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Posts Tagged ‘home building

Why New Homes Are About to Get Pricier

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Why New Homes Are About to Get Pricier
Article by Daily Real Estate News | March 1, 2017

newhomeblueprintsWith the cost of building materials jumping 25 percent year over year, according to the National Association of Home Builders’ NAHB/Wells Fargo Housing Market Index, builders are increasingly concerned about how this will affect home buyers in the new-construction market. In 2016, builders ranked the cost of building materials low on their list of concerns—but now it’s one of their top five.

The increased cost of lumber is a chief catalyst. “Negotiations on a new softwood lumber agreement between the United States and Canada ground to a halt at the end of 2016 and likely are stalled pending the results of an investigation into unfair import practices requested by the U.S. Lumber Coalition,” the NAHB reports.

Because of this, home buyers likely will face price hikes. According to the NAHB/Wells Fargo Housing Market Index, builders cited the following as the 10 most significant problems they expect to face in 2017:

  1. Cost/availability of labor: 82%
  2. Cost/availability of developed lots: 67%
  3. Impact/hook-up/inspection or other fees: 61%
  4. Building material prices: 60%
  5. Federal environmental regulations and policies: 52%
  6. Local/state environmental regulations and policies: 52%
  7. Regulation of banking/financial institutions: 48%
  8. Development standards (parking, setbacks, etc.): 47%
  9. Inaccurate appraisals: 46%
  10. Health insurance: 40%

Source: “Material Costs Spike as a Menacing Builder Worry,” BUILDER (Feb. 28, 2017); REALTOR® Magazine Online, Daily Real Estate News 030117

KENNETH BARGERS REALTOR® License 318311 | Pilkerton Realtors License 257352
(615) 512-9836 cellular • (615) 915-5901 facsimilekb@bargers-solutions.com email
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MarketGraphics Releases November 2015 New Home Permit Reports for Greater Nashville

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The Greater Nashville Area (12-County) New Home Permit Reports for November 2015
Courtesy of MarketGraphics Research Group | December 23, 2015

MarketGraphics Research, located in Franklin, Tennessee, releases November’s New Home Permit Reports for the 12-county Greater Nashville area: County/Builder/Subdivision New Home Permit Report, Permits by County New Home Permit Report, Top 50 Builders New Home Permit Report

MarketGraphics-Nov2015-imag

Source: Cecilia Gonsewski | MarketGraphics Research Group, Inc.
(615) 371-2282 | cecilia@mgresearch.net | http://www.mgresearch.net

Kenneth Bargers, REALTOR® | Pilkerton Realtors
(615) 512-9836 cellular (615) 371-2474 office kb@bargers-solutions.com email
www.bargers-solutions.com web kennethbargers.com blog
2 Cadillac Drive, Brentwood Tennessee address

Need a home? visit Search for Properties
Do you need marketing assistance for special projects or contract assignments? visit the Marketing page of Bargers Solutions

Job Growth to Finally Boost Homebuilding?

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Job Growth to Finally Boost Homebuilding?
Article by Daily Real Estate News | December 14, 2015

HouseConstructionThe construction industry is poised for one of the largest leaps in employment growth over the next decade, according to the Bureau of Labor Statistics. The construction sector is expected to add 790,400 jobs through 2024 – the fourth highest job growth projection among major industries, according to BLS.

The health and social assistance sector leads with a projected 3.8 million job gain, followed by professional and business services (1.9 million), and the leisure and hospitality sector (941,200).

“In percentage terms, the construction sector ranks second in terms of expected growth,” the National Association of Home Builders reports on the findings. “The construction industry is expected to experience 1.2 percent compounded annual growth for jobs over 2014-2024. Only the health and social assistance industry (1.9%) exceeds this growth rate.”

However, even with the uptick, employment in the construction sector still would not be pushed above 2004 levels. From 2004 to 2014, about 837,800 construction jobs were lost on a net basis.

Within the construction occupation, some of the top-growing jobs expected overt he next decade include solar photovoltaic installers (24.3% total growth over 10 years), iron/rebar workers (23.4%), insulation workers (19.4%), brickmasons and blockmasons (17.9%), electricians (13.7%), and earth drillers (13.6%).

BLS also offers projections on other real estate-related occupations over the 2014-2024 period, including forecasts of a net job growth of 349,800 (6.2%) for building and grounds maintenance occupations; 25,300 (8.1%) for property and real estate managers; 9,000 (6.7%) for architects; 2,200 (3.8%) for interior designers and 10,900 (2.6%) for real estate brokers and sales agents.

Source: “Construction Sector a Leader for Job Growth Over the Next Decade,” National Association of Home Builder’s Eye on Housing Blog (Dec. 8, 2015); REALTOR® Magazine Online, Daily Real Estate News 121415

Kenneth Bargers, REALTOR® | Pilkerton Realtors
(615) 512-9836 cellular (615) 371-2474 office kb@bargers-solutions.com email
www.bargers-solutions.com web kennethbargers.com blog
2 Cadillac Drive, Brentwood Tennessee address

Need a home? visit Search for Properties
Do you need marketing assistance for special projects or contract assignments? visit the Marketing page of Bargers Solutions

NAHB Reports New Home Sales Rise 10.7 Percent in October

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NAHB Reports New Home Sales Rise 10.7 Percent in October
Article by National Association of Home Builders | November 25, 2015

NAHB-LogoSales of newly built, single-family homes rose 10.7 percent to a seasonally adjusted annual rate of 495,000 units in October, according to newly released data from HUD and the U.S. Census Bureau.

“Our builders are reporting continued optimism in the housing market, and are adding inventory in anticipation of future business,” said Tom Woods, chairman of the National Association of Home Builders (NAHB) and a home builder from Blue Springs, Mo.

“Sales this year are running 15.7 percent ahead of 2014,” said NAHB Chief Economist David Crowe. “With a firming job market, affordable home prices, and rising pent-up demand, today’s report is another indicator that the housing market continues to move on a modest upward trajectory.”

New-home sales were up in three out of the four regions. Sales rose 135.3 percent in the Northeast, 5.3 percent in the Midwest, and 8.9 percent in the South. Sales fell 0.9 percent in the West.

The inventory of new homes for sale was 226,000 units in October. This is a 5.5-month supply at the current sales pace.

Source: NAHB 112515

Kenneth Bargers, REALTOR® | Pilkerton Realtors
(615) 512-9836 cellular (615) 371-2474 office kb@bargers-solutions.com email
www.bargers-solutions.com web kennethbargers.com blog
2 Cadillac Drive, Brentwood Tennessee address

Need a home? visit Search for Properties
Do you need marketing assistance for special projects or contract assignments? visit the Marketing page of Bargers Solutions

Midwest Pushes Housing Starts Down 2 Percent in January

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Midwest Pushes Housing Starts Down 2 Percent in January
Article by National Association of Home Builders | February 18, 2015

NAHB-LogoFebruary 18, 2015 – Nationwide housing starts fell 2 percent to a seasonally adjusted annual rate of 1.065 million units in January, according to newly released data from the U.S. Commerce Department. This drop was mainly due to a 22.2 percent decrease in the Midwest.

Single-family housing production fell 6.7 percent to a seasonally adjusted annual rate of 678,000 in January while multifamily starts rose 7.5 percent to 387,000 units.

“These numbers are consistent with our recent surveys and are primarily due to severe weather hitting the Midwest and other parts of the country,” said NAHB Chairman Tom Woods, a home builder from Blue Springs, Mo.

“After a strong single-family report in December, it is not surprising to see some pull back in January,” said NAHB Chief Economist David Crowe. “With continued job creation and a growing economy, single-family production should make gains in the year ahead.”

Regionally in January, combined single- and multifamily housing production increased 6.5 percent in the South. Total starts fell in the Northeast, Midwest and West, with respective losses of 3.5 percent, 22.2 percent and 3.4 percent.

Overall permit issuance was down 0.7 percent in January to a rate of 1.053 million. Single-family permits decreased 3.1 percent to 654,000 units while multifamily permits rose 3.6 percent to a rate of 399,000 units.

Regionally, permits were mixed in January. The Northeast and West registered gains of 29.5 percent and 16.8 percent, respectively, while the Midwest and South dropped 16 percent and 8.7 percent, respectively.

Source: NAHB 021815

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MarketGraphics Releases August 2014 New Home Permit Reports for Greater Nashville

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The Greater Nashville Area (12-County) New Home Permit Reports for August 2014
Courtesy of MarketGraphics Research Group | September 26, 2014

MarketGraphics Research, located in Franklin, Tennessee, releases August’s New Home Permit Reports for the 12-county Greater Nashville area: County/Builder/Subdivision New Home Permit Report, Permits by County New Home Permit Report, Top 50 Builders New Home Permit Report

Greater Nashville Permit by County Report August 2014
Greater Nashville Permit Report County Builder & Sub August 2014
Greater Nashville Permit Report Top Builders August 2014

MarketGraphicsAugust2014

Source: Paula Charles | MarketGraphics Research Group, Inc.
(615) 371-2282 | paula@mgresearch.net | http://www.mgresearch.net

KENNETH BARGERS, REALTOR® | Bargers Solutions real estate : marketing
a proud member of Pilkerton Realtors

(615) 512-9836 cellular | (615) 371-2474 office
kb@bargers-solutions.com email | www.bargers-solutions.com web
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MarketGraphics Releases March 2014 New Home Permit Reports for Greater Nashville

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The Greater Nashville Area (12-County) New Home Permit Reports for March 2014
Courtesy of MarketGraphics Research Group | May 2, 2014

MarketGraphics Research, located in Franklin, Tennessee, releases March’s New Home Permit Reports for the 12-county Greater Nashville area: County/Builder/Subdivision New Home Permit Report, Permits by County New Home Permit Report, Top 50 Builders New Home Permit Report

March2014PermitsbyCounty

Source: Paula Charles | MarketGraphics Research Group, Inc.
(615) 371-2282 | paula@mgresearch.net | http://www.mgresearch.net

KENNETH BARGERS, REALTOR® | Bargers Solutions real estate|marketing
a proud member of Pilkerton Realtors

(615) 512-9836 cellular | (615) 371-2474 office
kb@bargers-solutions.com email | www.bargers-solutions.com web
kennethbargers.com blog | www.pilkertonrealtors.com web

2 Cadillac Drive, Brentwood TN 37027 address

Subscribe BLOG: EMAIL ME your name/email address to receive Kenneth Bargers Blog
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