Pending home sales crept higher in May, ending a six-month streak of declines, according to the National Association of Realtors.

After posting four consecutive monthly declines on rising mortgage rates and worsening affordability conditions, new home sales posted a solid gain in May as some buyers rushed into the market in advance of the Federal Reserve’s June interest rate hike.

Existing-home sales retreated for the fourth consecutive month in May. Month-over-month sales declined in three out of four major U.S. regions, while year-over-year sales slipped in all four regions, according to the National Association of Realtors.

The number of U.S. secondary schools embracing trade skills curriculums is growing rapidly, according to the Home Builders Institute (HBI). The chief executive of the nation’s largest nonprofit organization in construction skills training says middle and high schools are reexamining the need to expose more of their students to the trades. 

Existing-home sales recorded a third straight month of declines, slipping slightly in April, according to the National Association of Realtors. 

Prices of materials and services used in new nonresidential construction leaped nearly 21 percent in April from year-ago levels, according to an analysis of government data by the Associated General Contractors of America. 

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the new residential sales statistics for March 2022.

Pending home sales dropped in March, signifying five straight months that contract activity has declined, according to the National Association of Realtors.

NAHB reports more than a third (36%) of millennials are now in favor of a larger home and home builders are responding to this trend.

The 43 members of the National Floorcovering Alliance (NFA) opened their spring meeting at the Grand Hyatt in Vail, Colorado, with roundtable discussions aimed at making their businesses more proficient and profitable amid ever-changing market conditions.