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New Home Sales Soften In October

New home sales for October came in at a seasonally adjusted annual rate of 563,000. This was below forecasts, and the previous three months of new home sales were revised downward by 34,000 units. Even with the decline, new home sales were still 17.8 percent higher than October of last year. The Census report for new residential sales in October …

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Single-Family Permits Flat In October As Housing Starts Jump

Single-family permits fell flat in October. That’s the news from today’s Census numbers on October construction starts and permits. The unadjusted single-family permits data show 60,500 new single family permits for October 2016, virtually unchanged from last year’s 60,300 print. Headline numbers for housing starts show a huge 23.3 percent YoY increase, and a 21.7 percent increase in single-family starts …

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New Home Sales Softening, Higher Rates Won’t Help

New home sales have rebounded nicely in 2016, but recent developments suggest the new home market could be looking at more softness ahead. In recent posts I detailed how the Census numbers for new home sales were likely overstated, and I was proven correct when the most recent report noted a dramatic downward revision of new home sales during the …

New Home Sales Falling In Houston TX As Inventory Continues To Climb

Metrostudy released an update on new home sales in Houston Texas, and not surprisingly builders are having a much more difficult time moving inventory than they did a year ago. The new report surveying 24 builders in the Houston area showed that contracts were down 5.1 percent as of July while closings were off 12.4 percent compared to July of …

Typhoon Texas Water Park Breaks Ground In Katy

This was a welcome announcement this week considering the recent commodities crush. KDW Ltd broke ground on Typhoon Texas, a 43-acre water park at 555 Katy Fort Bend Road. Typhoon Texas will feature 50-foot body slides, a wave pool larger than that of Schlitterbahn, as well as raft slides, a lazy river and more. Opening for Typhoon Texas is scheduled …

Expansion Of Westpark Tollway (1093) Toward Fulshear To Begin In Months

The Westpark Tollway expansion is a major project for Katy Texas and West Houston, and it looks like construction on the 1093 expansion is just months away. Traffic on 1093 is currently bumper-to-bumper during morning and evening rush-hour commutes, and many in the Fort Bend County, Fulshear area have been eagerly awaiting the road improvements.

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Lennar Homes Q1 2015 Earnings Report Has Fed’s Policy Errors Written All Over It

Lennar Homes reported first quarter results for 2015, and the report had the Fed’s policy errors written all over it. The Houston numbers from Lennar were particularly revealing since the Federal Reserve has managed to obliterate the real economy once again, and a good portion of the housing market along with it. Lennar reported first quarter revenues of $1.6 billion, …

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January New Home Sales Beat Expectations

The Census Bureau reported that new homes sales were better than expected in January, posting at a seasonally adjusted annual rate of 481,000 vs expectations of 471,000. The inventory of new U.S homes stood at 5.4 months of supply in January. Bad weather apparently wasn’t an issue, as sales in the Midwest rose 21 percent for the month. The average …

New Video Rendering Of Katy Boardwalk Project

Covering Katy has obtained a video presentation from the Katy City Council detailing plans of the new boardwalk project. The city is still in the process of purchasing the remainder of the land needed for the project, but city officials are hoping to break ground later this year. Here’s a look at what might be going in behind Katy Mills …

US Home Builders Get Clipped By Gravitational Forces Of Truth

It was a rough day for new home builders this week, as the gravitational forces of truth once again rained on their hopeful optimism. KB started the party with news that they were cutting guidance and pulling out of some Houston land deals. Lennar Homes followed suit by announcing they were also experiencing shrinking margins due to the collapse of …