Builder sentiment for new single-family homes increased in October, despite ongoing affordability challenges. The National Association of Home Builders reports optimism for 2025 market conditions, with builders anticipating easing inflation and moderating mortgage rates. The upcoming election remains a key factor in housing policy outlook.
Luxury flooring brand Riva Spain opens four new "Riva Corners" in Massachusetts, showcasing their high-quality, sustainable wood products. The expansion reflects the brand's growth in the region, with business tripling over two years.
Mohawk Builder Multifamily welcomed 11 designers from across the country to its inaugural design summit in Alpharetta, Georgia, to build relationships, garner feedback on flooring products in development, and share insights about the company's investments in innovation and sustainability.
Single-family starts posted a solid gain in August on robust demand and moderating mortgage rates even as builders continue to grapple with challenges related to lot and labor shortages and elevated prices for many building materials.
Despite high mortgage rates, single-family home construction remained solid across regions, while multifamily construction continued to decline. Second home markets saw strong growth in both single-family and multifamily construction over the past decade.
High interest rates for construction and development loans as well as ongoing challenges regarding labor shortages and higher prices for many building materials continued to slow the building market this summer.
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