New Home Sales at Highest Pace Since 2008

According to a new report from the National Association of Home Builders (NAHB), the pace of sales of newly built, single-family homes increased 11.6% in December to a seasonally adjusted annual rate of 481,000 homes, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This is the highest monthly sales rate since June of 2008.

After a slow start to the year, new home sales for 2014 totaled 435,000, a slight increase over 2013. The inventory of new homes for sale rose to 219,000 in December, a 5.5-months’ supply at the current sales pace. Inventory has been rising with homebuilder confidence as production increases to meet rising demand.

Read the full article at NAHB here.

 

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Renovation5 min

Tips on Re-Siding in Historic Districts

If you own a home in a historic district, you can forget about replacing the existing siding with vinyl. Most historic districts require replacement siding to closely match the original, hence wood (or engineered wood) and brick. Understanding home building regulations based on historic overlays can help eliminate the headache during renovations, so it’s important to stay in the know before embarking on the project.

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Industry Trends6 min
Where the Construction Labor Shortage Is Most Severe

According to the latest American Community Survey from the U.S. Census Bureau, about 4 million people now work in residential construction (both single-family and multifamily) – down from the 5 million who were employed just before the Great Recession. Although the workforce has shrunk by 20 percent nationwide, some parts of the country are experiencing less pain than others. Similarly, light commercial construction has been reportedly back on the rise post-Recession, with IBISWorld reporting that the recovery started just before 2014 and continuing steadily through 2019 (source).

Renovation5 min
Top Four Home Exterior Tips for Fall

With fall just around the corner, it’s time to plan how you will ensure your home’s exterior is ready for the cooler temperatures while also keeping up with the latest seasonal trends. Not sure where to start? We break down the top four home exterior tips for fall for a little inspiration.

Industry Trends7 min
A Commitment to Product Availability

It’s frustrating when factors outside of your control cause you delays or unexpected expenses during a project. Those factors could be weather delays, insufficient staffing, breakdowns in cash flow and unreliable product availability. LP devotes significant resources each year to ensure that its product availability is second to none. Because even the most innovative building solution is useless to customers unless they know that it’s available when they really need it.