that were artificially limiting sales and auctioning houses to the highest bidder now have inventory to move.


Record US Homes Under Construction Raise Hope of Inventory Boost

August 3, 2022
Jordan Yadoo - Bloomberg

US housing starts may have fallen to more than a one-year low in May, but a historic pipeline of homes under construction is seen easing an inventory crunch as those projects come to fruition.

The number of homes under construction rose to 1.67 million units last month, the highest in government data back to 1969. Moreover, housing completions rose more than 9% from the prior month to the highest level since 2007.


‘We Need More People’: Trudeau Lacks Workers for His Housing Fix

July 25, 2022
Ari Altstedter - Bloomberg

One of Canada’s biggest real estate developers warned that a lack of skilled workers threatens to derail the country’s effort to tackle its housing affordability crisis.

“We can’t build any more than we built in the last few years,” Michael Cooper, president of Dream Unlimited Corp., a Toronto-based real estate company, said of Canada’s housing industry. “If you want to have more units, we need more people to build.”


Here's How the Government Wants to Disaster-proof Your Home

July 18, 2022
The Associated Press (Freida Frisaro) - Bloomberg

Miami (AP) -- On this first day of the Atlantic hurricane season, federal officials are launching a new initiative to modernize building codes so that communities can be more resilient to hurricanes, flooding, wildfires, and other extreme weather events that are intensifying due to climate change.

Deanne Criswell, the administrator for the Federal Emergency Management Agency, and Ali Zaidi, the deputy national climate adviser to President Joe Biden, discussed the initiative Wednesday during a briefing at the National Hurricane Center in Miami, where recovering from a hit similar to Hurricane Andrew could cost hundreds of billions today.


US New-Home Sales Plunge to Lowest Since Start of Pandemic

July 11, 2022
Jordan Yadoo - Bloomberg

Sales of new US homes plummeted in April by the most in nearly nine years, dented by the combination of high prices and a steep climb in mortgage rates.

Purchases of new single-family homes decreased 16.6% to an annualized 591,000 pace, the weakest since April 2020, government data showed Tuesday. The figure fell well short of all estimates in a Bloomberg survey of economists, which called for a 749,000 rate.


LGI Homes Opens First Community in the State of Maryland

July 3, 2022
LGI Homes, Inc.

HAGERSTOWN, Md., June 06, 2022 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH) today announced the grand opening of Claggetts Mill, the homebuilder's first community located in the state of Maryland. LGI plans to construct 100 single-family homes at Claggetts Mill, which is located in Hagerstown approximately 70 miles from both Washington D.C. and Baltimore. The community's proximity to I-70, Hwy 40 and MD-65 provides residents convenient access to an array of area amenities, including the Hagerstown Premium Outlets, Meritus Medical Center and Antietam National Battlefield.

About LGI Homes, Inc.
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. As one of America's fastest growing companies, LGI Homes has a notable legacy of more than 19 years of homebuilding excellence, over which time it has closed more than 50,000 homes and has been profitable every year. Headquartered in The Woodlands, Texas, LGI Homes has operations across 35 markets in 19 states and, since 2018, has been ranked as the 10th largest residential builder in the United States based on units closed. Nationally recognized for its quality construction and exceptional customer service, LGI Homes' commitment to excellence extends to its more than 900 employees, earning the Company numerous workplace awards at the local, state and national level, including Top Workplaces USA's 2022 Cultural Excellence 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.


Sales of New US Homes Jumped in May, Marking First Gain This Year

June 27, 2022
Reade Pickert - Bloomberg

Sales of new US homes jumped in May, reflecting gains in the West and South and interrupting a months-long skid as the residential real estate market adjusts to rising borrowing costs and still-elevated prices.

Purchases of new single-family homes increased 10.7% to an annualized 696,000 pace, the first gain this year, government data showed Friday. The figure followed an upwardly revised 629,000 in April. The median forecast in a Bloomberg survey of economists called for a 590,000 rate.


What Does Affordable Housing Do to Nearby Property Values?

June 20, 2022
Sarah Holder - Bloomberg

In September 2020, the city council of Alexandria, Virginia, met to discuss whether to move forward with an affordable housing project. On a few acres in the city’s residential West End neighborhood, a developer proposed to build townhouses and condos priced for first-time homebuyers, with a few units reserved for adults with intellectual and developmental disabilities.

Neighbors who lived in the single-family homes nearby showed up to the meeting, and they had questions. One of the biggest: What would happen to their property values?


Looking for Lessons in the Rebirth of a Neglected Toronto Neighborhood

June 13, 2022
Stefanie Marotta - Bloomberg

A new United Nations research hub celebrating lessons in urban rejuvenation has found a home in Toronto’s Regent Park, a milestone for a neighborhood that began as a mid-century “garden city” before suffering decades of neglect and disrepair.

Built after World War II to provide affordable housing for veterans and new immigrants, Regent Park was designed to resemble a rural oasis in Canada’s largest city, with low-rise social housing projects set amidst sprawling green spaces and narrow roads. But the absence of major through-streets discouraged businesses and cut the community off from the downtown core, creating a haven for crime by the 1980s.



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