Gary Bolis Jr

Great Read, click on link for original post: https://www.builderonline.com/money/profits/lennar-posts-240-million-q1-profit_o LENNAR POSTS $240 MILLION Q1 PROFIT Despite market 'choppiness,' deliveries and orders surge while backlog slips. Lennar Corporation (NYSE: LEN and LEN.B), today reported net income of $239.9 million, or $0.74 per diluted share, for its first fiscal quarter ended February 28, 2019. The gain compared to first quarter net earnings attributable to Lennar in 2018 of $136.2 million, or $0.53 per diluted share. Analysts were expecting a gain of $0.75 per share. A Lennar home. The results included: • Deliveries of 8,820 homes – up 30% • New orders of 10,463 homes – up 24%; new orders dollar value of $4.2 billion – up 23% • Backlog of 17,259 homes – down 2%; backlog dollar value of $7.1 billion – down 7% • Revenues of $3.9 billion – up 30% • Home building operating margins of $384.9 million, compared to $258.1 million • Gross margin on home sal...

Gread Read: Get your PSA's checked at your next doctors appointment. Early Detection is crucial. https://www.pcf.org/news/study-finds-upsurge-in-active-surveillance-for-low-risk-prostate-cancer/ Original Press Release Issued by: Dana-Farber Cancer Institute Many men with low-risk prostate cancer who most likely previously would have undergone immediate surgery or radiation are now adopting a more conservative “ active surveillance ” strategy, according to an analysis of a new federal database by scientists from  Dana-Farber Cancer Institute . Brandon Mahal, MD The use of active surveillance increased from 14.5 percent to 42.1 percent of men with low-risk prostate cancer between 2010 and 2015, said the researchers, led by Brandon Mahal, MD, from the department of radiation oncology at Dana-Farber/Brigham and Women’s Cancer Center who led the study published by  JAMA. During that same period, the percentage of men undergoing  radical prostatectomy  (removal ...

Great read: https://www.builderonline.com/money/economics/builder-confidence-steady-in-march_o Builder confidence held steady at 62 in March, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released Monday. “Builders report the market is stabilizing following the slowdown at the end of 2018 and they anticipate a solid spring home buying season,” said NAHB Chairman Greg Ugalde, a home builder and developer from Torrington, Conn. Chad McDermott Adobe Stock “In a healthy sign for the housing market, more builders are saying that  lower price points are selling well , and this was reflected in the government’s new home sales report released last week,” said NAHB Chief Economist Robert Dietz. “Increased inventory of affordably priced homes – in markets where government policies support such construction - will enable more entry-level buyers to enter the market.” However, affordability still remains a key concern for build...

Great read, good news: click on link for more: https://www.marketwatch.com/story/pending-home-sales-roar-back-suggesting-a-spring-uptick-for-housing-2019-02-27    ‘The reopening of the government (was) very beneficial to the market,’ the Realtors say By ANDREA RIQUIER   Bloomberg News/Landov A sale pending sign stands in front of a home in Massachusetts. The numbers:  A measure of pending home-sales jumped 4.6% in January, the  National Association of Realtors said Wednesday . Sales were 2.3% lower than a year ago, making January the 13th straight month of year-over-year declines. What happened:  NAR’s pending home-sales index, which tracks home contract signings, registered at a reading of 103.2 in January after it touched a nearly five-year low in December. Most economists expected the January bounce. And the trade group itself said the reopening from the partial government shutdown brought an expected boost to early-year ...

Interesting Read:  http://nahbnow.com/2019/03/bipartisan-tax-extenders-bill-introduced-in-senate/ Bipartisan Tax Extenders Bill Introduced in Senate Filed in  Capitol Hill   on March 1, 2019  •  Senate Finance Committee Chairman Charles Grassley (R-Iowa) and Ranking Member Ron Wyden (D-Ore.) have introduced the Tax Extender and Disaster Relief Act of 2019, NAHB-supported legislation that would reinstate and extend key housing tax provisions through Dec. 31, 2019. Of note to the housing community, the legislation addresses what is known as the “tax extenders,” a series of temporary tax provisions that expired at the end of 2017. The bill would retroactively reinstate in 2018 and extend the following expired tax provisions through 2019:  Deduction for Mortgage Insurance . Allows taxpayers, subject to an income cap beginning at $100,000, to deduct premiums paid for private mortgage insurance and FHA/RHA/VA insurance premiums.  Section 45L Tax Credit for ...

Great read :   https://www.builderonline.com/money/mortgage-finance/mortgage-rates-drop_o MORTGAGE RATES DROP 30-year fixed-rate loan comes in at 4.75%. Freddie Mac’s  (OTCQB: FMCC)  Primary Mortgage Market Survey ®  shows that mortgage rates dropped in the past week after weeks of moderating. Sam Khater, Freddie Mac’s chief economist, says, “Mortgage rates declined this week amid a steep sell-off in U.S. stocks. This week’s rate reaction to the volatile stock market is a welcome relief to prospective home buyers who have recently experienced rising rates and rising home prices.” News Facts 30-year fixed-rate mortgage  (FRM) averaged 4.75% with an average 0.5 point for the week ending December 6, 2018, down from last week when it averaged 4.81. A year ago at this time, the 30-year FRM averaged 3.94%. 15-year FRM  this week averaged 4.21% with an average 0.4 point, down from last week when it averaged 4.25%. A year ago at this ti...

great news, great read: http://www.builderonline.com/land/local-markets/homes-sold-at-fastest-pace-ever-in-2017_o Zillow: From listing to closing, it took 81 days on average. The fastest-selling market in 2017 was San Jose, Calif., where the typical home sold in 41 days. San Jose also experienced the biggest drop in inventory over the past year, with 26.8 percent fewer homes to choose from than a year earlier. Homes in  San Jose  sold fastest last year in October, with a span of just 39 days from listing to closing. Homes sold at their fastest pace on record in 2017–81 days from listing to closing–according to new research from Zillow out Tuesday. That was nine days faster than the year prior. The quickest selling month for the typical home was June 2017, when it took about 73 days for a home to sell, including closing. Since it can take between four and six weeks to close a home sale, that means that the typical home was on the market for around 30 days before goin...

GOOD READ https://www.census.gov/construction/nrc/pdf/newresconst.pdf FOR RELEASE AT 8:30 AM EDT, FRIDAY, MARCH 16, 2018 MONTHLY NEW RESIDENTIAL CONSTRUCTION, FEBRUARY 2018 Release Number: CB18-38 March 16, 2018 – The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for February 2018: NEW RESIDENTIAL CONSTRUCTION FEBRUARY 2018 Building Permits: 1,298,000 Housing Starts: 1,236,000 Housing Completions: 1,319,000 Next Release: April 17, 2018 Seasonally Adjusted Annual Rate Source:  U.S. Census Bureau, HUD, March 16, 2018 Building Permits Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,298,000. This is 5.7 percent (±0.7 percent) below the revised January rate of 1,377,000, but is 6.5 percent (±2.4 percent) above the February 2017 rate of 1,219,000. Single-family authorizations in February were at a rate of...

Check this out: https://www.census.gov/construction/nrc/pdf/newresconst.pdf MONTHLY NEW RESIDENTIAL CONSTRUCTION, JANUARY 2018 February 16, 2018 - The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for January 2018: NEW RESIDENTIAL CONSTRUCTION JANUARY 2018 Building Permits: 1,396,000 Housing Starts: 1,326,000 Housing Completions: 1,166,000 Next Release: March 16, 2018 Seasonally Adjusted Annual Rate Source:  U.S. Census Bureau, HUD, February 16, 2018 Building Permits Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,396,000. This is 7.4 percent (±1.2 percent) above the revised December rate of 1,300,000 and is 7.4 percent (±1.9 percent) above the January 2017 rate of 1,300,000. Single-family authorizations in January were at a rate of 866,000; this is 1.7 percent (±1.3 percent) below the revised Dece...

Home prices surge 6.3% in December amid critical housing shortage GOOD READ... https://www.cnbc.com/2018/02/27/home-prices-surge-amid-critical-housing-shortage.html U.S. home prices increased 6.3 percent compared with December 2016, according to the much-watched S&P CoreLogic Case-Shiller national home prices index. The boom is strongest in Seattle, Las Vegas and San Francisco, which reported the highest gains. Chicago, Cleveland and Washington, D.C., saw the smallest gains. None of the top 20 markets saw an annual price decline Sky-high demand and record-low supply continued to push home prices higher in December, far faster than income growth. U.S. home prices increased 6.3 percent compared with December 2016, according to the much-watched S&P CoreLogic Case-Shiller national home prices index. That is an increase from 6.1 percent annual growth in the previous month. The index measuring the nation's 20 largest metropolitan markets rose 6....

AN INTERESTING READ: FOR RELEASE AT 8:30 AM EST, TUESDAY, DECEMBER 19, 2017 MONTHLY NEW RESIDENTIAL CONSTRUCTION, NOVEMBER 2017 Release Number: CB17-206 December 19, 2017 - The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for November 2017:  ​ Housing Starts Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,297,000. This is 3.3 percent (±9.1 percent)* above the revised October estimate of 1,256,000 and is 12.9 percent (±11.7 percent) above the November 2016 rate of 1,149,000. Single-family housing starts in November were at a rate of 930,000; this is 5.3 percent (±10.2 percent)* above the revised October figure of 883,000. The November rate for units in buildings with five units or more was 359,000.  READ FULL STATISTICS AT https://www.census.gov/construction/nrc/pdf/newresconst.pdf

Interesting Read: http://www.builderonline.com/design/consumer-trends/once-hot-apartment-construction-cooling-as-us-housing-engine_c Faster apartment building was instrumental in pulling the U.S. housing market out of its slump a decade ago. Now, that engine is starting to throttle back. A softening in the multifamily segment is something to keep an eye on even as overall home building -- which includes single-family dwellings that make up the largest share of the market -- is expected to keep moving forward. The supply of apartments and condominiums has surged in recent years as builders responded to rising demand, fueled in part by young Americans who preferred to rent rather than purchase a home in the aftermath of the recession. A surge in prices for single-family properties, as the real-estate market recovered from its 2006 plunge, also made apartments more attractive for both builders and people unable to buy.  For Full Article Go to : http://www.builderonline.co...