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  Housing Bubble Watch: New Home Construction Reports

Two monthly housing market indicators have been released so far this week, both relating broadly to home construction and showing a continued slowing of the housing sector and a related loss of builder confidence.

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development have published their joint report on new residential construction for August 2006. The survey covers the number of building permits, housing starts, and housing completions throughout the country and it reported a further retreat in each category from the previous month and double digit drops in two of the three categories since the same month in 2005.

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Extras help seal real estate deals

The longer Kim Tucker shopped for a home, the sweeter the offers got. Builders were willing to knock anywhere from $3,000 to $5,000 off asking prices. The owner of an existing home offered to toss in a big-screen TV. When the First Citizens Bank manager finally settled on a $199,000 townhouse in Bryarton Village, a Bill Clark Homes development off Tryon Road in Raleigh, she received $8,000 in kitchen upgrades, designer paint and price cuts."It's getting a little easier to negotiate. Sellers are more willing to accept contingency offers," said Tucker, who still needs to sell her home in Winston-Salem to complete the purchase.The slowdown in the national housing market appears to be reaching the Triangle. Although sales of new homes were up in the first two quarters of the year, existing home sales, which can affect the larger market, are flattening.

Your Stories: Bridge Construction Delays in DeWitt

DeWitt (WSYR-TV) - Construction continues on the new Fly Road bridge over the New York State Thruway in DeWitt, and some of you are wondering when the work will wrap up, so you can use the brand new bridge.

The Thruway Authority says the project is running about three weeks behind schedule, and they say weather is to blame.

So what's left to do on the Fly Road bridge? Crews still have some paving work ahead of them.

That will happen on the bridge itself and on the approach to the bridge. They're hoping to knock off that part of the project next week.

Then, they'll install some guide rails and put down road markings on the Thruway itself.

The Thruway Authority estimates that work will be done by the beginning of November, making a lot of commutes to work, and elsewhere, a whole lot easier.

 
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