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HIGHLIGHTS

MARKET DATA: U.S. Federal Reserve sees improved job market, ends bond-buying program
ECONOMY: US economy grew at 3.5 percent rate in third quarter, boosted by exports and defense spending
FINANCE: Home Builder Turns to More ‘Spec’ Building To Battle Resales
GREEN BUILDING: Tried and Tested: The Basics of Third-Party Testing

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TOP STORY

US Economy Grows 3.5 Percent In Q3
IBtimes.com
Washington DC-- The U.S. economy expanded by an annualized 3.5 percent in the July-to-September period, according to an advance estimate released Thursday by the Commerce Department. The consensus of analyst estimates from Bloomberg forecast only a 3 percent rise.


MARKET DATA

U.S. Federal Reserve sees improved job market, ends bond-buying program
iPolitics.com
Washington DC-- The Federal Reserve plans to keep a key interest rate at a record low to support a U.S. job market that’s improving but still isn’t fully healthy and to help boost unusually low inflation.

KB Home Wins 2014 WaterSense® Partner of the Year Awardv
MarketWatch.com
Washington DC-- KB Home KBH, -2.29% one of the nation’s largest and most recognized homebuilders, has been honored by the U.S. 


METROINTELLIGENCE ECONOMIC UPDATE
By Patrick S. Duffy

3Q 2014 GDP rose by 3.5 percent in advance estimate
Real gross domestic product increased at an annual rate of 3.5 percent in the third quarter of 2014, according to the "advance" estimate released by the Bureau of Economic Analysis.

Federal Reserve ends QEIII, will now focus on interest rates
Since there has been a substantial improvement in the outlook for the labor market, the Committee decided to conclude its asset purchase program this month while holding interest rates at current levels. 

Initial unemployment claims rise by 3,000 in latest report
In the week ending October 25, initial claims were 287,000, an increase of 3,000 from the previous week's revised level. The 4-week moving average was 281,000, a decrease of 250 from the previous week's revised average. 

Mortgage applications dip 6.6 percent in latest survey, interest rates up slightly
The Market Composite Index decreased 6.6 percent on a seasonally adjusted basis from one week earlier. The average interest rate for 30-year fixed-rate mortgages increased to 4.13 percent from 4.10 percent.


The MetroIntelligence Economic Update is provided to BuilderBytes by MetroIntelligence Real Estate & Economic Advisors.




MaxLite opens new facility in Anaheim, CA


MaxLite
MaxLite, a leading manufacturer of LED lighting solutions, expanded its U.S. operations with the opening of a new LEED-certified facility on Monday, October 20.The 48,864-square-foot-building increases MaxLite’s product assembly and testing capabilities and features the company’s first full showroom on the West Coast.

Located in the Anaheim Concourse development at Ocean Circle, the $7.5 million new construction is outfitted entirely with energy-efficient MaxLite LED lighting products. The building, received Leadership in Energy and Environmental Design (LEED) certification from the U.S. Green Building Council for following best-in-class green building strategies and practices.
www.maxlite.com



ECONOMY

Fed ends bond buying, shows confidence in U.S. recovery
Reuters.com
Washington DC -- The Federal Reserve on Wednesday ended its monthly bond purchase program and dropped a characterization of U.S. labor market slack as "significant" in a show of confidence in the economy's prospects.


US economy grew at 3.5 percent rate in third quarter, boosted by exports and defense spending
USNews.com
Washington, DC-- The U.S. economy grew at a solid annual rate of 3.5 percent in the July-September quarter, propelled by solid gains in business investment, export sales and the biggest jump in military spending in five years.


FINANCE

Home Builder Turns to More Spec Building To Battle Resales
The Wall Street Journal
Washington DC-- Meritage Homes Corp. has adopted a risky strategy to compete with the less-expensive market for existing homes: building more homes on speculation.


Trade, defense spending buoy U.S. third-quarter growth
Reuters.com
Washington DC-- A smaller trade deficit and a surge in defense spending buoyed U.S. economic growth in the third quarter, but other details of Thursday's report hinted at some loss of momentum in activity.


GREEN BUILDING

Tried and Tested: The Basics of Third-Party Testing
Greenhomebuildermag.com
Newport Beach, CA -- "Save 25% percenton your electrical bill!" or "Insulating values that are twice those of the leading brand!" Energy efficiency claims similar to these are not uncommon to see in product brochures or on packaging, but how do you know these claims are legitimate?

Energy-efficient home trends for 2015 and beyond
HutchNews.com
Washington DC-- One of the top trends driving today’s housing market is the demand for energy-efficient homes that don’t sacrifice comfort for quality.


LAND PLANNING/DEVELOPMENT

Meritage Homes Announce Exclusive 15-Home Site Community in the Heart of Austin's South Lamar Neighborhood
PRweb.com
Los Angeles, CA-- Meritage Homes Corporation announced today that it will develop an exclusive residential home community, Solavera, in the heart of Austin, Texas, consisting of only 15 single family homes in the desirable 78704 zip code.


AFFORDABLE HOUSING

Affordable Housing with Renaissance Style
GreenHomeBuildermag.com
Agoura Hills, CA-- The AMCAL multi-housing plan for Terracina in Agoura Hills, CA, was approved in 2011 and construction started in 2013. The community was built on a large parcel, which was vacant for many years and in need of redevelopment.


MaxLite donates energy-efficient lighting products to local Habitat for Humanity ReStore
Penpubinc.com
Anaheim, CA-- In celebration of the grand opening of the company’s new facility in Anaheim, MaxLite donated $14,000 worth of energy-efficient lighting products to the Habitat for Humanity of Orange County Anaheim ReStore on October 20. 


50+ HOUSING

HUD's Senior Living Refi Boom is Over
Seniorhousingnews.com
Washington, DC-- After a blockbuster year for The Department of Housing and Urban Development's (HUD) lean mortgage insurance program in senior housing, volume fell more than 25% in fiscal year 2014, marking the end of a boom for government financing in the sector.

Heritage Woods of Flora Affordable Assisted Living to Host Community Breakfasts
Theintelligencer.com
Bradley, IL-- Heritage Woods of Flora, a BMA Management affordable assisted living community, will host a community breakfast on Nov. 19 and a breakfast meeting with Illinois Sen. Dale Righter on Nov. 13. The community in Clay County, Illinois serves seniors of all incomes, including those on Medicaid.


Intellitec Solutions Announces Case Study on Senior Living Community Replacing Accounting System
PRweb.com
Wilmington, DE-- Intellitec Solutions announced the publication of a case study detailing the company’s Microsoft Dynamics GP consulting work in support of their client Presby’s Inspired Life (Presby).


JELD-WEN

JELD-WEN
JELD-WEN's wood windows, patio doors and door frames with solid AuraLast-the wood that does not rot, are perfect for any project. AuraLast is JELD-WEN's proprietary water-based wood protection process. Unlike traditional chemical dip-treatments that only coat a thin layer on the wood's surface, AuraLast delivers virtually 100 percent surface-to-core protection. JELD-WEN wood windows, patio doors and door frames with AuraLast Wood can protect builders from the expense, damage and inconvenience of decaying wood. Because windows and doors are constantly exposed to weather-and moisture-wood rot can be an issue for homeowners everywhere. Have a look at JELD-WEN's lifetime limited warranty for windows lifetime limited warranty or our lifetime limited warranty for doors lifetime limited warranty. You'll be glad you did.
www.jeld-wen.com




Vol.6  No. 124 
October 31, 2014

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