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Posts Tagged ‘new construction

Porches Are Making a Comeback

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Porches Are Making a Comeback
National Association of Home Builders article by Daily Real Estate News | October 6, 2017

More new homes are coming equipped with front porches. Sixty-five percent of new single-family homes started in 2016 included a porch, according to a Census data analysis from the National Association of Home Builders. It’s only the second time since tracking began that new single-family homes with porches have moved back above 65 percent. For comparison, in 2005, 54 percent of new homes had porches.

Certain regions of the U.S. are showing higher preference for porches. For example, the East-South-Central region of the U.S. had the highest share of new homes started in 2016 with porches at 86 percent.

Front porches_NAHB

The Census data from the Survey of Construction report does not indicate much information about the look of the porches. However, the NAHB reports that the Annual Builder Practices Survey, conducted by Home Innovation Research Labs, shows that front porches on new homes tend to be more common than side porches. Also, most new home porches are open rather than screened.

The average size of a front porch on a new home is about 60 square feet, according to the report. The materials used often tend to be concrete and treated wood. However, some regions—like the Mountain and Pacific areas of the U.S.—tend to favor redwood over treated wood for their front porches.

Source: “Share of New Homes With Porches Back Over 65 Percent,” National Association of Home Builders’ Eye on Housing blog (Oct. 5, 2017); REALTOR® Magazine Online, Daily Real Estate News 100617


Kenneth Bargers, REALTOR® License 318311 ♦ Pilkerton Realtors License 257352
(615) 512-9836 cellular ♦ (615) 371-2474 office
kb@bargers-solutions.com emailkb@kennethbargers.realtor email
www.bargers-solutions..com webkennethbargers.com blog
2 Cadillac Drive, Brentwood, Tennessee 37027 address

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Housing Starts Fall 3.8 Percent in January

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Housing Starts Fall 3.8 Percent in January
Article by National Association of Home Builders | February 17, 2016

NAHB-LogoNationwide housing starts dropped 3.8 percent to a seasonally adjusted annual rate of 1.099 million units in January, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. Overall permit issuance edged down 0.2 percent.

“January’s production numbers are in line with our recent HMI reading and show that builders are being cautious as they face some market uncertainties and supply side constraints,” said NAHB Chairman Ed Brady, a home builder and developer from Bloomington, Ill.

“Despite the modest dip in starts this month, we expect to see ongoing, gradual growth in housing production in 2016,” said NAHB Chief Economist David Crowe. “An improving economy, solid job creation and pent-up demand for housing should keep the market moving forward.”

Both single- and multifamily production dropped in January. Single-family housing starts fell 3.9 percent to a seasonally adjusted annual rate of 731,000 units while multifamily starts declined 3.7 percent to 368,000 units.

Combined single- and multifamily starts fell in all four regions in January, with the West, South, Northeast and Midwest posting respective losses of 0.4 percent, 2.9 percent, 3.7 percent and 12.8 percent.

Multifamily permits rose 2.1 percent to a rate of 482,000 while single-family permits fell 1.6 percent to 720,000.

Regionally, the Midwest, West and South registered respective permit gains of 26.5 percent, 24.5 percent and 0.3 percent. Permits fell in the Northeast by 55.4 percent.

Source: National Association of Home Builders (NAHB) 021716

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

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MarketGraphics Releases June 2015 New Home Permit Reports for Greater Nashville

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The Greater Nashville Area (12-County) New Home Permit Reports for June 2015
Courtesy of MarketGraphics Research Group | July 22, 2015

MarketGraphics-LogoMarketGraphics Research, located in Franklin, Tennessee, releases June’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

MarketGraphicsNewPermitsJun

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

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Builder Confidence Hits Highest Level Since November 2005

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Builder Confidence Hits Highest Level Since November 2005
Article by National Association of Home Builders | July 16, 2015

Treed-Home-LotBuilder confidence in the market for newly built, single-family homes in July hit a level of 60 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today while the June reading was revised upward one point to 60 as well. The last time the HMI reached this level was in November 2005.

“The fact that builder confidence has returned to levels not seen since 2005 shows that housing continues to improve at a steady pace,” said NAHB Chairman Tom Woods, a home builder from Blue Springs, Mo. “As we head into the second half of 2015, we should expect a continued recovery of the housing market.”

“This month’s reading is in line with recent data showing stronger sales in both the new and existing home markets as well as continued job growth,” said NAHB Chief Economist David Crowe. “However, builders still face a number of challenges, including shortages of lots and labor.”

Derived from a monthly survey that NAHB has been conducting for 30 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.

Two of the three HMI components posted gains in July. The component gauging current sales conditions rose one point to 66 and the index charting sales expectations in the next six months increased two points to 71. Meanwhile, the component measuring buyer traffic dropped a single point to 43.

Looking at the three-month moving averages for regional HMI scores, the West and Northeast each rose three points to 60 and 47, respectively. The South and Midwest posted respective one-point gains to 61 and 55.

### Editor’s Note: The NAHB/Wells Fargo Housing Market Index is strictly the product of NAHB Economics, and is not seen or influenced by any outside party prior to being released to the public. HMI tables can be found at nahb.org/hmi. More information on housing statistics is also available at housingeconomics.com. ###

Source: National Association of Home Builders, NAHB 071615

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Housing on Track for Best Year Since 2006

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Housing on Track for Best Year Since 2006
Article by Daily Real Estate News | June 11, 2015

Realtor-comThe residential real estate market, now at its midpoint in 2015, is on track for its best year since the peak of the housing bubble in 2006, notes realtor.com® chief economist Jonathan Smoke. But as Smoke is quick to point out, this time it’s not a housing bubble.

That’s because job growth is fueling the most recent climb in demand for homes. More than 3 million jobs have been created in the past 12 months.

As job growth increases, demand has followed. Homes are selling more quickly. The median age of inventory from homes on the market nationwide in May was 66 days – eight days faster than last year. Some markets are even seeing inventory move in just 18 to 45 days too, realtor.com® notes.

“A rapidly declining age of inventory signals that demand is growing more rapidly than supply,” Smoke writes in commentary at realtor.com®. “Indeed, we’ve had 32 months in a row of existing-home inventory at less than a six months’ supply. That’s why we’re also seeing above-normal price appreciation.”

Median home prices rose 9 percent in April year-over-year. Home owners are seeing strong gains in equity lately.

At the real estate’s market current level of growth, total home sales this year could near 6 million, which is near the peak seen in 2006, Smoke notes.

Source: “Midyear Report: The Housing Market Is on Track for Its Best Year Since 2006 (and it Ain’t a Bubble),” realtor.com® (June 10, 2015); REALTOR® Magazine Online, Daily Real Estate News 061115

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MarketGraphics Research Group Announces the Greater Nashville Area Top 10 Builders for 2014

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MarketGraphics Research Group Announces the Greater Nashville Area Top 10 Builders for 2014
Article by MarketGraphics Research Group | March 25, 2015

MarketGraphics-LogoMarketGraphics Research Group of Franklin, Tennessee released the Greater Nashville Area Top 10 Builders for 2014. Along with the Top 10 Builders announcement you can view the full report for 2014 (permits pulled) here… CLICK LINK for report

The Greater Nashville Area Top 10 Builders of 2014

  1. Ole South Properties (619)
  2. Goodall Homes (343)
  3. Regent Homes (276)
  4. NVR, Inc / Fox Ridge / Ryan Homes (271)
  5. Centex Homes / Del Webb / Pulte Group, Inc (251)
  6. Beazer Homes (208)
  7. The Jones Company of Tennessee LLC (192)
  8. Phillips Builders, a Meritage Homes Company (168)
  9. Parkside Builders LLC / Cute Cottage Company LLC (126)
  10. Celebration Homes (124)

Source: MarketGraphics Research Group (032515)
For additional reports & in-depth market analysis, please contact:
Paula Charles, MarketGraphics Research Group, Inc.
615-371-2282 | paula@mgresearch.net | http://www.mgresearch.net

Freddie: 2015 to Mark Best Year for Home Sales

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Freddie: 2015 to Mark Best Year for Home Sales
Article by Daily Real Estate News | March 13, 2015

FreddieMac-LogoFreddie Mac economists are bullish on housing.

“This month kicks off spring home buying season,” says Len Kiefer, deputy chief economist at Freddie Mac. “Between now and the end of June, we’ll see about 40 percent of all home sales for the year.”

It’s that optimism that has Freddie Mac forecasters expecting 2015 “to be the best year for home sales and new home construction since 2007, when total home sales were about 5.8 million for the year,” according to their U.S. Economic and Housing Market Outlook for March.

An improving job market is driving young professionals, ages 25 to 34, back to the labor force. The millennial age group now has 76.8 percent of its generation employed, as of last month, up from 75.9 percent last year.

Freddie Mac economists predict that rents will continue to rise at or above inflation this year, which will likely push more prospective buyers into home ownership. Rents rose 3.6 percent, on average, in 2014, and are up nearly 11 percent over the last three years, according to Freddie Mac’s report.

Meanwhile, Freddie Mac economists expect that the 30-year fixed-rate mortgage to rise slightly this year to a 4 percent average. The 30-year fixed-rate mortgage averaged 3.86 percent this week.

Source: “Freddie Mac March 2015 U.S. Economic and Housing Market Outlook,” Freddie Mac (March 11, 2015); REALTOR® Magazine Online, Daily Real Estate News 031515

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