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  • Mungo Homes acquires rapidly growing McGuinn Homes

    Mungo Homes acquires rapidly growing McGuinn Homes

    Mungo Homes announced the acquisition of McGuinn Homes, a South Carolina-based homebuilder. In the past three years, McGuinn Homes posted a substantial increase in new home sales from 337 in 2023 to over 1,000 in 2025.

    McGuinn Homes’ presence in  Augusta, Georgia, and Aiken, South Carolina, was a driving factor in this strategic acquisition.

    Mungo Homes is a Clayton Home Building Group builder, owned by larger subsidiary Berkshire Hathaway.

    Berkshire Hathaway also recently acquired homebuilding giant Taylor Morrison in an $8.5 billion deal.  While on a considerably smaller scale, the sale of McGuinn Homes continues the increase of consolidation in the housing industry. Financial terms of the deal were not publicly disclosed.

    “We’re excited to join the Mungo family and continue our commitment to the markets we impact,” said Wade McGuinn, founder and managing shareholder of McGuinn Homes. “Together, we’re well positioned to provide more attainable homeownership opportunities through a shared commitment to customer service and operational excellence.”

    “The addition of McGuinn Homes to the Mungo family reflects our shared values of attainable homeownership, world-class team member experience, and giving back to the people and communities we serve,” said Keith Holdbrooks, chief executive officer of Clayton Home Building Group. “This acquisition allows both teams to come together and expand access to affordable homes in more markets while serving as a united force for good through volunteerism.”

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  • Cotality Chief Economist explains ‘geographic split’ in mid-2026 housing market

    Cotality Chief Economist explains ‘geographic split’ in mid-2026 housing market

    Cotality released its July 2026 U.S. home price insights report on July 7, 2026. According to the report, the U.S. housing market is building momentum. Following a steady two-year slowdown, home price appreciation accelerated in May, ticking up to an annual pace of 0.8% from April’s 0.6%. This acceleration indicates that beneath a seemingly frozen surface, local demand is aggressively testing the constraints of elevated mortgage rates.

    “The U.S. housing market in mid-2026 remains firmly entrenched in a geographic split, shaped fundamentally by an affordability gap and a wealth gap that continues to divide buyers across the nation,” said Cotality Chief Economist Dr. Selma Hepp.

    The report found an interesting shift in one of the nation’s housing markets. The West Coast landscape is being propelled by AI investments and newly minted tech wealth. San Francisco’s three-month metric reveals a striking reality: A staggering 7.6% of its 8.9% annual growth occurred in the last 90 days alone.

    “What we are witnessing is a profound segmentation of opportunity,” said Hepp. “Buyers who are well-insulated from mortgage rate volatility, bolstered by substantial accumulated home equity and robust wealth gains, are continuing to look at high-value regions like San Francisco, driving a strong near-9% annual rebound in a market that remains fundamentally healthy and structurally undervalued relative to long-term income baselines.”

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  • Mortgage rates average 6.43%

    Mortgage rates average 6.43%

    Freddie Mac released the results of its Primary Mortgage Market Survey on July 2, 2026, showing the 30-year fixed-rate mortgage (FRM) averaged 6.43%.

    “The 30-year fixed-rate mortgage eased slightly this week, averaging 6.43%,” said Sam Khater, Freddie Mac’s Chief Economist. “With rates at a seven-week low and purchase demand continuing to edge higher, it’s an encouraging sign as prospective homebuyers respond to modest improvements in affordability.”

    As of July 2, 2026, the FRM decreased from the week before, when it averaged 6.49%. A year ago at this time, the 30-year FRM averaged 6.67%. Meanwhile, the 15-year FRM averaged 5.79%, down from when it averaged 5.84%. A year ago at this time, the 15-year FRM averaged 5.80%.

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  • Home building employment concentrated in rural markets

    Home building employment concentrated in rural markets

    According to the National Association of Home Builders’ Home Building Geography Index (HBGI), residential construction is playing a larger role in rural and suburban markets. Among the seven HBGI categories, non-metro/micro counties recorded the highest concentration of residential construction employment.

    NAHB’s analysis of county-level data shows that the industry’s employment footprint is particularly large in rural and smaller-market counties, where home building accounts for a greater share of total employment than it does nationally. Large metro core counties are showing relatively lower employment concentration due to their more diversified economies, which are less dependent on home building activity.

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