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Top related persons:
— - 1 homebuyers - 1 Skillington - 1 Jim Tobin - 1 Brian Abramson - 1 Abramson - 1 Danushka Nanayakkara - 1 Devin Perry - 1
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Service - 2 National Association of Homebuilders - 2 Business - 1 Federal Reserve - 1 Census - 1 Homes - 1 Mortgage - 1 Association - 1

Search resuls for: "Danushka Nanayakkara"


3 mentions found


☆ The housing market is heating back up. But only a small percentage of new homes are fully-built.
  + stars: | 2024-01-25 | by ( Filip De Mott | ) www.businessinsider.com   time to read: +2 min
Read previewNew-home sales rebounded in December, rising 8% as homebuyers rushed to take advantage of falling mortgage rates, US Census Bureau data shows. But while consumers appear eager to re-engage with the housing market, new purchases don't mean an immediate move-in for some. This decline from 8% peak levels in October was spurred by bets that the Federal Reserve would start cutting interest rates. Of that, new homes took on a bigger share of the inventory, as high mortgage rates kept homeowners from selling. Still, NAHB's CEO Jim Tobin separately expects construction and demand to take off in 2024, once consumers realize ultra-low mortgage rates aren't coming back.
Persons: —, homebuyers, Skillington, Jim Tobin Organizations: Service, Business, Federal Reserve, National Association of Homebuilders
☆ Prefabricated home shipments on the rise in a pricey property market
  + stars: | 2023-11-07 | by ( Amina Niasse | ) www.reuters.com   time to read: +4 min
That appears to be boosting demand in the prefabricated housing market, a sector that has lost market share in the past decade. "There's going to be continued interest in prefabricated homes because it's a window to building." As of May, the most recent month for which data is available, the average price of a prefabricated home was $129,900, according to Census data. Most modular construction factories are concentrated in the Mid-Atlantic and Southeast, where modular market share outpaces the national average of 2%, said Devin Perry, executive director of business improvement programs at the NAHB. "This is providing opportunities for modular to grab more market share."
Persons: Brian Abramson, Abramson, Danushka Nanayakkara, Devin Perry, Perry, Amina Niasse, Dan Burns, Andrea Ricci Organizations: Census, Reuters, Homes, Mortgage, Association, National Association of Homebuilders, Thomson
☆ Construction on new homes snaps uptrend, hitting key source of new supply
  + stars: | 2023-07-19 | by ( Filip De Mott | ) www.businessinsider.com   time to read: +2 min
Construction on new single-family homes fell 7% to a seasonally adjusted annual rate of 935,000 units. Multifamily housing starts fell 11.6% to 482,000 units, the lowest since December. Meanwhile, multifamily housing starts dropped to 11.6% to 482,000 units, hitting the lowest rate since December. In fact, new construction made up almost a third of active listings in May, while pending sales of existing homes fell 2.7% month to month. But a drop in US bond yields should offer some relief for mortgage rates and the housing market.
Persons: Danushka Organizations: Service, National Association of Home Builders Locations: Wall, Silicon, Federal
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