Nation's Building News Online

Recovery Slowly Shapes Up in War’s Aftermath

Looking at how housing and the economy will perform now that the negative impact of the war in Iraq seems to be fading, analysts speaking at the NAHB Construction Forecast Conference in Washington, D.C. on April 24 predicted that economic growth and the job market will be improving substantially in this year’s second half and in 2004 following initially weak quarters in 2003. … [ MORE ]

Building News From Coast to Coast

• Efforts to Boost Green Building
• Plots & Ploys: Charitable Condos
• Whys and Why Nots of Wi-Fi: Great for Home, Iffy for Office
• Pretty Houses Sell First
• The Tear-Down Trend: A Developing Situation
• Tree Ordinance Proposal Toppled Again
• Victory on Home Front in Military Housing
• Builders Team With Ultimate Electronics to Offer Home Networking Solutions for New Homes in Colorado

[ MORE ]

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Index Finds Remodeling Lull Ending

The lull in residential remodeling activity that settled over the industry at the end of last year is apparently coming to an end, according to NAHB’s Remodeling Market Index (RMI) for the first quarter of 2003.

The more than 600 professional remodelers who were surveyed for the index reported that business was starting to pick up early this year and they expect significant improvements for the balance of 2003. …  …[ MORE ]

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Housing Snapshot

The best news for the economy last week came from new and existing housing sales for March, which remained strong. In fact, housing continues to remain the bright spot in a lackluster national economy. Government reports showed that the economy grew at an anemic 1.6% yearly rate in the first quarter and that there were encouraging gains in consumer spending and incomes in March. Mortgage interest rates showed little change from the previous week and remained at very affordable levels. [ MORE ]

Mortgage Interest Rates

30-Year Fixed-Rate: 5.79%
15-Year Fixed-Rate: 5.12%
1-Year ARM: 3.79%

Housing Starts - Mar. 2003*

Total: 1.78 million
Single-Family Starts: 1.41 million
Multifamily Starts: 366,000

New Home Sales Mar. 2003*

1.01 million

Existing Home Sales Mar. 2003*

5.53 million

* Seasonally adjusted annual rate

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