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With mortgage rates declining by more than one-half of a percentage point from early August through mid-September, per Freddie Mac, builder sentiment edged higher this month even as builders continue to grapple with rising costs.
Builder confidence in the market for newly built single-family homes was 41 in September, up two points from a reading of 39 in August, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). This breaks a string of four consecutive monthly declines.
Due to lower interest rates, builders now have a positive view for future new home sales for the first time since May 2024. However, builders will face competition from rising existing home inventory in many markets as the mortgage rate lock-in effect softens with lower rates.
With inflation moderating, the Federal Reserve is expected to begin a cycle of monetary policy easing this week, which will produce downward pressure on mortgage interest rates and also lower the interest rates on land development and home construction business loans. Lowering the cost of construction is critical to confront persistent challenges for housing affordability.
The latest HMI survey also revealed that the share of builders cutting prices dropped in September for the first time since April, down one point to 32%. Moreover, the average price reduction was 5%, the first time it has been below 6% since July 2022. Meanwhile, the use of sales incentives fell to 61% in September, down from 64% in August.
Derived from a monthly survey that NAHB has been conducting for more than 35 years, the NAHB/Wells Fargo HMI gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.
All three HMI indices were up in September. The index charting current sales conditions rose one point to 45, the component measuring sales expectations in the next six months increased four points to 53 and the gauge charting traffic of prospective buyers posted a two-point gain to 27.
Looking at the three-month moving averages for regional HMI scores, the Northeast fell three points to 49, the Midwest edged one-point higher to 40, the South decreased one point to 41 and the West increased two points to 39.
The HMI tables can be found at nahb.org/hmi.
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Fall days are still long and bright enough to make being outside pleasant but cooler than the summer heat, so the idea of taking on a landscape project is inviting. If you’re looking for ways to take advantage of fall days and also get a jump on gearing up for winter or spring projects, think about what you loved about your landscape over the past few months. What could use some improvements and what might be a good idea to tackle before winter closes in? Below are eight ideas that can give you a head start.
Some of these are fairly simple. Others might take more time and require help from professionals. If you’re looking at building projects, check first with local pros about availability and timelines, especially if cold weather will curtail further progress. You’ll also need to check local regulations and requirements for required permits, as they can vary widely for even small projects.
This article was originally published by a www.houzz.com . Read the Original article here. .
Warm-winter climates. Many bulbs, including favorites such as daffodils and tulips, require the winter chill to bloom. If you live in a warmer area, you’ll need to buy your bulbs early in the season and chill them in your refrigerator for six weeks before planting.
While some bulbs that need a colder winter may rebloom when planted in the garden, many will produce only leaves in subsequent years. To get a good show, consider treating bulbs like annuals.
Cold-winter climates. Winter chill isn’t an issue for cold-hardy bulbs, but freeze-and-thaw cycles can damage them. If the ground won’t be covered in snow or frozen, provide a layer of mulch.
You may also need to dig up tender bulbs such as canna lilies, dahlias and gladioluses, and overwinter them in a cool, dry location.
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As the air turns crisp and the leaves change from green to amber, red and gold, you may find yourself wanting to linger a little longer on the porch and savor that glowing autumn light. From clusters of candles to cozy wool blankets, here are eight ways to help create a comfortable, welcoming porch that says, “Fall is here.”
Tuck Wool Blankets Around Lounge Chairs
Plaid wool throws folded neatly atop the seat cushions of lounge chairs look crisp and cozy. And when you want to enjoy your porch just a little bit longer in the evening, all you need to do is pull up a blanket and snuggle in.
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Go Wild With Candlelight
Why stop with just one or two candles when you can have 10 or 20? Cluster them together on a tray or metal side table, and the glow they cast will instantly boost the evening ambiance on your porch. For safety, consider choosing battery-operated candles — some look very realistic!
Cozy Up the Hammock
Help your hammock look right at home as the leaves begin to fall by boosting its comfort level with a smattering of pillows and a super-soft throw. Then just swap out your summer iced tea for a mug of hot apple cider, and you’ll be happily swinging and swaying until the first flakes fly.
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Display Pumpkins in Subtle Hues
If you want to get a jump on fall porch decorating but it’s a little early for full-on Halloween, consider picking up some pumpkins and gourds in a more subtle color palette. Silvery green, white and pale orange pumpkins are beautiful and elegant, and they don’t scream “fall” so much as whisper it.
Carry Out Some Quilts
If you have an enclosed porch and don’t need to worry about textiles being damaged in bad weather, consider bringing out a few thick quilts to drape over the seating. The colors and patterns (not to mention the warmth) will be most welcome as you sit and watch the leaves drop.
8 Screened-In Porches for Watching the Seasons Change
Create a Luxurious Mood With Orchids and Throws
If you live in the city or lean more modern in your taste, there are plenty of ways to cozy up your porch without overdosing on mums and jack-o’-lanterns. Instead, try a rich plum-colored throw and pillows, plus a potted orchid on the coffee table. It’s simple, elegant and easy to pull off.
Light a Fire
If you’re lucky enough to have a working outdoor fireplace on the porch, fall is the perfect time to make use of it. Just be sure to schedule cleaning and maintenance before lighting it for the first time this season — buildup from previous fires, as well as debris or old animal nests, can cause a chimney fire.
Pros Share 8 Design Tips for Screened-In Porches
Boost Evening Lighting
As the days become shorter, good porch lighting will ensure that your leisurely evenings alfresco can continue all season long. If possible, have the lights put on a dimmer switch. It’s great to have a really bright porch light to see who’s at the door, but when you’re just hanging out, a soft glow is much more welcoming.
Tell us: What does your fall porch look like? Share a photo in the Comments!
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Purple coneflower and Russian sage make an all-star combination for late-summer and fall perennial beds. Purple coneflower (Echinacea purpurea, zones 3 to 8), native to Eastern North America, are cold-hardy perennials that bloom for months, attracting native bees and butterflies. After the bloom, the flowers’ spiky deep-orange centers can be left in the garden as decorative seedpods (and a feast for birds).
With its pale stems and delicate lavender-blue flowers, Russian sage (Perovskia atriplicifolia, zones 5 to 9) adds an airy quality to beds, appearing like a pale-colored cloud when planted in drifts. Russian sage blooms from July to October.
Both plants are drought-tolerant, making them a good pair for a tough, low-water spot like this sidewalk garden by Garden Stories in Portland, Oregon.
Water requirement: Moderate to low, once established
Light requirement: Full sun
20 Favorite Flowers for the Fall Landscape