Housing Starts, Builder Confidence Down

“While the demographics and interest for homebuying remain solid, higher costs and material access issues have resulted in lower levels of home building and even put a hold on some new home sales,” said NAHB Chief Economist Robert Dietz. “While these supply-side limitations are holding back the market, our expectation is that production bottlenecks should ease over the coming months and the market should return to more normal conditions.”

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Builder Confidence Soars

“Housing has clearly been a bright spot during the pandemic and the sharp rebound in builder confidence over the summer has led NAHB to upgrade its forecast for single-family starts, which are now projected to show only a slight decline for 2020,” said NAHB Chief Economist Robert Dietz. “

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The Pennsylvania Supreme Court again has addressed the issue of the implied warranty of habitability in its Conway decision. What does this mean for you?
What Conway decision means for Realtors®

The Pennsylvania Supreme Court again has addressed the issue of the implied warranty of habitability. It recently ruled that the warranty it established in 1972, does not apply to purchasers other than the original home buyers of new construction.

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The PA Supreme Court has ruled that an implied–protection for the original purchaser of new residential construction–does not extend to a later purchaser.
Court rules on builders’ implied warranty

This case is a very significant victory for homebuilders in Pennsylvania. Subsequent homebuyers now appear to have little or no recourse against the homebuilder for construction defects that may not become evident until after they purchase the home from the original buyer.

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