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California introduces $11.25 billion investment in housing
The California Governor, State Assembly, and Senate introduced the Veterans and Affordable Housing Bond Act of 2026, a $11.25 billion investment to…
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The California Governor, State Assembly, and Senate introduced the Veterans and Affordable Housing Bond Act of 2026, a $11.25 billion investment to support veterans’ homeownership, housing development and affordability. The bill will be placed on the November 2026 ballot for voters to decide whether to adopt it.
This statewide piece of legislation comes after a major federal investment in housing development, the 21st Century Road to Housing Act, passed by the House and Senate.
In California, the bond is expected to invest in veterans and first-time homebuyers by providing down payment assistance and affordable mortgage financing. Specifically, $1.25 billion is allocated to the self-supporting revenue bonds for the CalVet Home Loan Program.
“California has been building toward this moment. We’ve cut red tape, fast-tracked construction, protected renters,” said Speaker of the Assembly Robert Rivas. “And now, we’re going bigger: $11.25 billion for affordable housing to expand homeownership for veterans and working families, drive down costs and prove that the door to opportunity is open to everyone. This is California delivering.”
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Fed holds rates steady in Warsh’s first decision as chairman
Kevin Warsh’s first decision as chairman of the Federal Reserve kept interest rates steady. The Fed’s rate holding pattern is consistent throughout…
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Kevin Warsh’s first decision as chairman of the Federal Reserve kept interest rates steady. The Fed’s rate holding pattern is consistent throughout 2026; the last rate cut was in December 2025.
Warsh and the board affirmed that despite geopolitical uncertainty and a rise in inflation, the U.S. economy holds strong, with the unemployment rate largely unchanged and consumer spending up 0.09% in May.
For housing and construction, employment is up year over year and a major housing bill is set to move towards signing.
“Despite ongoing pressure on the Fed to ease ahead of the midterms, inflation remains the primary driver of policy decisions,” said Dr. Selma Hepp, Chief Economist for Cotality and regular contributor to Builder & Developer. “While we expect administrative focus to zero in on housing affordability again—likely through increased incentives as sales continue to disappoint—elevated costs and borrowing rates will persist. Importantly, regardless of Fed action, mortgage rates are unlikely to fall meaningfully until inflation cools and long-term yields move decisively lower.”
“Overall, the June meeting pivoted the Fed to a notably more hawkish bias, reflecting an increase in current inflationary challenges,” said the National Association of Home Builders Chief Economist Robert Dietz. “Without relief from underlying causes of inflation, Fed policy action will not aid the housing and building market in the near term. However, there are dovish or disinflationary possibilities in the outlook, from resolution of geopolitical headline risks or benefits from productivity growth.”
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Takeaways from the current housing economy
The Harvard Joint Center for Housing Studies released its annual State of the Nation’s Housing report, offering an overview of the current…
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The Harvard Joint Center for Housing Studies released its annual State of the Nation’s Housing report, offering an overview of the current housing market. Many indicators show that housing market activity remained flat in early 2026. New home sales levels remained relatively unchanged, rental retention rates increased and new occupancies declined. Construction saw a slight decrease of 1% over the past year. Key takeaways from the report include subdued activity, weakening demand, and sidelined potential homebuyers.
The current weakness in housing demand is a direct result of several underlying economic drivers and a decreasing employment growth rate.
With many U.S. residents burdened by high housing costs, an increasing number of state and local governments are taking action to increase housing production.
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A Masterclass in Bespoke Texan Building
Keechi Creek Builders stuns with regional vernacular architecture and interior design Decision Drive from Keechi Creek Builders charms with its remarkable attention…
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Keechi Creek Builders stuns with regional vernacular architecture and interior design
Decision Drive from Keechi Creek Builders charms with its remarkable attention to detail. The project is a fitting finalist for Best Kitchen and Best Overall Interior Design from the Texas Association of Builders (TAB) Star awards.
Dedicated to Design
In 2001, Brandon Lynch began his residential construction career immediately after graduating from Texas A&M with an engineering degree. He quickly saw success in his role with production builders, managing an estimated $20 million to $30 million on-site at one time.
While Lynch excelled and enjoyed the aspects of volume construction management and client relations, he believed these experiences could be taken on a more personal level. He decided that the custom homebuilding and remodeling markets offered the detail-oriented one-to-one care he found fulfilling to deliver.
From there, in 2007, Brandon and his wife, Sheri, founded Keechi Creek Builders. Within the company’s first month of operation, it had a signed contract for a custom home. The builder’s name originates from both personal and metaphorical roots: fond memories of Keechi Creek in Palo Pinto County, Texas and the belief that homebuilding is a fluid and adaptive process. In the last nearly two decades of building, Keechi Creek grew to earn more projects in the Houston area, building over 200 custom homes to date and gaining the trust of the local community.
“Today’s homeowners are more informed about their investment,” said Lynch. “They want to know that their builder is paying attention and understands their vision; our process has grown with that demand. We place an even greater emphasis on developing that trust, which leads to a smoother building process for everyone.”
The industry accolades followed suit, earning Keechi Creek the Custom Builder of the Year award from the Greater Houston Builders Association (GHBA), along with GHBA Prism awards and other TAB Star awards. Lynch and Keechi Creek were also recognized with the Aggie 100, an award honoring Texas A&M alumni businesses.
Impressive Interiors
Construction of the 5,092-square-foot project began in January 2024 and was completed in February 2025. The facade of the home blends New-Traditional-style architecture with its elegant material selection of Old St. Louis brick, Texas Hill Country limestone and metal roofing to create an intriguing yet welcoming exterior.
“For many of our clients, true luxury means a home that is designed specifically around them,” said Lynch. “It is no longer defined only by square footage; our clients want a beautiful home that is comfortable and functional with superior quality.”
When entering, the home’s distinct design character is immediately apparent. Under one continuous cathedral ceiling with vintage cedar scissor trusses, Keechi Creek juxtaposes classic architectural decisions with eclectic colors and contemporary flair. With ease of movement from the living room, to the dining and kitchen areas, the space is the heart of the home for entertainment and relaxation. The dining area features an Italian-imported 12-foot custom dining table with seating for a party of up to 13 guests. The open-concept layout remains connected through a Venetian plaster fireplace, a design element mirrored in the chef’s kitchen through an architectural range hood surround. The statement La Cornue range in a dusty blue finish, grounds the kitchen and is complemented by an elegantly placed MacKenzie-Childs checkered tea kettle. The kitchen is finished with custom cabinetry, three unique backsplashes and an expansive 12-foot quartzite waterfall island.
Unexpected Elements
For this project, Keechi Creek Builders collaborated with BKD Interiors, an award-winning full service interior design firm. With Brenda Denny as Lead Designer and Tamara Cunningham as Senior Designer, the duo ingrained personality throughout every detail of the project.
While BKD Interiors masterfully balances pops of color, materials and prints throughout the home, the primary bathroom is a quiet and serene sanctuary. The room features custom cabinetry, gold accents and thoughtful vanity placements under the airy high-pitched ceilings. Under expertly placed windows allowing natural light to flood the room and an elegant tile mosaic, the freestanding tub is the center of attention.
The most exceptional addition to Decision Drive is the dedicated music room. Keechi Creek custom-built the stage for the baby grand piano with excellent millwork on the storage and display space.
Photo Credits: Analicia Hermann
By Sofia Feeney. She is the Editor at Builder and Developer and can be reached at sofia@builder.media.
This story is also featured in B&D June, read the print version.
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21st Century ROAD to Housing Act advances to Senate
The 21st Century ROAD to Housing Act has reached the Senate. The bill aims to solve the national affordable housing shortage by…
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The 21st Century ROAD to Housing Act has reached the Senate. The bill aims to solve the national affordable housing shortage by increasing supply, easing regulatory burdens and modernizing outdated U.S. Department of Housing and Urban Development programs.
On May 22, 2026, the U.S. House of Representatives approved an amendment to the bill that would have removed a build-to-rent sales provision that would have hurt affordability and reduced much-needed housing supply. The National Association of Home Builders (NAHB) led the push to remove the provision and has been an active supporter of the bill.
“NAHB congratulates congressional leaders for reaching a bicameral and bipartisan agreement to move forward a final version of the 21st Century Road to Housing Act,” said Bill Owens, NAHB chairman, a home builder and remodeler from Worthington, Ohio. “This landmark legislation would expand housing opportunities for buyers and renters, strengthen homeownership and help tackle the affordability challenges facing communities nationwide. It’s time for Congress to move this historic housing package across the finish line.”
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AIA/Deltek ABI reports decline
The latest AIA/Deltek Architecture Billings Index® (ABI) reported a decrease from its April posting of 48.3, down to 44.5. This is the lowest level since the beginning of 2026. Signaling effects from general economic uncertainty in the past few months, despite cautious optimism earlier in the year.
The South remains the strongest regional market at 49.6, with the Northeast (46.2), West (45.4) and Midwest (45.3) trailing a bit behind.
“The uncertainty created by the Iran conflict, and substantially higher energy costs, weighed on architect billings in May,” said AIA Chief Economist, Richard Branch. “Higher interest rates, rapidly rising material costs and continued labor shortages all contributed to softer demand.”
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Takeaways from the current housing economy
The Harvard Joint Center for Housing Studies released its annual State of the Nation’s Housing report, offering an overview of the current housing market. Many indicators show that housing market activity remained flat in early 2026. New home sales levels remained relatively unchanged, rental retention rates increased and new occupancies declined. Construction saw a slight decrease of 1% over the past year. Key takeaways from the report include subdued activity, weakening demand, and sidelined potential homebuyers.
The current weakness in housing demand is a direct result of several underlying economic drivers and a decreasing employment growth rate.
With many U.S. residents burdened by high housing costs, an increasing number of state and local governments are taking action to increase housing production.
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May 2026 Luxury Housing Market Report
Luxury home prices across the U.S. reached $1,283,432 in May 2026, despite year-over-year declines continuing at -1.4%. The pace of annual softening has pulled back considerably from the 5%-plus drops seen in early 2025, suggesting an uptick in the national luxury housing market.
Among tracked luxury metros, Minneapolis and Boise City, Idaho, have fully surpassed their pandemic-era peaks as of February, at 5% and 4.2%, respectively. The composition of the top 10 luxury markets was unchanged from April, with the same 10 appearing in slightly different order.
Year over year, Naples-Marco Island, Fla., at 4.3%, and Crestview-Fort Walton Beach-Destin, Fla., at 3.2%, were the only markets on the list with positive annual price growth.
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Alaska modernizes its legislation on interior designers
Alaska passed House Bill (HB) 314, to institute a protected title and regulation for qualified interior designers. The bill also creates a registration pathway for formal recognition through the Board of Architects, Engineers and Land Surveyors.
The legislation was heavily supported by the American Society of Interior Designers and its Consortium for Interior Design.
Alaska is now the 31st state to enact reasonable regulation of the profession, following Idaho in March.
“Today’s action marks an important milestone for Alaska and for the future of the design profession,” said Khoi Vo, president and chief executive officer, ASID. “HB 314 recognizes the education, experience and examination standards that qualified interior designers meet and ensures they can contribute more fully to the design and construction process. This legislation supports public safety, strengthens professional practice and creates new opportunities to serve communities across Alaska.”
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California introduces $11.25 billion investment in housing
The California Governor, State Assembly, and Senate introduced the Veterans and Affordable Housing Bond Act of 2026, a $11.25 billion investment to support veterans’ homeownership, housing development and affordability. The bill will be placed on the November 2026 ballot for voters to decide whether to adopt it.
This statewide piece of legislation comes after a major federal investment in housing development, the 21st Century Road to Housing Act, passed by the House and Senate.
In California, the bond is expected to invest in veterans and first-time homebuyers by providing down payment assistance and affordable mortgage financing. Specifically, $1.25 billion is allocated to the self-supporting revenue bonds for the CalVet Home Loan Program.
“California has been building toward this moment. We’ve cut red tape, fast-tracked construction, protected renters,” said Speaker of the Assembly Robert Rivas. “And now, we’re going bigger: $11.25 billion for affordable housing to expand homeownership for veterans and working families, drive down costs and prove that the door to opportunity is open to everyone. This is California delivering.”
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First America Homes launches new Austin division, continuing texas expansion
First America Homes, one of Texas’s fastest-growing homebuilders, announced its expansion across Texas with a new Austin division. The builder is the homebuilding division of Texas real estate developer The Signorelli Company and currently operates in 12 active communities in the San Antonio area.
This move follows First America Homes’ recent expansion into the Dallas–Fort Worth market, with homesites expected to open in July 2026.
“Central Texas continues to benefit from strong market fundamentals and sustained population growth,” said Danny Signorelli, founder and CEO of The Signorelli Company. “That momentum creates tremendous opportunities for expansion as we bring more quality homes and exceptional living experiences to families across the region. With the financial strength, development expertise and long-term vision to execute, we’re investing strategically in new communities and creating lasting value for homeowners while strengthening our footprint across Texas.”
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Mortgage rates average 6.52%
On June 11, 2026, Freddie Mac released the results of its Primary Mortgage Market Survey, showing the 30-year fixed-rate mortgage reached an average of 6.52%.
“The 30-year fixed-rate mortgage averaged 6.52% this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Stronger employment momentum has helped existing home sales reach a five-month high. Importantly, we’re seeing homebuyers look past the short-term rate fluctuations and actively enter the market, signaling renewed confidence in homeownership opportunities.”
The most recent 30-year FRM reached a 6.52% average, up from last week’s 6.48%. A year ago at this time, the 30-year FRM averaged 6.84%. Meanwhile, the 15-year FRM averaged 5.84%, up from last week’s average of 5.79%. A year ago at this time, the 15-year FRM averaged 5.97%.
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NAHB study analyzes homebuilding regulatory costs
A new study from the National Association of Home Builders (NAHB) analyzed homebuilding regulatory costs, comparing results from the 2026 survey to a previous one conducted in 2021. The 2026 survey revealed that, on average, regulations imposed by the government at all levels account for $131,734, or 26.4%, of the final price of a new single-family home built for sale. Of this amount, $46,795 is due to a higher price for the finished lot, a direct result of regulations imposed during the lot’s development. The remaining $84,939 is the result of regulatory costs imposed on the builder during construction, after the builder purchases the finished lot.
According to the study, regulatory costs are one of several factors, including record increases of tariff rates on building materials, ongoing skilled labor shortage, a decrease in available lots and tighter lending conditions, currently limiting the supply of housing, particularly housing for the entry-level market.
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Mortgage rates decrease to 6.48%
On June 4, 2026, Freddie Mac announced that the 30-year fixed-rate mortgage (FRM) averaged 6.48%, according to its Primary Mortgage Market Survey. The FRM decreased from the week before, when it averaged 6.53%. A year ago at this time, the 30-year FRM averaged 6.85%.
“The 30-year fixed-rate mortgage decreased to 6.48% this week,” said Sam Khater, Freddie Mac’s Chief Economist. “With mortgage rates in the mid-6% range and income growth outpacing home price growth, housing affordability is marginally improving.”
The 15-year FRM averaged 5.79%, down from the week prior when it averaged 5.87%. A year ago at this time, the 15-year FRM averaged 5.99%.
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AIA Awards 2026 Winners announced
The American Institute of Architects (AIA) announces its AIA Awards 2026 Winners at the AIA Conference on Architecture & Design 2026. Taking place at the San Diego Convention Center from June 10 to 13, 2026, the event draws in over 5,000 architects and design professionals to network, take classes and expand on how to build a better world.
AIA Awards celebrated over 100 award winners across ten categories. One of the recipients of the AIA Housing Award, Pine Flat by Faulkner Architects, was featured in Green Home Builder’s January/ February issue. Other recipients include Spoonbill Ranch, a single-family custom home in North Dakota’s Prairie Pothole Region by Johnsen Schmaling Architects.
“Every project honored across these 10 award programs is a powerful reminder of architecture’s profound impact on our communities—and its role in shaping a stronger future for generations to come,” said 2026 AIA President Illya Azaroff, FAIA. “The projects being are forward-looking, creating spaces that uplift, connect, and inspire. Together, the winners demonstrate how thoughtful design can enrich lives and help build a better future for all.”
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Backyard features homebuyers want in 2026
Homeowners now treat outdoor spaces like functional extensions of the house, packed with purpose, comfort and long-term value. When scanning listings, homebuyers look for backyard features that offer more than looks; they look for performance, resilience and year-round usability.
This year has seen a rise of climate-resilient backyard design. Designers are responding by introducing heat-tolerant plants, permeable surfaces and shade-first layouts that keep outdoor spaces usable longer. Smart plant groupings now replace random flower beds with intentional ecological zones. Gardeners mix native shrubs, deep-rooted grasses and drought-resistant perennials to stabilize soil and reduce watering needs.
Water efficiency now plays a large role in potential buyers’ decisions. Homebuyers are increasingly asking how a property manages irrigation, runoff and seasonal drought conditions. Smart irrigation systems answer those concerns with soil sensors, weather tracking and precision watering schedules.
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Award-Winning, Elevated Living
North River Ranch, developed by Neal Land & Neighborhoods, represents a fresh approach to developing a master-planned community in Southwest Florida. Located in Parrish, the project continues to expand across multiple phases of development.
On May 26, 2025, the community celebrated the grand opening of a new neighborhood, Crescent Creek, with both single-family detached homes, townhomes and two-story villas with rear garages. The developer plans for the community to host approximately 6,000 single-family homes, villas, townhomes and multi-family residences across the 2,640 acres full of community amenities for both engagement and entertainment.
The community received a Silver Award from the Best in American Living Awards (BALA) in the category of Best Single-Family Community from the National Association of Home Builders.
“Receiving recognition from BALA is especially meaningful because it reflects the intentional, thoughtful design and collaborative vision behind North River Ranch,” said John A. Neal, President of Neal Land & Neighborhoods. “From the beginning, the goal was to create a master-planned community where architecture, land planning, amenities and the natural environment work together cohesively to shape an elevated living experience.”
Diving into Development
In 2013, Neal founded the company with a vision to create innovative, master-planned communities that shape how people live and connect. The primary goal was to integrate residential living with high-quality lifestyle amenities and long-term economic growth.
“We create tomorrow’s neighborhoods through smart design and meticulous execution; neighborhoods that are both visually compelling and highly functional for the way people live,” said Neal.
The developer approaches community development from a holistic perspective, focusing on the overall neighborhood’s lifestyle and functionality rather than a single home. Neal Land & Neighborhoods recalled the challenge of developing new models for homes for master-planned, daily living in an emerging market, all while striving for infrastructure improvements and economic growth. On top of this, the developer worked closely with the builders, architects and engineers to preserve the community’s native landscape.
For North River Ranch, Neal Land & Neighborhoods worked with several homebuilders and designers, including Homes by WestBay, Cardel Homes Florida, Neal Communities, Pulte Homes and David Weekley Homes. With over 30 possible floor plans, new homes in the community range in size from 1,433 to 3,518 square feet and in price points from $300,000 to over $1 million.
Booth Design Group based the community’s architectural design to feel authentic to the way people live, from lighting aesthetics to on-site planning. Looney Ricks Kicks conceptualized and designed the community’s prominent amenities, including the 12-acre Camp Creek Clubhouse and Headwaters Swim Center.
Neal Land & Neighborhoods envisioned the community to function as a “city-within-a-city,” blending residential neighborhoods with educational centers, retail stores and healthcare facilities so residents have access to life necessities without venturing too far from the comfort of their home.
Elegant and Functional
Tucked into the southwest of the community is the Longmeadow neighborhood, with new homes by Pulte Homes, Homes by WestBay and Cardel Homes.
Homes by WestBay designed the single-family model homes with both traditional and luxurious elements. The homes range from 2,533 to 3,518 square feet, featuring three to five-bedrooms and three to five-bathrooms. The homes come in both one and two-story options as well as a three-car garage.
With a neutral color palette inspired by modern contemporary design, the homes’ interiors inspire a high-class lifestyle. The marble kitchen island is accented with dark, wooden cabinetry. An open layout between the kitchen and the living room allows for functionality of movement without sacrificing the elegant design. An opalescent dual-vanity with hidden storage features gives the bathroom a resort-spa-like feel.
Floor-to-ceiling windows and a glass-patio-covered pool overlook the lake, making the backyard feel like a lakeside vacation home.
Coastal Design
Next to Longmeadow is the Wildleaf neighborhood, featuring homes from Neal Communities. The builder’s single-family homes range from 1,533 to 2,400 square feet, with two to four-bedrooms, two to three-a-half bathrooms and two to three-car garages. These homes also come in one and two-stories.
The homes’ grey and white color palette inspires coastal living, amplified by sliding doors that lead to an open patio at the lake’s edge.
Sleek finishes and appliances accent the kitchen. The white cabinetry pairs beautifully with the pristine, white marble island and countertops.
Each of the model homes’ exteriors reflect the unique style of the individual builder while blending into a cohesive, community design; a credit to the planning and development of North River Ranch.
Photos courtesy of Neal Land & Neighborhoods.
By Taylor Moore. She is the Assistant Editor at Builder and Developer and can be reached at taylor@builder.media.
Exclusive Feature
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A Masterclass in Bespoke Texan Building
Keechi Creek Builders stuns with regional vernacular architecture and interior design Decision Drive from Keechi Creek Builders charms with its remarkable attention…
by
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Mortgage rates decrease to 6.48%
On June 4, 2026, Freddie Mac announced that the 30-year fixed-rate mortgage (FRM) averaged 6.48%, according to its Primary Mortgage Market Survey. The FRM decreased from the week before, when it averaged 6.53%. A year ago at this time, the 30-year FRM averaged 6.85%.
“The 30-year fixed-rate mortgage decreased to 6.48% this week,” said Sam Khater, Freddie Mac’s Chief Economist. “With mortgage rates in the mid-6% range and income growth outpacing home price growth, housing affordability is marginally improving.”
The 15-year FRM averaged 5.79%, down from the week prior when it averaged 5.87%. A year ago at this time, the 15-year FRM averaged 5.99%.
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Connecticut expands building code adoption cycle
On June 9, 2026, Connecticut Governor Ned Lamont signed a bill into law that lays the groundwork to expand the state’s building code adoption cycle to every six years rather than the current three years. Housing affordability was a primary driver of the new law.
The law calls for the state to pause its adoption of model building codes between the 2024 and 2030 cycles. The current law calls for the state to adopt new building codes within 18 months of their publication.
The Home Builders & Remodelers Association of Connecticut (HBRA-CT) was instrumental in getting the law passed and providing more stability to home builders in the state. HBRA-CT officials successfully argued that adopting new building codes on a six-year cadence strikes the right balance between the need to keep up with evolving technologies and the ability of all impacted parties to transition to new code requirements. It also allows the industry to accumulate meaningful practical experience with adopted codes before deciding on new changes.
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Backyard features homebuyers want in 2026
Homeowners now treat outdoor spaces like functional extensions of the house, packed with purpose, comfort and long-term value. When scanning listings, homebuyers look for backyard features that offer more than looks; they look for performance, resilience and year-round usability.
This year has seen a rise of climate-resilient backyard design. Designers are responding by introducing heat-tolerant plants, permeable surfaces and shade-first layouts that keep outdoor spaces usable longer. Smart plant groupings now replace random flower beds with intentional ecological zones. Gardeners mix native shrubs, deep-rooted grasses and drought-resistant perennials to stabilize soil and reduce watering needs.
Water efficiency now plays a large role in potential buyers’ decisions. Homebuyers are increasingly asking how a property manages irrigation, runoff and seasonal drought conditions. Smart irrigation systems answer those concerns with soil sensors, weather tracking and precision watering schedules.
Latest Issue
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June 2026
This issue of Builder and Developer features our mid-year housing update and insights into the future of luxury living.
Exclusive Feature
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Residential Contractor Magazine: Coming July 2026
Residential Contractor Magazine residentialcontractormag.com THE PROJECTS. THE PRODUCTS. THE PROS. Residential Contractor connects manufacturers with the remodelers, contractors, trades and dealers shaping…
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Residential Contractor Magazine: Coming July 2026
Residential Contractor MagazineTHE PROJECTS. THE PRODUCTS. THE PROS.
Residential Contractor connects manufacturers with the remodelers, contractors, trades and dealers shaping today’s residential construction market.
The Summer 2026 issue features the National Deck Competition Winner’s Showcase alongside the products, tools, technology and business solutions driving better, more profitable projects.
If you are interested in participating please contact fiona@builder.media
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Less young adults are first-time homebuyers
According to a report from First American, young adults are the missing gap in first-time homebuyers. Nearly half of 20-to 24-year-olds still lived with their parents in 2025. Only about 25% of 25-to 29-year-olds owned their homes.
The reality is that homeownership is arriving later in life for young adults, with the delay often originating at moving out of their childhood homes.
Young adults are moving through traditional markers of adulthood, such as moving out, work, marriage and children, on a different timeline than previous generations. As those milestones shift, the housing sequence that often follows, moving out, renting and buying, also shifts.
Most young adults are still renting. While today’s renters are likely to become tomorrow’s buyer, that “tomorrow” is happening later in life. The reasons for this vary between affordability challenges, as well as other life milestones that have shifted into the later years, such as school, work or family.
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Taylor Morrison acquired in $8.5 billion deal
Announced on May 31, 2026, Berkshire Hathaway will acquire homebuilding giant, Taylor Morrison for $8.5 billion. The all-cash transaction values Taylor Morrison at $72.50 per common share.
This is the first major move from Berkshire Hathaway ‘s new CEO Greg Abel who assumed the role in January. Berkshire Hathaway owns Clayton Homes, the modern manufactured homebuilder, which it acquired in 2003 for $1.7 billion..
There are indications of a consolidation between the two homebuilders. Between Taylor Morrison’s 12,997 closings and Clayton Properties’ 9,953 closings in 2025 would create the fourth largest homebuilder in the United States.
“We are excited to welcome Taylor Morrison into Berkshire’s portfolio, reflecting our long-standing commitment to housing, exemplified by Clayton Homes and our other building products businesses,” said Abel. “Over time, we expect to unify our site-built homebuilding operations into a combined platform enabling us to deliver the dream of homeownership to more Americans.”
However, Taylor Morrison’s extremely successful CEO Sheryl Palmer is not going anywhere following this acquisition. Berkshire Hathaway announced the Taylor Morrison team to continue with its existing management, including Palmer. Palmer drove the company to its nationwide strength and growth, going public in 2013 and currently building in 21 markets across 12 states. Under her tenure, Taylor Morrison’s leadership team boasts a unique point of view, 50% of senior leadership roles are occupied by women, four times the industry standard.
“Over the last 13 years as a public company, we built a track record of strategic growth—expanding our geographic footprint, integrating acquisitions with discipline and deepening our competitive strengths across procurement, brand and customer experience,” said Palmer. “Berkshire Hathaway’s long-term orientation is uniquely well-suited to the multi-year investment cycle of homebuilding, and this combination will allow us to scale the Taylor Morrison platform in ways that would not be possible as a standalone company.
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Mortgage rates average 6.41% in May
According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.41% in May 2026, up 7 basis points (bps) over April. Additionally, the average 15-year rate averaged 5.76% in May, up 7 bps from April and up 33 basis points since the end of February.
The 10-year Treasury yield, a key benchmark for long-term borrowing, averaged 4.47% last month, 16 bps higher than in April. Stronger-than-expected inflation pushed yields upward, with the 10-year yield reaching 4.6% during the month. Rising energy prices kept inflation high, as fuel oil prices increased 5.8% and gasoline prices rose 5.4%.
Persistently high inflation has also impacted household budgets, with the personal saving rate falling to 2.6% in April.
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Average homebuyer’s down payment decreases
According to a new Redfin analysis, the average homebuyer’s down payment is down from last year, falling to $64,000 in March 2026, down 1.5% year-over-year. The average down payment was 15%, down from 16.1% in 2025.
Down payment percentages were highest in three California metros: San Jose, San Francisco and Anaheim, all at 25% each.
Down payments were lowest in Virginia Beach at 2% and Detroit at 5%, which are both considered affordable markets.
The data in the report is from an analysis of county records across 40 of the most populous U.S. metropolitan areas. March 2026 is the most recent month for which data is available.
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Wellness is driving bathroom design trends
The era of minimalistic, sterile bathrooms is over and is being replaced with personality-driven and wellness-inspired designs. Increasing natural light flowing into the space has become the leading priority, followed closely by heated floors and biophilic design elements that strengthen the connection between indoor spaces and nature. Enhanced air quality is becoming another leading factor in bathroom design, once again inspired by wellness.
These rising design trends are replacing the all-grey and all-white interiors that were once dominating contemporary design.
“The cold, sterile material palettes are being replaced with warm, tactile and nature-integrated designs,” Alexzandra Aguirre of Phoenix Interior Design.
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Cole West announces new President of Homebuilding
Cole West, one of the nation’s fastest-growing homebuilders, announced Chris Winter’s appointment to President of Homebuilding. Founded in 2016 by Colin Wright, the privately-held Utah-based company currently has 21 active communities across the state.
Winter’s last position at the company was Division President for Cole West’s Southern Utah homebuilding operations. Previous to Cole West, he served as Vice President of Finance in Northern California for PulteGroup.
“Chris’ proven leadership and deep understanding of the Utah market make him exceptionally well-suited to lead our homebuilding operations during a time of significant growth,” said Darlene Carter, CEO of Cole West. “Chris has already overseen the development of more than 1,400 homes throughout his tenure with Cole West. His expertise, vision, and commitment to our team and local community are invaluable as we continue to expand our presence throughout the state.”“It has been a privilege to be part of Cole West’s evolution from a startup homebuilder to a leading, diversified real estate company in Utah, and I am honored to step into the role of Homebuilding President,” said Winter. “I appreciate our commitment to, and unwavering pursuit of, excellence through intentional design, quality craftsmanship, and a commitment to building communities that we can be proud of. We have some exciting projects in the works, and I look forward to helping shape these communities.”
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Builder confidence increases in May
The National Association of Home Builders (NAHB) released the NAHB/Wells Fargo Housing Market Index (HMI) for May 2026. The HMI is based on a monthly survey of single-family builders who are asked to rate three specific conditions of the housing market: present sales of new single-family homes, expected sales of single-family homes for the next six months and traffic of prospective buyers of new single-family homes. Builder confidence in the market for newly built single-family homes increased three points to 37 in May.
The survey revealed that 32% of builders cut prices in May, down from 36% in April. However, the use of sale incentives was up 61% in May, a slight increase from 60% in April.
Key factors that can impact the HMI include interest rates, employment rates, material costs and inflationary pressures.
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Cotality reports June U.S. home price insights
Cotality released the June 2026 U.S. home price insights. The report found that overall, the year-over-year home price increase remains relatively steady at 0.4%. However, the recent surge in mortgage rates has disrupted the spring homebuying season and reversed some of the affordability gains created by the lower rates seen throughout 2025.
“Market strength suggests that some buyers remain insulated from mortgage-rate volatility and are supported by substantial home equity and stock market gains,” said Cotality Chief Economist Dr. Selma Hepp. “Meanwhile, markets that depend more heavily on traditional mortgage financing and rate-sensitive buyers are seeing prices stay relatively flat. Overall, fewer markets posted year-over-year price declines in April than in prior months, pointing to continued stabilization across the housing market.”
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Taylor Morrison acquired in $8.5 billion deal
Announced on May 31, 2026, Berkshire Hathaway will acquire homebuilding giant, Taylor Morrison for $8.5 billion. The all-cash transaction values Taylor Morrison…
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