Today’s News
Top Story
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Berkshire Hathaway now owns 10% stake in Lennar
A few weeks ago, we reported that Berkshire Hathaway doubled down on its housing market investment. This week, the company further sustained…
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A few weeks ago, we reported that Berkshire Hathaway doubled down on its housing market investment. This week, the company further sustained its ownership in Lennar, bringing its total ownership of the homebuilder to 10%.
According to SEC filings, the major conglomerate bought a mix of Class A and Class B shares from Sept. 17- 21.
This happened after Warren Buffett, who grew the company, stepped down as Chairman of the Board but will remain as Chairman Emeritus.
Berkshire Hathaway’s presence in the market continues through its ownership of Taylor Morrison and Clayton Homes, the modern manufactured homebuilder, which it acquired in 2003.
Despite the building industry facing major headwinds in affordability, this move aligns with the company’s history of placing trust in undervalued sectors and companies.
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Why you shouldn’t miss our upcoming webinar
In today’s shifting housing market, builders, architects and design-build firms face a shared strategic challenge: expanding project margins and revenue without overextending…
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In today’s shifting housing market, builders, architects and design-build firms face a shared strategic challenge: expanding project margins and revenue without overextending operational capacity. The solution increasingly lies in targeted, high-margin residential interventions—most notably specialized bathroom design and remodeling. Driven by surging demand for universal design, barrier-free living and aging-in-place functionality, bath renovations offer fast project turnarounds, reliable profitability and high-impact value.
Yet integrating or expanding specialized bath remodeling within a design or construction practice without a standardized framework can introduce scope creep, specification friction and costly execution errors. To bridge this gap, Bestbath is hosting an industry Lunch & Learn webinar, Building Your Bathroom Remodel Business, on Oct. 8, 2026.
Industry experts Michael Lunt of Bestbath and licensed contractor Blake Watson of Age-Proof Homes detail the practical mechanics of the trade. Participants will evaluate emerging macro trends, assess exact operational requirements and master field-proven strategies to leverage existing licenses, design teams and site crews without investing in new capital equipment.
For architects and builders seeking to capture lucrative market demand while safeguarding core operations, this session delivers an authoritative blueprint for sustainable business growth.
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U.S. home prices show signs of a steadying market
According to Redfin’s Home Price Index, U.S. home prices increased 0.25% month over month in August 2026 on a seasonally adjusted basis.…
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According to Redfin’s Home Price Index, U.S. home prices increased 0.25% month over month in August 2026 on a seasonally adjusted basis. This shows signs of an easing market, as this is slightly down from 0.26% in July and 0.27% in June. An easing price growth could potentially bring more buyers out from the sidelines.
The biggest increase in U.S. home prices was in St. Louis, where home prices rose 1.1% month over month on a seasonally adjusted basis, followed by Pittsburgh at 1%, San Antonio at 0.9%, San Jose, Calif., at 0.9% and Baltimore at 0.9%. St. Louis’ relatively affordable prices are attracting buyers and propping up prices, while San Francisco’s booming market is likely spilling over into San Jose.
Prices declined year over year in five major metros, four in Texas plus Seattle; Dallas had the biggest drop, followed by Austin, Fort Worth, San Antonio and Seattle. Prices ticked down since Texas has one of the largest buyers’ markets and sellers are likely easing prices as incentives.
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Single-family housing starts exceed estimate
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development released their Monthly New Residential Construction Report for August…
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The U.S. Census Bureau and the U.S. Department of Housing and Urban Development released their Monthly New Residential Construction Report for August 2026. Single-family housing starts totaled 918,000 in August, up 7.6% from the revised July figure of 853,000. Privately owned housing starts in August were at a seasonally adjusted annual rate of 1,275,000, down 2.6% from the revised July estimate.
Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,394,000, 2.7% below the revised July rate.
Privately-owned housing completions in August were at a seasonally adjusted annual rate of 1,128,000, 1.9% below the revised July estimate of 1,280,000 and 27.1% below the August 2025 rate of 1,548,000. Single-family housing completions in August were at a rate of 816,000; this is 10.4% below the revised July rate of 911,000.
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Unusual Angles Driving Innovative Results
When the landscape offers challenges, architects deliver answers “Some architecture relies on expensive materials, unusually shaped volumes or giant walls of glass,”…
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When the landscape offers challenges, architects deliver answers
“Some architecture relies on expensive materials, unusually shaped volumes or giant walls of glass,” said Michael Gale, AIA, LEED AP. “This home achieves beauty and comfortable living spaces through simple architectural expression and enjoyable experiences as you meander between those spaces.”
Sprawling over nearly four and a half acres, the View Angle House masterfully directs site design for intuitive living. The View Angle House challenges the obvious decision to build at the top of a hill.
Expressionist Architecture
In collaboration with civil engineer Humann Company and Environmental Foresight on landscape design, initial review of the landscape indicated that the most favorable views were at a 60-degree downhill angle.
Gale has a knack for this sort of design challenge. His background supports this ambition, having worked on internationally renowned projects such as the Guggenheim Museum in Bilbao, Spain.
His parti placed the main house functions in a long bar stretching across the site while angling the great room and primary suite at 60 and 30 degrees, respectively. With the bar’s retaining wall against the hillside, Gale shifted the garage further into the hill, creating an entry court. To the west of the home, a central circulation corridor with frosted glass and steel canopy separates the home gym from the main structure.
These decisions allowed the great room and primary suite to connect with the main structure while creating intimate sightlines of the landscape and outdoor living areas.
Element Execution
The 5,523-square-foot home takes direction from the land surrounding it, with vertical cedar siding in the portion inspired by hillside grasses. The two angled rooms are clad in stone and finished with off-center dynamic roofs to provide shade to the outdoor spaces.
Inside the great room, the 17-foot vaulted walnut-planked ceiling is juxtaposed by the exposed metal trusses, a balance of agrarian yet refined material choices. Gale noted that this element was both the most fun and fulfilling part to design.
“Although the house engages with the views outside at every moment, the steel trusses in the great room are about celebrating this particular moment of the interiors with a completely one-off structural solution,” said Gale.
Diamond Construction elegantly executed these elements. The great room also connects to the south infinity pool, outdoor kitchen and patio through dual multipanel sliding glass door systems; while openings to the north provide an exclusive view of the courtyard.
Economy of Design
These two key rooms provide a unique atmosphere of the home, but the rest of the project’s design is not overlooked. The home offers two kitchens, one indoor with an oversized island built for entertaining and an outdoor one for cooking poolside. Additionally, it is fitted with a climate-controlled wine room, dedicated office space and two additional bedrooms.
Gale’s reflection on the project is grounded in its economy of design, the art of maximizing spatial elements and functionality while delivering on value. For the View Angle House, it taught a larger lesson: that the simplest option is often not the most obvious. Expression is
The project’s ethos gained recognition at the 2026 Gold Nugget Awards, claiming the Grand Award for Best One-of-a-Kind Home.
“It is truly wonderful that the PCBC Golden Nugget Awards program recognizes the extraordinary efforts that go into the highest quality developer-driven homes,” said Gale. “When I work hard and the consultants and the builder all work hard and collaborate productively to make an amazing home, I’m so incredibly grateful that PCBC can see that and acknowledges that with an award.”
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 September, read the print version.
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U.S. home prices show signs of a steadying market
According to Redfin’s Home Price Index, U.S. home prices increased 0.25% month over month in August 2026 on a seasonally adjusted basis. This shows signs of an easing market, as this is slightly down from 0.26% in July and 0.27% in June. An easing price growth could potentially bring more buyers out from the sidelines.
The biggest increase in U.S. home prices was in St. Louis, where home prices rose 1.1% month over month on a seasonally adjusted basis, followed by Pittsburgh at 1%, San Antonio at 0.9%, San Jose, Calif., at 0.9% and Baltimore at 0.9%. St. Louis’ relatively affordable prices are attracting buyers and propping up prices, while San Francisco’s booming market is likely spilling over into San Jose.
Prices declined year over year in five major metros, four in Texas plus Seattle; Dallas had the biggest drop, followed by Austin, Fort Worth, San Antonio and Seattle. Prices ticked down since Texas has one of the largest buyers’ markets and sellers are likely easing prices as incentives.
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AIA/Deltek Architecture Billings Index reports modest growth in August
The American Institute of Architects (AIA) latest AIA/Deltek Architecture Billings Index posted a score of 47.2, indicating soft inquiries, contracts and project activity across the sector.
This is a slight increase from the July reporting of 46.6. Additionally, AIA reported that employment increased for architectural services by an estimated 700 positions.
Despite these modest gains, persistent inflation and high borrowing costs continue to weigh on the sector.
“Architecture firms are caught between stubborn inflation and higher borrowing costs,” said AIA Chief Economist Richard Branch. “The Federal Reserve’s latest rate increase may help ease inflationary pressures over time, but in the near term it adds another headwind for projects already facing a difficult financing environment.”
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Single-family housing starts exceed estimate
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development released their Monthly New Residential Construction Report for August 2026. Single-family housing starts totaled 918,000 in August, up 7.6% from the revised July figure of 853,000. Privately owned housing starts in August were at a seasonally adjusted annual rate of 1,275,000, down 2.6% from the revised July estimate.
Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,394,000, 2.7% below the revised July rate.
Privately-owned housing completions in August were at a seasonally adjusted annual rate of 1,128,000, 1.9% below the revised July estimate of 1,280,000 and 27.1% below the August 2025 rate of 1,548,000. Single-family housing completions in August were at a rate of 816,000; this is 10.4% below the revised July rate of 911,000.
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Berkshire Hathaway now owns 10% stake in Lennar
A few weeks ago, we reported that Berkshire Hathaway doubled down on its housing market investment. This week, the company further sustained its ownership in Lennar, bringing its total ownership of the homebuilder to 10%.
According to SEC filings, the major conglomerate bought a mix of Class A and Class B shares from Sept. 17- 21.
This happened after Warren Buffett, who grew the company, stepped down as Chairman of the Board but will remain as Chairman Emeritus.
Berkshire Hathaway’s presence in the market continues through its ownership of Taylor Morrison and Clayton Homes, the modern manufactured homebuilder, which it acquired in 2003.
Despite the building industry facing major headwinds in affordability, this move aligns with the company’s history of placing trust in undervalued sectors and companies.
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Homebuilding leaders call for reforms to boost construction
Home construction, banking and legislative leaders urged Congress to advance more reforms that would strengthen the housing market at a D.C. conference at the U.S. Chamber of Commerce.
Karen Purcell, head of Community Development Banking for Commercial Real Estate at JPMorgan Chase, pointed out that middle-class people have been priced out of the market in recent years, with the salary needed for a middle-income home doubling over five years to $124,000. This is a level only the top 30% of wage earners can achieve. Meanwhile, 169 out of 390 U.S. metros do not have enough housing stock at that level.
One of the reforms includes pushing for changes to the Low Income Housing Tax Credit, a tool that helps finance affordable housing development with federal tax breaks. Allowing it to be transferable would encourage more investors to put money behind the credit that developers can use.
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Cole West recognized by Utah Governor for housing leadership
Utah Governor Spencer J. Cox recognized Cole West, one of the nation’s fastest-growing homebuilders, with the Utah First Homes Award.
Under Cox’s leadership, the state is actively supporting housing development to address ongoing affordability challenges. The Utah First Homes Award recognizes private-sector partners, like Cole West, to expand the supply of attainable housing.
Cole West delivers entry-level, multifamily and move-up homes across Utah and Dallas, Texas.
“We are very honored to receive this recognition from Governor Cox. Homebuyers are at the heart of everything we do and we believe every generation of Utahns deserves the opportunity to own a home and build a future here,” said Colin Wright, Founder of Cole West. “Addressing housing affordability takes collaboration and we’re proud to work alongside state and local partners to find creative ways to bring more attainable homes within reach for Utah families.”
An upcoming community from the builder, Amara, was developed in partnership with Utah’s Trust Lands Administration and Washington City. The project will add an estimated 212 attainable single-family homes, priced at $450,000 or less to the region’s housing supply.
“As you know, housing affordability is one of my top priorities. I am proud to recognize Cole West for your partnership with Washington City and SITLA,” said Governor Spencer J. Cox in a letter to Cole West. “Your progress serves as a model for other builders and ensures Utah remains a place where people can live, work, and build a future. Thank you for your leadership. We are deeply grateful for your continued commitment to addressing Utah’s housing needs.”
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September builder confidence at 32
In the September National Association of Home Builders (NAHB) /Wells Fargo Housing Market Index (HMI), builder confidence fell three points from August to 32.
This is the lowest recorded report since September 2025.
NAHB Chief Economist Robert Dietz noted that this is likely a continuation of headwinds facing the homebuilding industry: building materials costs rising, elevated mortgage rates and labor concerns.
With buyers more discerning, builders continue to offer incentives, up 3% from August. The HMI survey also reported that more builders cut prices than in August, but only by 1%.
Regionally, the Midwest remains the strongest market despite dropping one point to 44. The Northeast saw the greatest decline, from 44 to 38. The South and the West remained fairly stagnant, with the South falling one point (31) and the West gaining one (28).
With the Fed raising interest rates on Sept.16, 2026, builder buying power may also take a hit.
“The HMI shows builder confidence at its lowest level since September 2025, as tight lending conditions and elevated land, labor and construction costs persist,” said Dietz. “Notably, 42% of builders rated current lot availability as poor and 38% as fair.”
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Mortgage rates average 6.76%
The 30-year fixed-rate mortgage (FRM) averaged 6.76%, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS). Freddie Mac released the most recent PMMS results on Sept. 10, 2026.
The current FRM is up from the previous week’s average of 6.71%. A year ago at this time, the 30-year FRM averaged 6.35%.
The 15-year FRM averaged 6.09%, up from the week before when it averaged 6.04%. A year ago at this time, the 15-year FRM averaged 5.50%.
“The 30-year fixed-rate mortgage averaged 6.76% this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Aspiring buyers should remember shopping around for the best mortgage rate and getting multiple quotes can potentially save them thousands.”
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Mortgage applications decline in August
Mortgage application activity continued to decline in August, as shown in the Mortgage Bankers Association’s (MBA) Market Composite Index, a measure of total mortgage application volume. The MBA declined 3.2% month-over-month in August on a seasonally adjusted basis, marking the sixth consecutive monthly decline. Compared to a year ago, total mortgage applications declined 9.1%.
Applications for adjustable-rate mortgages (ARMs) and fixed-rate mortgages (FRMs) decreased 0.6% and 3.4% month-over-month, respectively. Compared with a year earlier, ARM application volume fell 18.2%, while FRM applications declined 8.2%.
Average loan sizes also declined across all categories last month, with the overall loan size decreasing 2.3% to $375,300.
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The trends defining living room design
Living room design is shifting away from the perfect polished look and towards a warmer, lived-in style. Jeannine Bogart, design principal and founder of Epic Interiors, said that built-in storage, warm and neutral layers, softer layouts and darker accents will take center stage in 2027’s living rooms.
According to Bogart, living rooms are working harder than ever now, prompting the need for increased storage.
“They hold books, media, work items, games and family clutter, so storage needs to be better integrated,” said Bogart. “Built-ins will continue to be popular because they make a room feel more intentional while hiding the things people actually live with.”
Bogart said she is also expecting the color palettes to shift away from cold and sterile whites and grays and towards richer, warmer tones, such as taupe or soft brown. Additionally, incorporating a darker color palette will serve as a contrast that adds richness and depth to a space.
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Unusual Angles Driving Innovative Results
When the landscape offers challenges, architects deliver answers
“Some architecture relies on expensive materials, unusually shaped volumes or giant walls of glass,” said Michael Gale, AIA, LEED AP. “This home achieves beauty and comfortable living spaces through simple architectural expression and enjoyable experiences as you meander between those spaces.”
Sprawling over nearly four and a half acres, the View Angle House masterfully directs site design for intuitive living. The View Angle House challenges the obvious decision to build at the top of a hill.
Expressionist Architecture
In collaboration with civil engineer Humann Company and Environmental Foresight on landscape design, initial review of the landscape indicated that the most favorable views were at a 60-degree downhill angle.
Gale has a knack for this sort of design challenge. His background supports this ambition, having worked on internationally renowned projects such as the Guggenheim Museum in Bilbao, Spain.
His parti placed the main house functions in a long bar stretching across the site while angling the great room and primary suite at 60 and 30 degrees, respectively. With the bar’s retaining wall against the hillside, Gale shifted the garage further into the hill, creating an entry court. To the west of the home, a central circulation corridor with frosted glass and steel canopy separates the home gym from the main structure.
These decisions allowed the great room and primary suite to connect with the main structure while creating intimate sightlines of the landscape and outdoor living areas.
Element Execution
The 5,523-square-foot home takes direction from the land surrounding it, with vertical cedar siding in the portion inspired by hillside grasses. The two angled rooms are clad in stone and finished with off-center dynamic roofs to provide shade to the outdoor spaces.
Inside the great room, the 17-foot vaulted walnut-planked ceiling is juxtaposed by the exposed metal trusses, a balance of agrarian yet refined material choices. Gale noted that this element was both the most fun and fulfilling part to design.
“Although the house engages with the views outside at every moment, the steel trusses in the great room are about celebrating this particular moment of the interiors with a completely one-off structural solution,” said Gale.
Diamond Construction elegantly executed these elements. The great room also connects to the south infinity pool, outdoor kitchen and patio through dual multipanel sliding glass door systems; while openings to the north provide an exclusive view of the courtyard.
Economy of Design
These two key rooms provide a unique atmosphere of the home, but the rest of the project’s design is not overlooked. The home offers two kitchens, one indoor with an oversized island built for entertaining and an outdoor one for cooking poolside. Additionally, it is fitted with a climate-controlled wine room, dedicated office space and two additional bedrooms.
Gale’s reflection on the project is grounded in its economy of design, the art of maximizing spatial elements and functionality while delivering on value. For the View Angle House, it taught a larger lesson: that the simplest option is often not the most obvious. Expression is
The project’s ethos gained recognition at the 2026 Gold Nugget Awards, claiming the Grand Award for Best One-of-a-Kind Home.
“It is truly wonderful that the PCBC Golden Nugget Awards program recognizes the extraordinary efforts that go into the highest quality developer-driven homes,” said Gale. “When I work hard and the consultants and the builder all work hard and collaborate productively to make an amazing home, I’m so incredibly grateful that PCBC can see that and acknowledges that with an award.”
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 September, read the print version.
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The new trends defining fall’s luxury interiors
Restrained color palettes have defined luxury interiors for years. This fall, however, interior design is shifting towards warmer and darker tones.
Pale white oak and bleached finishes are being replaced by walnut, espresso oak and other rich brown woods. It is no secret why; dark wood introduces depth into a space, especially against ivory upholstery, travertine, alabaster or warm white walls. Rather than feel heavy, it feels intentional.
The traditional fall decor is easily recognizable with oranges, rusts and browns. However, this year is becoming more nuanced, moving toward richer, earthy tones. Cinnamon, caramel, tobacco and ochre bring warmth into a home. Oxblood, merlot and burgundy introduce a deeper, more dramatic note and could serve as a rich contrast. Mineral greens, earthy clays and muted purples round out the palette, creating interiors that feel distinctly autumnal without relying on the traditional autumn palette.
One of the biggest design shifts in luxury interiors is in materials. Velvet, silk, mohair, fine wool, carved wood, natural stone, antiqued metal and textured plaster are all gaining momentum as interiors embrace a more tactile approach to luxury.
Reflective surfaces are also being used strategically to introduce light, movement and dimension into these emerging deeper interiors.
Exclusive Feature
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A More Balanced Market is Here
The housing market finally feels more normal. Buyers have more choices, bidding wars have become less common and builders are once again…
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Fischer Homes taps new President
Fischer Homes, a privately held homebuilder operating in 11 markets, announced Jason Finch as its president.
This decision is part of a broader leadership restructure and divides the president and chief operating officer roles into two positions. The COO, Jay Smith, will continue in his position.
Finch first joined the company in 2013 and most recently served as region president for the South Region. He will now oversee the builder’s growth strategy.
“Jason has consistently demonstrated the leadership, business judgment and ability to develop strong teams that this role requires,” said Tim McMahon, CEO of The Fischer Group. “He understands how to turn strategy into results while keeping people at the center of the business. His talent, experience and proven record make him the right leader to guide Fischer Homes through its next phase of growth.”
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Mortgage rates average 6.76%
The 30-year fixed-rate mortgage (FRM) averaged 6.76%, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS). Freddie Mac released the most recent PMMS results on Sept. 10, 2026.
The current FRM is up from the previous week’s average of 6.71%. A year ago at this time, the 30-year FRM averaged 6.35%.
The 15-year FRM averaged 6.09%, up from the week before when it averaged 6.04%. A year ago at this time, the 15-year FRM averaged 5.50%.
“The 30-year fixed-rate mortgage averaged 6.76% this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Aspiring buyers should remember shopping around for the best mortgage rate and getting multiple quotes can potentially save them thousands.”
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Fed raises rates for the first time in 3 years
On Sept. 16, 2026, the Federal Reserve increased its benchmark interest rate target range by 25 basis points to 3.75%–4.00%.
This bump is not a shock, as many economists predicted the Fed would increase rates to combat rising inflation. However, this is the first rate hike since July 26, 2023.
The unanimous decision to raise rates is the first real movement in nearly a year, holding steady throughout 2026 after the last cut in December 2025.
Federal Reserve Chairman Kevin Warsh described this decision in the post-decision press conference as a step to deliver a timelier return to the Fed’s 2% inflation goal.
Warsh also noted that despite the geopolitical landscape of shock and uncertainty, the FOMC remains optimistic for economic returns.
However, there is a question of whether short-term rate hikes address the core drivers of inflation.
“While a 25 bps rate hike would reinforce the Fed’s commitment to price stability and help address credibility concerns, it is less clear that higher short-term rates can meaningfully reduce inflation driven by supply constraints and capital-intensive investment trends,” said Selma Hepp, PhD, Cotality Chief Economist and Builder and Developer contributor. “The bigger question is whether the Fed risks fighting the wrong inflation battle.”
“With the Fed hiking rates for the first time since 2023 on a unanimous 12–0 vote, even its own economists think inflation gets worse before it gets better,” said Patrick Duffy, Principal, MetroIntelligence and Builder and Developer contributor.
Impact on the Residential Construction Industry
For homebuilders, the decision could reinforce constraints on both housing production and the buyer market.
The September National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reported that builder confidence is down to 32, with mortgage application volume falling 3.2% in August.
“Today’s rate hike will have a limited effect on mortgage rates, but it will increase the cost of financing for builder and land developer loans, which are more directly connected to short-term interest rates including the funds rate,” said Robert Dietz, PhD, NAHB Chief Economist and Senior Vice President for Economics and Housing Policy. “This will increase construction costs and add to housing affordability challenges.”
“A rate hike is unlikely to lower gasoline prices, reduce tariff-related costs, or accelerate homebuilding, but it would further dampen housing demand and delay a broader market recovery,” added Hepp. “For the housing market, the key challenge is that mortgage rates remain highly sensitive to Fed communication, even though they are increasingly driven by long-term Treasury yields rather than the federal funds rate itself.”
Throughout the year, volume builders have combated buyer affordability concerns with price cuts, incentives and rate buydowns.
“For the housing market already facing slower sales, this is a “higher for longer” signal, which benefits those builders who can offer mortgage rate buydowns while still retaining positive profit margins,” Duffy suggested. “If there is a silver lining, it’s that a stronger job market supports housing demand even as borrowing costs stay elevated.”
Latest Issue
Sept 2026
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This issue of Builder and Developer features the Award Winning Architecture and Design.
Exclusive Feature
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Redefining the Single-Story Home Design
Tri Pointe Homes continues to set the standard for high-quality houses For 17 years, Tri Pointe Homes has built 330 neighborhoods and…
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Select markets see stronger housing growth
According to the September 2026 U.S. Home Price Insights report from Cotality, national home price growth remained modest, rising 1.4% year over year. Mortgage rates continue to impact the housing market, as July experienced a cooldown.
However, as Cotality’s Chief Economist Dr. Selma Hepp points out, beneath the headline numbers, momentum is shifting meaningfully. Select markets experiencing sharper price slowdowns have seen stronger growth in active inventory.
“As we move through the remainder of the year, local labor market dynamics and affordability constraints will continue to shape housing market performance as much as broader macroeconomic shifts, especially the direction of mortgage rates,” said Hepp.
Hepp said that several high-cost coastal markets, which previously posted strong yearly gains, are now showing near-term weakness. San Francisco was up 7.0% year over year, but prices fell 1.4% month over month.
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Mortgage rates reflect buyers adapting to market conditions
Freddie Mac released the results of its Primary Mortgage Market Survey on Sept. 3, 2026, revealing that the 30-year fixed-rate mortgage (FRM) averaged 6.71%. The FRM remains stable, reflecting homebuyers’ adaptation to current market conditions.
“The 30-year fixed-rate mortgage averaged 6.71% this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Purchase demand has remained relatively stable, indicating steady interest from buyers adapting to evolving market conditions.”
The 30-year FRM is up from the week before when it averaged 6.66%. A year ago at this time, the 30-year FRM averaged 6.50%.
The 15-year FRM averaged 6.04%, up from 5.98% the previous week. A year ago at this time, the 15-year FRM averaged 5.60%.
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Report from the show floor: BIS 2026
Builder Media is a proud sponsor of the Building Industry Show (BIS) 2026.
Presented by the Building Industry Association of Southern California (BIASC) at Renaissance Esmeralda Resort & Spa in Indian Wells, California, this show brings together the homebuilding industry for unparalleled networking opportunities, featuring renowned keynote speakers, fostering invaluable connections and much more.
We thank everyone who attended our booth, where we were pleased to announce our latest magazine issues: the September issue of Builder and Developer, the September/October issue of American Infrastructure and the fall issue of Residential Contractor.
The show floor was thrumming with life, featuring regular contributors to Builder and Developer, such as HomeAid’s Scott Larson.
Thank you to everyone who came to our booth and for the great turnout for BIS 2026.
We’ll see you next year.
Cheers!
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July residential construction spending cools to $859 billion
Private residential construction spending dipped again in July, marking the fourth consecutive month of decline. According to analysis of the U.S. Census Bureau’s latest construction spending data, the seasonally adjusted annual rate (SAAR) of spending was $859.0 billion in July.
This is down 1.3% from the previous month’s estimate and down 7.3% year over year.
Looking at each market, single-family construction spending decreased 3.2%. The National Association of Home Builders, in its analysis, noted that this aligns with the builder sentiment posted in August.
Throughout 2026, builder confidence remained below the 50 index of neutral, as single-family spending reported a 6.5% year-over-year decline.
While multi-family and renovation reported modest month-to-month results, both declined compared to 2025 results.
“The index illustrates how spending on single-family construction has slowed since early 2024, reflecting the impacts of elevated interest rates and ongoing uncertainty over building material tariffs,” said NAHB Forecasting and Analysis economist Catherine Koh.
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Cross Creek West expands with luxury offerings
Cross Creek West, a 1,258-acre master-planned community in Fulshear, Texas, announced the start of its north phase of development.
With this next stage, the community is introducing new builders, David Weekley Homes, Toll Brothers and Partners in Building, who will offer 65-, 70- and 80-foot-wide homesites.
The developer expects to add 250 homesites by the end of the year and over 3,000 homes at total build-out.
“With over 160 home sales this year, Cross Creek West has grown quickly, and this new phase will meet that demand,” said Sam Seligmann, Vice President and General Manager of Cross Creek West. “Earlier this year, we expanded our floor plan portfolio by introducing two of the five new builders, Coventry Homes and Ravenna Homes. With the newest addition of builders in our north tract being David Weekley Homes, Toll Brothers and Partners in Building.”
Toll Brothers will deliver six floor plans with four distinct elevations per plan for 65-foot homesites.
Partners in Building will offer the community’s new 80-foot homesites for custom homes.
David Weekley Homes will introduce plans from its new Texas series for 65-foot homesites.
Other builders in the community with new offerings include Highland Homes, Newmark Homes, Ravenna Homes, Coventry Homes, Perry Homes and Westin Homes.
Photo depicts Toll Brothers’ new offering in Cross Creek West
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David Weekley Homes introduces new executives
David Weekley Homes announced two new additions to its C-suite. The company’s first-ever Chief Marketing Officer, Julian Duncan and Adam Zylman joined the team as Chief Financial Officer.
Both new hires are Rice University alumni with Houston roots.
“Adam and Julian bring tremendous experience that will be valuable as we continue to grow David Weekley Homes,” said Jay Brown, Chief Executive Officer of David Weekley Homes. “Adam’s experience investing in and building businesses will bring valuable perspective to our financial strategy. Julian’s experience building brands and connecting with customers will strengthen our marketing. They both put people and culture first, which makes them a great fit for Weekley.”
Duncan brings to the company experience leading global brands, including the Houston Rockets, where he previously served as Chief Marketing and Strategy Officer.
Zylman will take over as CFO as Heather Humphrey prepares to retire after a 33-year tenure with the builder. Zylman brings to the company two decades of financial planning leadership.
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San Diego home sales exceed last year’s
According to new Redfin data, San Diego homes are selling faster than they did in 2025. The typical San Diego home has been in 32 days after being listed, eight days fewer than last year. Single-family homes are selling the fastest.
“A desirable single-family home may draw competing offers, while a condo, townhouse or other attached property may sit longer because of higher HOA fees, insurance costs or upcoming assessments,” said Redfin principal agent Rebecca Roman Stevens.
California is among the three states leading in home sales, specifically in the luxury home market.
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HBGI Q2 2026 reveals geographical trends in residential construction
According to the Home Building Geography Index (HBGI), announced on Sept. 1, 2026, home building trends diverged across geographies in Q2. While single-family construction declined in nearly all geographic categories, multifamily construction expanded across six of the seven categories. Activity was increasingly concentrated in large metro cores and suburban counties.
The decrease in single-family construction in the second quarter eased as these geographies contracted at a slower pace than the previous quarter. Outlying counties in small metro areas reported growth, increasing by 0.9% following four consecutive quarterly declines. The geographic composition of single-family construction continued to shift toward smaller and less densely populated markets in Q2.
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Registration now open for Design & Construction Week
Registration is now open for the 14th Annual Design & Construction Week (DCW). DCW includes the National Association of Home Builders’ (NAHB) International Builders’ Show® (IBS) and the National Kitchen and Bath Association (NKBA) Kitchen & Bath Industry Show (KBIS).
The largest trade show for the residential design and building industry will take place from Feb. 2-4, 2027, at the Las Vegas Convention Center.
NAHB estimates over 120,000 attendees with educational opportunities spanning 120 sessions across nine education tracks and 2,350 exhibiting brands at IBS 2027.
“The International Builders’ Show is where the housing industry comes together to shape the future of home building. Whether you’re looking to discover the latest innovations, gain valuable business insights or build relationships with industry leaders, there is simply no substitute for being at IBS,” said NAHB Chairman Bill Owens. “If you want to stay competitive and connected in today’s evolving market, this is the event you can’t afford to miss.”
NKBA will present its show programming, including the NEXTStage, the Design & Industry Awards and an enhanced Voices From the Industry (VFTI) conference. The association expects more than 600 exhibitors at KBIS 2027.
“Our industry grows more interconnected and global each day and KBIS 2027 embodies that momentum,” said Bill Darcy, Global President & CEO of NKBA|KBIS. “As the hub uniting our industry, NKBA is excited to return to Las Vegas for an experience designed to build upon, and exceed, the energy and optimism of last year’s show. We’re committed to helping our community forge connections, discover new opportunities and drive business growth.”
Exclusive Feature
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Toll Brothers’ Strategy and Style
Inside the builder’s executive evolution and dignified design Since we last featured Toll Brothers as our 2025 Builder of the Year, the…
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