Residential Construction News, Trends and Strategies for Success

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Long-Term Boom in Remodeling Spending Projected - John Caulfield, Pro Remodeler

Long-Term Boom in Remodeling Spending Projected - John Caulfield, Pro Remodeler

A new report from Harvard Joint Center for Housing Studies believes that lifestyle changes could signal a longer-term boon in remodeling spending. In 2019, four in 10 home improvements were do-it-yourself projects. Yet, despite DIY spending levels remaining relatively stable since 2015, the share of DIY spending that year as it related to all of home improvement fell to a new low, 17% of total home improvement spending.
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SEPTEMBER NEW-HOME SALES UP 46.9% YEAR OVER YEAR (Builder Magazine)

SEPTEMBER NEW-HOME SALES UP 46.9% YEAR OVER YEAR (Builder Magazine)

Zonda’s New Home Pending Sales Index (PSI) posted more positive news in September. The indicator, which measures the number of new-home sales contracts signed across the country, grew to 170.7 last month, showing 2.7% month-over-month and 46.9% year-over-year increases and continuing the momentum of the ‘super V’–shaped housing recovery.
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Homebuilder Confidence Jumps to Highest Level in 20 Years - From CNBC

Homebuilder Confidence Jumps to Highest Level in 20 Years - From CNBC

A stronger economy and a severe housing shortage have the nation’s homebuilders feeling better than they have in two decades. Builder confidence in the newly built, single-family home market jumped 5 points in December to 76, the highest reading since June 1999, according to the National Association of Home Builders/Wells Fargo Housing Market Index. Anything above 50 is considered positive.
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New vs. Used Housing Prices

New vs. Used Housing Prices

There are a number of factors that make the post-Great Recession housing market unique among recent business cycles. A persistent skilled labor shortage, growth in land development and regulatory construction costs, a years-long period of under-building, and a sustained decline for housing affordability define the economics of the housing market over the past decade and have led to an affordability crisis. These supply-side headwinds have left clear evidence on the relative prices of new and exi...
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Here’s What Buyers of Newly Constructed Homes Want

Here’s What Buyers of Newly Constructed Homes Want

From The Washington Post by Michele Lerner July 26 -- Home builders naturally want to know what buyers want now and what they think they want in the future. Ashton Woods, a home builder in multiple markets in Florida, Texas, Arizona, North Carolina, South Carolina and Georgia, recently surveyed homeowners who plan to buy a new residence in the next 10 years to evaluate their preferences.
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14% of Adults Plan to Buy Home in Next 12 Months -- and 61% Will Be Shopping for a Newly Built Home!

14% of Adults Plan to Buy Home in Next 12 Months -- and 61% Will Be Shopping for a Newly Built Home!

From the NAHB, By Rose Quint on July 24, 2018 -- Fourteen percent of poll respondents are planning to buy a home within the next 12 months, and for 61% of those prospective home buyers, this would be their first time buying a home. In comparison, in the first quarter of 2018, 17% of respondents had plans to purchase a house within a year, and of those, 45% self-reported as first-time buyers.
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America’s 10 Fastest-Growing Suburbs Aren’t ‘Sleepy’ At All: It's a 'Burb Boom!

America’s 10 Fastest-Growing Suburbs Aren’t ‘Sleepy’ At All: It's a 'Burb Boom!

From Realtor.com by Lance Lambert | Jul 16, 2018 -- Americans are falling in love with the ’burbs again. The longstanding romance cooled a bit after the 2008 financial crisis, but as cash makes its way back into personal savings accounts, folks are again indulging their instinctual urge to grab their own piece of the national dream—front and back yard included, thank you very much.
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