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U.S. housing starts hit one-year low; building permits tumble
WASHINGTON (Reuters) - U.S. homebuilding fell to a one-year low in September as Hurricanes Harvey and Irma disrupted the construction of single-family homes in the South, suggesting housing probably remained a drag on economic growth in the third quarter.
WRAPUP 2-U.S. housing starts hit one-year low; building permits tumble
WASHINGTON, Oct 18 (Reuters) - U.S. homebuilding fell to a
one-year low in September as Hurricanes Harvey and Irma
disrupted the construction of single-family homes in the South,
suggesting housing probably remained a drag on economic growth
in the third quarter.
US homebuilder sentiment rises in October
U.S. homebuilders are feeling better about their sales prospects than they have in months, despite a recent slowdown in sales of new homes and the likelihood of higher labor and materials costs following hurricanes Harvey and Irma
UPDATE 4-Wildfires kill 15, damage 1,500 homes in California wine country
SANTA ROSA, Calif., Oct 10 (Reuters) - Fast-moving wildfires
burning across Northern California's wine country had claimed at
least 15 lives by Tuesday afternoon and destroyed an estimated
1,500 homes and commercial buildings, according to the
California Department of Forestry and Fire Protection.
Lessor BOC Aviation looks for new homes 13 aircraft after Monarch collapse
SINGAPORE, Oct 3 (Reuters) - Asia's second-biggest aircraft
lessor, BOC Aviation Ltd, said on Tuesday it was
working to find new homes for 13 Boeing Co 737 MAX 8
aircraft it had planned to lease to collapsed British carrier
Disney, Altice reach deal that avoids ABC, ESPN blackout
Walt Disney and cable operator Altice USA reached a tentative programming deal that keeps ESPN and other networks in the homes of millions of New York-area pay TV customers, the companies said in a statement on Sunday.
Disney, Altice reach deal that avoids ESPN blackout
LOS ANGELES (Reuters) - Walt Disney Co and cable operator Altice USA reached a tentative programing deal that keeps ESPN and other networks in the homes of millions of New York-area pay TV customers, the companies said in a statement on Sunday.
This Week: New home sales, Jabil's earnings, US GDP estimate
A look at some of the key business events and economic indicators upcoming this week: HOUSING MARKET BAROMETER Economists expect that sales of new U.S. homes rebounded in August after falling sharply the previous month.
Dow ends at record as stocks post mixed finish
U.S. equity indexes finished the day mixed, with the Dow Jones Industrial Average closing at a record, while the S&P 500 and the Nasdaq Composite slipped to lower levels. The Dow, helped by gains in the industrials and healthcare sectors, rose 0.2% to 22,207. The S&P 500, on the other hand, was dragged down by poor performances of healthcare and consumer discretionary stocks, finishing the day 0.1% lower at 2,496. The tech-heavy Nasdaq Composite fell 0.5% to 6,429. In individual stocks, Equifax fell 2.4% lower following the disclosure of a massive data breach last week. Home builder William Lyon Homes fell 5.8% as hedge fund Paulson&Co said it would divest its stake in the business.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Lenders, investors breathe easier as U.S. hurricane waters recede
NEW YORK, Sept 11 (Reuters) - Financial institutions with
exposure to U.S. properties hit by Hurricanes Harvey and Irma
are tempering their loss estimates, as the damage to homes and
businesses has been far less severe than expected.
Vodafone to spend 2 bln euros on German fibre network
* Ups pressure on rivals to upgrade slow German internet service. * Investments to pay for themselves in 4-6 years. * Vodafone's (VOD) 7 pct dividend yield seen safe - analysts. Vodafone (VOD) is to spend about 2 billion euros on providing new ultrafast fibre broadband connections to homes and businesses in Germany, throwing down the gauntlet to rivals, including former state-owned monopoly Deutsche Telekom.
Weakening but still potent Irma aims full force at Florida's Gulf Coast
A weakening but still potent Hurricane Irma lashed Florida's Gulf Coast on Sunday with tree-bending winds, pounding rain and surging surf, leaving millions of homes and businesses without power while flooding streets and swaying skyscrapers across the state in Miami.
Nashville's Answer To Flood-Proofing Homes? Tear Them Down
Since 2010, Nashville has bought 261 flooded homes and hopes to acquire 90 more. The city offers homeowners fair market value, then demolishes the houses and return the land to a more natural state.
BRIEF-LGI Homes closed 596 homes in August 2017
LGI Homes Inc(LGIH) - * 596 homes closed in August 2017, up from 383 home closings in August 2016. * In addition, LGI announced damage to its communities from Hurricane Harvey has been minimal and, all of its employees are safe. * LGI Homes Inc (LGIH) says as of end of August 2017, company had 76 active selling communities.
UPDATE 10-Search goes on for Harvey survivors, new evacuations in Houston
ORANGE, Texas/HOUSTON, Sept 1 (Reuters) - Rescuers searched
painstakingly through flooded neighborhoods across southeastern
Texas on Friday for people stranded by Hurricane Harvey's deluge
as Houston's mayor warned residents of the city's west side that
their homes may not dry out for weeks.
Solar power deal will lower social tenants' energy bills
Private-sector investment from the Netherlands will see 800,000 homes get solar panels.
UPDATE 8-Rescuers search Harvey-soaked Texas, new evacuations in Houston
ORANGE, Texas/HOUSTON, Sept 1 (Reuters) - Rescuers searched
flooded sections of southeastern Texas for people stranded by
Hurricane Harvey's deluge on Friday and Houston's mayor warned
residents of the city's west that their homes may remain
waterlogged for two weeks.
Trump to pledge $1 million to Harvey relief efforts: White House
President Donald Trump is committed to giving $1 million to Hurricane Harvey relief efforts, White House press secretary Sarah Huckabee Sanders said Thursday. She said Trump wants input from reporters to which charities he will donate. At the same briefing, Trump's homeland security adviser said 100,000 homes were damaged by the storm and that the administration will request emergency aid from Congress. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
AP Exclusive: Flood insurance policies plunged before Harvey
Houston's population is growing quickly, but when Harvey hit last weekend there were far fewer homes and other properties in the area with flood insurance than just five years ago, according to an Associated Press investigation.
Alexa allies with Cortana to take on Google Assistant, Siri
(Reuters) - Amazon.com Inc and Microsoft Corp have joined forces to let their voice-controlled virtual assistants talk to each other, offering users the ability to seamlessly tap into work, their homes and shop online.
Motorhome makers in focus amid Harvey destruction
Makers of RVs and motorhomes rallied on Monday, as investors anticipated higher demand in the wake of Hurricane Harvey’s destruction.
Over 200,000 Fannie Mae, Freddie Mac-backed homes in Harvey's path
More than 200,000 homes with mortgages guaranteed by Fannie Mae (FNMA) and Freddie Mac (FMCC) are in areas hit by Hurricane Harvey, the most powerful storm in Texas in more than 50 years, the mortgage agencies said on Monday. These figures were preliminary as more homes will likely be impacted this week as Harvey is forecast to bring more flooding to these areas.
Houston devastated by flooding from Harvey as residents gird for days of rain
* At least two dead from storm. * Storm strikes at heart of U.S. oil and gas industry. * Hospital evacuated, airports shut. * Houston residents told to climb on roof if homes flood. By Ruthy Munoz and Gary McWilliams.
Home-builders ETF down after new-home sales data
Exchange-traded funds that track home-building stocks fell on Wednesday, after data showed that new-home sales fell 9.4% in July, a steeper fall than had been expected. The SPDR S&P Homebuilders ETF lost 0.9%, while the iShares U.S. Home Construction ETF was down 0.5%. The SPDR fund remains up more than 10% in 2017, although it has dropped 3.5% over the past month. Sales of newly constructed homes were at a seasonally adjusted annual rate of 571,000, the Commerce Department said Wednesday. That represented a seven-month low, and it was under the 608,000 pace that had been forecast. The sector was also pressured by Lowe's Companies Inc. , which fell 5.7% in the wake of lower-than-expected results. Home Depot fell 1.5%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Toll Brothers profit beats estimates as sales fall slightly short
Homebuilder Toll Brothers Inc. said Tuesday it had net income of $148.6 million, or 87 cents a share, in the third quarter to end July, up from $105.5 million, or 61 cents a share, in the year-earlier period. Revenue rose to $1.50 billion from $1.27 billion. The FactSet consensus was for EPS of 69 cents and revenue of $1.51 billion. Deliveries rose 26% to 1,899 units. The average price of homes delivered was $791,400, compared to $842,700 a year ago, mostly due to an expected change in mix. The company said it now expects to deliver between 7,000 and 7,300 homes in fiscal 2017, up from earlier guidance of 6,950 to 7,450 units, at an average delivered price of $800,000 to $825,000 a home. Shares fell 0.7% premarket, but have gained 23.4% in 2017, while the S&P 500 has gained 8.4%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
FedEx will not charge extra for most holiday home deliveries
- FedEx Corp (FDX) said on Thursday it will not charge customers extra fees for most packages delivered to homes during the peak holiday shopping season this year, challenging rival United Parcel Service, which plans more widespread peak-season surcharges.
U.S. pending home sales rise; Midwest factory activity slows
WASHINGTON (Reuters) - Contracts to buy previously owned U.S. homes rebounded in June after three straight monthly declines, but the housing market remained constrained by a shortage of properties available for sale.
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