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2020
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Commercial
Pickleball Boom Sparks Real Estate Development Surge
By Anthony Russo
Following the lockdowns during the heights of Covid-19, pickleball has surged in popularity — and real estate developers are taking note of the trend.
According to the Association of Pickleball Professionals, the racket or paddle sport was the fastest-growing in the nation from 2022-2023, at a rate of 51.8 percent. In the United States, 48.3 million pickleball adults played pickleball at least once in the 12 months through March.
"It's about being social and it's about having a physical activity, burning calories, being healthy" said Brett Drogmund, founder of California SMASH, a social club with pickleball that's set to open its first location in El Segun
GlobeSt.com
Residential
D.R. Horton beats Q1 estimates as low housing supply boosts new home demand
By Reuters
(Reuters) - D.R. Horton beat Wall Street estimates for first-quarter revenue and profit on Tuesday as a persistent shortage of existing homes in the U.S. housing market helped boost new home sales despite higher mortgage rates.
Shares of the construction company rose more than 5% in premarket trade.
Homebuilders are benefiting from a shortage of existing homes on sale, partly due to current homeowners, who secured properties when interest rates were low, being reluctant to sell and purchase new homes in today's higher mortgage rate climate.
Reuters
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