Following the National Association of Realtors’ data release, today the Commerce Department unveiled its October housing information — and it paints an interesting picture. Home sales were up 1.7 percent last month. Median home prices dropped 8.6 percent from the month prior and is down 13 percent compared to the same time last year (its sharpest drop since September 1981). New home inventories fell (one area in which a decline is a good thing!) 2.3 percent to from a nine-month supply to an 8.5 supply in October. Some industry experts think the sales increase is linked to builders who are…

The National Association of Realtors has released its data on October home sales, and the results are — despite the group’s trademark positive outlook — really somewhat disappointing. Pre-owned home sales hit their lowest point ever; so did home prices. October, in fact, marked the eighth consecutive month home sales dropped, according to CNNMoney.com. Some more "highlights:" Single-Family Homes Suffered. The annual pace of single-family home sales in October was 4.37 million, the same as September. However, September showed the lowest annual pace since early 1998 — so holding steady was nothing to celebrate. Condos Aren’t in the Clear. The…

We all know the U.S. housing market is rocky — but does the rest of the world feel that way? Maybe not. As the subprime crisis threatens international banks, some other countries have expressed interest in investing in U.S. commercial and other markets. Building comes in waves — and some may be ready to ride it out. Curious? Some suggested reading:Real Estate Has More Appeal Outside the U.S.: Jane Bryant Quinn  British Real Estate Investor Sees Potential in U.S. After Subprime Crisis

The city of Portland is premiering a new green building initiative — and it’s just one phone call away. The green building hotline was designed to give businesses, developers and residents information about green materials, indoor air quality, energy efficiency and more, according to GreenBuildings.com. The hotline also helps by offering information about financial incentives for residential and commercial buildings, new or pre-existing. Why did Portland set up its green hotline? A month ago, a report about green building’s economic pluses commissioned by several Portland agencies was released. The report was made to kick-start conversation in the Portland building industry…

As the October housing numbers trickle in, residential building and construction industry reports from areas around the country can provide a snapshot of what the various regions are experiencing as the housing slump drags on. And on. And … say it with me … on. Some recent state results include: Utah — New home demand along Utah’s Wasatch Front hit its lowest level in 17 years last month, according to a new Construction Monitor report. Builders took out just 530 single-family home permits, down from 1,186 in October 2006, the Salt Lake Tribune reports. Pennsylvania — Pittsburgh’s October residential building…

The Commerce Department today released its October new residential construction data today. We’re all looking for proof that the housing decline has hit its lowest point and will begin a correction. But was today’s news indicative of that? Well, the report contained some good news: After falling in September, housing starts set at an annual pace of 1.229 million units in October. That’s their biggest monthly increase (3 percent) since February — and a surprise to many economists who had said they were anticipating a decline. Single-family housing completions in October were 2.8 percent above the September figure of 1,127,000….

The National Association of Homebuilders’ housing index was released this afternoon, and it revealed what many expected: As home prices decline and mortgage restrictions increase, homebuilders are not feeling good about the industry. The Financial Times reported this morning that industry experts expected that the NAHB housing index — compiled from a monthly survey in which builders rate aspects of the housing situation as good, fair or poor — would set a new low point of 17 (compared with 19, the revised number from October). However, the reading stayed at 19. Some thoughts: Yay And Nay: A consistent reading is…

As more and more homeowners felt trapped by rising mortgage rates and stricter lending guidelines, more and more homeowners found themselves in foreclosure — not a nice place to be. According to the RealtyTrac Inc., Nevada — a state particularly hard hit by the housing slump — has the nation’s worst foreclosure rate, with 1 in every 61 households filing for foreclosure. Nationally, the rate is one filing for every 196 households. And while homeowners are finding foreclosure isn’t a nice place to be, their neighbors are finding it’s not so hot to be near foreclosure, either. That’s because those…

Earlier this week we discussed our heated anticipation for the LEED for Homes program release — is it finalized? What will it entail, exactly? Good news: The USGBC‘s site now includes news about the member ballot process ending Nov. 26. (You and I can’t vote … unless you’re a member organization primary contact. I’m not.) And the LA Times has some information about LEED for Homes’ final OK in an article about last week’s Greenbuild conference in Chicago. According to the Times, LEED for Homes, which has been in the testing phase for two years, *was* officially announced last week…

As residential building starts slow — the annual housing start rate was more than 2 million in 2005; economists expect it to fall to 1 million by mid next year, according to the Associated Press — some large homebuilders, no matter how many bargains they offer, may be in trouble. They’re not going down without a fight, mind you. Some, like the 50-year-old Centex Corp. and Pulte Homes Inc., are reducing their operating costs and cutting prices via sales promotions and auctions to sell homes. (Pulte recently trimmed $10,000 to $50,000 off prices at an event and also offered a…