KENNETH BARGERS | In The News

Realtor, Tennis Player, Titans & Vols Fan, Nashvillian… Live! Work! Play! in Middle Tennessee

Posts Tagged ‘National Association of Home Builders

New Home Inventory at 20-Year Low

leave a comment »

New Home Inventory at 20-Year Low
National Association of Home Builders    article by Daily Real Estate News | August 17, 2017

House 1016Builders failed to ramp up inventories last month, despite increasing demand from home buyers and calls from the real estate industry. New-home construction dropped 4.8 percent in July to a seasonally adjusted annual rate of 1.16 million units, the U.S. Department of Housing and Urban Development and Commerce Development reported Wednesday.

Single-family production fell 0.5 percent month over month in July to an adjusted annual rate of 856,000. The July reading does follow a strong, upwardly revised June reading, the National Association of Home Builders notes. Single-family starts are 8.6 percent higher than a year ago.

Multifamily starts, meanwhile, plunged 15.3 percent last month to 299,000 units.

“New-home production numbers this month are in line with our forecast for a slow and steady recovery of the housing market,” says Robert Dietz, NAHB’s chief economist. “We saw multifamily production peak in 2015, and this sector should continue to level off as demand remains solid.”

Overall, inventories of homes for sale are at a 20-year low, according to realtor.com® data. Economists have been calling for new-home construction to help make up the shortfall in the market.

“The housing shortage in America will intensify if new construction remains as lackluster as it was in July,” Lawrence Yun, the National Association of REALTORS®’ chief economist, said in a statement. “The softening multifamily housing starts brought down the overall new housing unit additions to the second lowest monthly activity this year. Moreover, the latest 15 percent drop in multifamily housing starts and 0.5 percent drop in single-family starts will hold back economic growth potential. Because of this shortage, expect rents and home prices to rise by at least twice as fast as the broad consumer price index.”

Regionally, combined single-family and multifamily housing production increased only in the South in July, inching up 0.6 percent month over month. Housing starts posted a 15.7 percent month-over-month drop in the Northeast, a 15.2 percent drop in the Midwest and fell by 1.6 percent in the West.

Housing permits, a gauge of future construction, dropped 4.1 percent to a seasonally adjusted annual rate of 1.22 million units. Single-family permits mostly held steady at 811,000 units while multifamily permits dropped 11.2 percent to 412,000.

Source: National Association of Home Builders and National Association of REALTORS®; REALTOR® Magazine Online, Daily Real Estate News 081717

Kenneth Bargers REALTOR® License 318311  |  Pilkerton Realtors License 257352
(615) 512-9836 cellular  •  (615) 915-5901 facsimile  •  kb@bargers-solutions.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
The greatest compliment you can give is a referral!

New-Home Sales Are High, But They Could Be Higher

leave a comment »

New-Home Sales Are High, But They Could Be Higher
National Association of Home Builders    article by Daily Real Estate News | July 27, 2017

New-home sales inched up 0.8 percent in June, but sales would be higher if there were more new homes to sell. Sales of newly built single-family homes reached a seasonally adjusted annual rate of 610,000 units in June, according to a joint report released by the U.S. Census Bureau and U.S. Department of Housing and Urban Development.

“While new home inventory rose slightly in June, it remains tight as builders face lot and labor shortages and increases in building material costs,” says Michael Neal, senior economist at the National Association of Home Builders.

regional_nhs_jun17

The lower price ranges are seeing some of the tightest inventory supply. Only about 2,000 new homes under $150,000 were sold in June, according to the report. About 6,000 homes were sold in the $150,000 to $199,999 price range. There was an uptick in the $200,000 to $299,000 price range at about 19,000 new homes sold in June, which is up from 15,000 a year ago.

The greatest number of new homes were sold in the South in June.

But the most sales on the rise last month were in the West. New-home sales rose in June by 12.5 percent month over month in the West and by 10 percent in the Midwest. Sales were unchanged in the Northeast in June, and dropped by 6.1 percent in the South, according to the Census and HUD report.

New homes remain significantly pricier than existing homes. New home buyers likely will pay about 17.8 percent more than if they purchased a previously lived-in home.

This rings true even though new-home prices did slow down last month. The median price of a newly built home dropped nearly 4.2 percent in June month over month to $310,800. Prices are down nearly 3.4 percent from a year ago. Meanwhile, the median existing home price reached a record in June at $263,800.

Despite June’s modest new-home sales gain, sales overall remain up nearly 11 percent since the beginning of 2017, according to the NAHB.

Source: National Association of Home Builders and “New-Home Prices Are Down: Get One Before They Sell Out,” realtor.com® (July 26, 2017); REALTOR® Magazine Online, Daily Real Estate News 072717

Kenneth Bargers REALTOR® License 318311  |  Pilkerton Realtors License 257352
(615) 512-9836 cellular  •  (615) 915-5901 facsimile  •  kb@bargers-solutions.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
The greatest compliment you can give is a referral!

Nationally: New-Home Prices Hit Record High

leave a comment »

Nationally: New-Home Prices Hit Record High
NAHB    article by Daily Real Estate News | June 26, 2017

regional_nhs_may17

The median price for a new single-family home reached a record high in May of $345,800, the Commerce Department reports. Buyers will be paying a huge premium for new construction, as new-home prices are now 16.8 percent higher than they were a year ago.

So far, however, the higher price tags don’t seem to be spooking home shoppers. In May, 61,000 new homes were purchased—a 2.9 percent increase from April and an 8.9 percent increase from a year ago, the Commerce Department reports. “Builders are focused on the mid to upper end of the housing market,” says Joseph Kirchner, realtor.com®’s senior economist. “It means that it will be more difficult to find more affordable homes for first-time buyers, millennials, and low-income people.”

Only 6,000 newly constructed homes sold in May were priced between $150,000 and $199,999. Further, there were about 14,000 sales in the $200,000 to $299,999 range. New homes now cost about 36.8 percent more than previously existing homes, which also reached record-high prices in May.

Regionally, new-home sales increased the most in the West last month, posting a 13.3 percent month-over-month jump, followed by a 6.2 percent increase in the South. New-home sales, meanwhile, fell 10.8 percent in the Northeast and plunged 25.7 percent month-over-month in the Midwest.

Source: National Association of Home Builders and “New Homes Just Keep Getting Pricier, But Buyers Keep Coming,” realtor.com® (June 23, 2017); REALTOR® Magazine Online, Daily Real Estate News 062617

Kenneth Bargers REALTOR® License 318311  |  Pilkerton Realtors License 257352
(615) 512-9836 cellular  •  (615) 915-5901 facsimile  •  kb@bargers-solutions.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

Americans Place High Priority on Ownership

leave a comment »

Americans Place High Priority on Ownership
National Association of Home Builders     article by Daily Real Estate News | June 6, 2017

Chart 1000More than two-thirds of Americans believe that owning a home is an essential part of the American dream, according to a new survey released by the National Association of Home Builders of more than 11,300 registered voters.

“Americans continue to place a high priority on homeownership and work hard to achieve this goal for their families,” says NAHB Chairman Granger MacDonald.

Other recent surveys also have shown a high desire for homeownership, despite the homeownership rate remaining stalled near a historical low of 64 percent. About 80 percent of millennials recently surveyed by rental website Apartment List say they hope to one day buy a home.

However, being able to afford one is the main obstacle, millennials say, that is holding them back. Thirty-six percent of the 24,000 millennial renters born between 1982 and 2004 surveyed said they’ll likely need to wait more than five years before they’ll have saved enough to buy. More than two-thirds of survey respondents say they don’t even have $1,000 in down-payment savings.

Source: National Association of Home Builders and “Wannabe Buyers Aren’t Saving Enough,” REALTOR® Magazine online (May 30, 2017); REALTOR® Magazine Online, Daily Real Estate News 060617

KENNETH BARGERS REALTOR® License 318311 | Pilkerton Realtors License 257352
(615) 512-9836 cellular • (615) 915-5901 facsimilekb@bargers-solutions.com email
bargers-solutions.com webkennethbargers.com blogSearch Properties
(615) 371-2474 office • (615) 371-2475 facsimile • 2 Cadillac Drive, Brentwood TN 37027 address

17 Most Popular Remodeling Projects

leave a comment »

17 Most Popular Remodeling Projects
Article by Daily Real Estate News | May 8, 2017

WelcomeHomeEntry400wKitchen upgrades have overtaken bathroom updates as the remodeling project homeowners want most, according to the National Association of Home Builders’ Remodeling Market Index report covering the first quarter of 2017. Bathroom renovations previously held the number one spot, but kitchen redos barely pulled ahead in the most recent report.

Visit REALTOR® Magazine’s Styled, Staged & Sold blog for the latest remodeling and design trends.  NAHB’s survey showed these are the most common jobs for remodelers:

  • Kitchen remodeling: 81%
  • Bathroom remodeling: 80%
  • Whole-house remodeling: 53%
  • Room additions: 45%
  • Windows/door replacement: 36%
  • Finished basement: 27%
  • Repairing property damage: 27%
  • Decks: 25%
  • Bathroom additions: 24%
  • Roofing: 23%
  • Enclosed/added porch: 23%
  • Handyman services: 22%
  • Siding: 19%
  • Second story additions: 16%
  • Enclosed/added garage: 12%
  • Historic preservation: 9%
  • Finished attic: 7%

Fifty-three percent of remodelers say “whole-house remodeling” has become a much more common project, the survey notes. It’s also the first time since 2006 that more than half of the respondents to NAHB’s survey have cited anything besides kitchens and bathrooms as a common type of remodeling project, the index notes.

Source: “Remodeling in 2016: Kitchens Reclaim Top Spot From Baths,” National Association of Home Builders’ Eye on Housing blog (May 5, 2017); REALTOR® Magazine Online, Daily Real Estate News 050817

KENNETH BARGERS REALTOR® License 318311 | Pilkerton Realtors License 257352
(615) 512-9836 cellular • (615) 915-5901 facsimilekb@bargers-solutions.com email
bargers-solutions.com webkennethbargers.com blogSearch Properties
(615) 371-2474 office • (615) 371-2475 facsimile • 2 Cadillac Drive, Brentwood TN 37027 address

New Homes Have Gotten Pricier

leave a comment »

New Homes Have Gotten Pricier
Article by Daily Real Estate News | April 5, 2017

HomeConstruction500wOver the last 10 years, the price distribution of new homes has changed significantly, as new homes have grown more expensive. Builders blame a weakness among first-time buyers and rising regulatory burdens as the reason for the shift in focus in the pricier tiers of the new-home sector following the Great Recession.

The number of new homes that sold for less than $250,000 started to decline prior to the Great Recession. Sales in this segment have not returned to levels set in 2006, particularly for homes with prices below $149,000, according to an analysis by the National Association of Home Builders, detailed on its Eye on Housing blog.

Indeed, new homes that sold for $150,000 to $199,999 and those that sold for $200,000 to $249,000 dropped to a low during the recession. They have been on a slow, recovering pace ever since, the NAHB notes.

The main drivers in the new-home market are homes that sold above $250,000. New homes priced between $300,000 and $399,000 had the highest volume prior to the Great Recession and have been the fastest to recover since then, the NAHB notes.

Source: “New Home Sales Price History,” National Association of Home Builders’ Eye on Housing blog (April 4, 2017); National Association of REALTORS®, Daily Real Estate News 040517

KENNETH BARGERS REALTOR® License 318311 | Pilkerton Realtors License 257352
(615) 512-9836 cellular • (615) 915-5901 facsimilekb@bargers-solutions.com email
bargers-solutions.com webkennethbargers.com blogSearch Properties
(615) 371-2474 office • (615) 371-2475 facsimile • 2 Cadillac Drive, Brentwood TN 37027 address

New-Home Sales Jump 6%

leave a comment »

New-Home Sales Jump 6%
Article by Daily Real Estate News | March 24, 2017

HouseConstruct500wSales of newly built single-family homes posted a robust month in February. New-home sales rose to a seasonally adjusted annual rate of 592,000 units, up 6.1 percent month over month and 12.8 percent ahead of last year, the Commerce Department reported this week.

“February’s increase in new home sales is consistent with builders’ growing confidence in the housing market,” says Granger MacDonald, chairman of the National Association of Home Builders. “Builders are encouraged by heightened consumer activity and by the expectation that regulatory costs will decline in the year ahead.”

The inventory of new homes for sale in February was 266,000, a 5.4-month supply at the current sales pace. The median sales price was $296,200.

New-home sales posted the strongest uptick in the Midwest in February, rising 30.9 percent month over month, followed by a 7.5 percent gain in the West and a 3.6 percent increase in the South. The Northeast was the only major region of the U.S. to see a decrease last month, with new-home sales falling 21.4 percent there.

“The uptick in mortgage interest rates is having a minimal effect on new-home sales thus far,” says Robert Dietz, NAHB’s chief economist. “Ongoing job creation, rising household formations, and affordable home prices should keep the market on an upward trajectory in 2017.”

Source: National Association of Home Builders; REALTOR® Magazine Online, Daily Real Estate News 032417

KENNETH BARGERS REALTOR® License 318311 | Pilkerton Realtors License 257352
(615) 512-9836 cellular • (615) 915-5901 facsimilekb@bargers-solutions.com email
bargers-solutions.com webkennethbargers.com blogSearch Properties
(615) 371-2474 office • (615) 371-2475 facsimile • 2 Cadillac Drive, Brentwood TN 37027 address

MovieBabble

The Casual Way to Discuss Movies

The Ninth Life

It's time to be inspired, become encouraged, and get uplifted!

MovieBabble

The Casual Way to Discuss Movies

The Shameful Sheep

shit storms, shame, and stories that make you cringe

Autoindigo Blog

Fresh news about automotive world. Cars overviews written by experts, pros and cons, features, performance, safety, interior and driving.

Little Fears

Flash fiction tales of humor, horror and whimsy

www.virtual-reality-shop.co.uk/

VR, AR, 3D and Video Glasses Reviews

Woodstock Business Welcome

Welcome Wagon Canada

Blookup Blog

Turn and print all your digital contents, blogs and social networks into amazing real paper books on blookup.com

nalinidesignprofile

Graphic Designer

Sableyes

Sabbles woz 'ere

518-songofmypeople

A town everyone hates, yet no one leaves...

Attila Ovari

Loving Life and Inspiring Others

Augusta Littleton

Nonprofits and Charities

The Home Buyer Class Blog

What to know when buying a home

The Contractor's Cabinet

A Blog On Construction & More

Gamintraveler

Love, Travel Lifestyle and Destinations

realtracs.wordpress.com/

News and Information From RealTracs Solutions

kelzbelzphotography

My journey - The good, bad and the ugly

antryump

"A Blog worth reading "

john pavlovitz

Stuff That Needs To Be Said

Smart Discount Shop

Discover all the creative and ingenious ways to save money !

playwithlifeorg

4 out of 5 dentists recommend this WordPress.com site

ultimatemindsettoday

A great WordPress.com site

Vonj Productions

Bringing you love through spirit!

The Dystopian Nation of City-State

A cruel, futuristic vision created by science fiction authors James Courtney and Kaisy Wilkerson-Mills. ©2013-2016. All Rights Reserved. All writings available through Amazon.

Bubba Pigg

South' s Leading Anti- Intellectual: Wealthy in Common Sense and the Wisdom of Selfishness

@TheTexasBroker Blog

Real Estate Sales Houston Texas

The Travelling Pantry

Adventurous, Honest and Wholesome

Top 10 of Anything and Everything!!!

Animals, Gift Ideas, Travel, Books, Recycling Ideas and Many, Many More

meganelizabethmorales

MANNERS MAKETH MAN, LOST BOYS FAN & PERPETAUL CREATIVITY.

William the butler

Serving drinks since 1985

lauraagudelo272

This WordPress.com site is the bee's knees

Plutonium™ Paint

Ultra Supreme Professional Grade Aerosol Paint

Levi's Daily Thoughts

For I know that my Redeemer lives Job 19:25

Covered in Beer

by Thomas Cochran, Known Moron

Natalie Breuer

Natalie. Writer. Photographer. Etc.

Post it Notes from my Idiot Boss

delivered directly to my computer monitor on an all too regular basis...

Late Blooming Entrepreneurs

Making it big in business after age 40

timscribbles.com

automotive culture

%d bloggers like this: