Home Depot To Close 15 Stores, Abandon Plans for 50 More

Home Depot announced that it will close 15 underperforming U.S. stores, and is canceling plans to open 50 additional stores that have been in the pipeline. It will record a charge of approximately $400 million related to development costs and obligations associated with those future store.... . . MORE DETAILS

Remodeling Activity Remains Steady In The First Quarter

Remodeling activity remained steady during the first quarter of 2008, according to the National Association of Home Builders' (NAHB) Remodeling Market Index (RMI). The current market conditions indicator increased to 41.8 from 40.9 in the fourth quarter, while the future expectations measure showed.... . . MORE DETAILS

D.R. Horton Loses $1.3 Billion in Second Quarter

Homebuilder D.R. Horton, Inc. reported a net loss of $1.3 billion for its second fiscal quarter ended March 31, 2008. The quarterly results included $834.1 million in pre-tax charges to cost of sales for inventory impairments and write-offs of deposits and pre-acquisition costs related to land.... . . MORE DETAILS

S&P/Case-Shiller Index Finds Home Price Declines in 17 of 20 markets

The latest Standard & Poor's Case-Shiller Home Price survey found continued widespread declines in the prices of existing single family homes across the United States during February 2008.. . . MORE DETAILS

Survey: 1 in 4 Homeowners Considering Spending Their Tax Rebate on Home Improvement Projects

A consumer opinion survey conducted by building products manufacturer Johns Manville reveals that 24 percent of U.S. homeowners are considering using the money they will receive as part of the federal economic stimulus package to upgrade or improve their homes.. . . MORE DETAILS

Mortgage Turmoil Tough on Renters Too, With Rising Rents and Foreclosure Eviction

The current mortgage turmoil reaches deep into rental markets. New research on rental housing market dynamics from Harvard University's Joint Center for Housing Studies finds that the current housing debacle not only adds to the number of households competing for low-cost rentals but also.... . . MORE DETAILS

Builders to Congress: Improve Efficiency Through Tax Incentives

Calling green building the next evolution in residential construction, the National Association of Home Builders (NAHB) told Congress last week that the best way to help small home builders promote residential energy efficiency and sustainability technology in home construction is by.... . . MORE DETAILS

Kimball Hill Files For Chapter 11 Bankruptcy Protection

Kimball Hill Homes and some of its subsidiaries have filed voluntary Chapter 11 petitions for reorganization in the United States Bankruptcy Court in the Northern District of Illinois. The Company's financial service businesses are excluded from the filing.. . . MORE DETAILS

CEMEX Reports 18% Profit Jump in First Quarter

Mexican cement giant CEMEX reported that its net income increased 18% to US$470 million from US$400 million in the first quarter of 2007.. . . MORE DETAILS

New Home Sales Fall 8.5 Percent in March

New home sales in the U.S. continued their decline in March, falling 8.5 percent to a seasonally adjusted annual rate of of 526,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.. . . MORE DETAILS

New Starwood Hotels Brand Will Have All LEED-Certified Properties

Starwood Hotels & Resorts Worldwide, Inc. announced that its newest brand, ELEMENT hotels, will require all hotels brand-wide to pursue the U.S. Green Building Council's (USGBC) LEED certification.. . . MORE DETAILS

Ryland Reports $29.3 Million Loss in First Quarter

Homebuilder Ryland this week reported a consolidated loss of $29.3 million in its first quarter, on sales of $399.6 million. The performance was better than some housing sector analysts had predicted.. . . MORE DETAILS

Las Vegas Realtor Offers Foreclosure Bus Tours

RE/MAX Central of Las Vegas recently launched a Foreclosure Bus Tour for consumers and investors that has been featured via a cover story in the USA TODAY Bargain Hunters Boost Home Sales in Some Markets. . . . MORE DETAILS

Simpson Strong-Tie Opening New Distribution Facility to Serve Mid-Atlantic Region

To better serve its Mid-Atlantic customers, Simpson Strong-Tie is setting up shop in Jessup, Maryland. The 39,600 sq. ft. facility will operate as a product distribution center and a will-call desk for local area customers. Shipping from Jessup will begin May 1st.. . . MORE DETAILS

CertainTeed Launches Visualization and Estimation Tool for Railing and Deck Products

Through a partnership with Cad Quest , CertainTeed Corporation now offers software for building industry professionals that can help create more authentic designs, more accurate material lists and cost estimates.. . . MORE DETAILS