Posts Tagged ‘National Association of Home Builders’
Housing Starts Cool Off in January
Article by Daily Real Estate News | February 17, 2017
Overall housing production declined in January after an unusually robust reading in the multifamily sector in December, but economists were unfazed. “As we move forward in 2017, we can expect the multifamily sector to continue to stabilize and single-family production to move forward at a gradual but consistent pace,” says Robert Dietz, chief economist for the National Association of Home Builders.
Housing starts dropped 2.6 percent on a month-over-month basis in January to a seasonally adjusted annual rate of 1.246 million units, primarily due to a 10.2 percent plunge in the multifamily sector, the Commerce Department reported Thursday. Single-family starts, on the other hand, rose 1.9 percent month-over-month to 823,000 units.
“A settling of housing production is in line with what we are hearing from builders — that they are largely optimistic about current market conditions but still face supply-side headwinds and regulatory hurdles,” says Granger MacDonald, chairman of the National Association of Home Builders.
Combined single- and multifamily housing production was on the rise in the Northeast and South in January. In the Northeast, housing production surged 55.4 percent last month and by 20 percent in the South. On the other hand, starts dropped by 41.3 percent in the West and by 17.9 percent in the Midwest, the Commerce Department reported.
Housing production is likely to pick up in the coming months. Issuance of construction permits — a gauge of future construction activity — increased 4.6 percent in January to 1.285 million units. But the bulk of that increase was due to a nearly 20 percent increase in multifamily permits to 477,000 units, the Commerce Department reported. Single-family permits, meanwhile, dropped 2.7 percent in January to 808,000 units.
The Northeast likely will continue to see some of the biggest increases in housing production. Regionally, housing permits increased by the highest amount in the Northeast, rising 29.6 percent in January, followed by a 9.9 percent gain in the South, and a 5.3 percent increase in the Midwest. The West was the only major region to see a decline, dropping 13.2 percent in January.
Source: National Association of Home Builders; REALTOR® Magazine Online, Daily Real Estate News 021717
KENNETH BARGERS REALTOR® License 318311 | Pilkerton Realtors License 257352
(615) 512-9836 cellular • (615) 915-5901 facsimile • email@example.com email
bargers-solutions.com web • kennethbargers.com blog • Search Properties
(615) 371-2474 office • (615) 371-2475 facsimile • 2 Cadillac Drive, Brentwood TN 37027 address
More Owners Spruce Up Bathrooms, Kitchens
Article by Daily Real Estate News | May 05, 2016
Home owners are taking on larger remodeling projects, according to a survey conducted by the National Association of Home Builders Remodelers, an arm of the NAHB.
“While bathroom and kitchen remodels remain the most common renovations, basements, whole house remodels and both large and small scale additions are returning to levels not seen since prior to the downturn,” said 2016 NAHB Remodelers Chair Tim Shigley, CAPS, CGP, GMB, GMR, a remodeler from Wichita, Kan.
Remodelers report some projects have seen notable increases since 2013: whole house remodels rose by 10 percent; room additions rose by 12 percent; finished basements increased by 8 percent; and bathroom additions jumped 7 percent.
Bathrooms have topped the list of most common remodeling jobs since 2010 in the survey. Eighty one percent of remodelers report taking on a bathroom remodeling project. Seventy nine percent report taking on a kitchen remodel.
The following were the most common remodeling jobs in 2015, according to NAHB’s Remodeling Market Index Survey:
- Bathroom remodeling: 81% of remodelers reported job as common
- Kitchen remodeling: 79%
- Whole house remodeling: 49%
- Room additions: 47%
- Windows/door replacement: 36%
- Finished basement: 30%
- Bathroom additions: 28%
- Repairing property damage: 27%
- Decks: 26%
- Roofing: 25%
- Handyman services: 20%
- Siding: 20%
- Second story additions: 17%
- Enclosed/added garage: 16%
- Enclosed/added porch: 16%
- Historic preservation: 10%
- Finished attic: 4%
Source: “Kitchen and Bath Remodeling More Common Than Ever in 2015,” National Association of Home Builders’ Eye on Housing (May 3, 2016); REALTOR® Magazine Online, Daily Real Estate News 050516
Kenneth Bargers, REALTOR® | Pilkerton Realtors
(615) 512-9836 cellular (615) 371-2474 office firstname.lastname@example.org email
www.bargers-solutions.com web kennethbargers.com blog
2 Cadillac Drive, Brentwood Tennessee address