New Construction - Real Estate, Updates, News & Tips

Strong Building Activity Tests Agents

Even as real estate professionals across the country grapple with a persistent shortage of homes available for sale, some agents are facing a different kind of challenge: convincing buyers to consider existing properties when builders are briskly turning out new homes a short distance away.That’s the situation in the coastal South Carolina city of Myrtle Beach, where a strong supply of new homes is prompting many buyers to shun properties that

Read More

3 Metros With the Most New Construction

The pace of construction is a major influence over whether housing prices remain affordable in a city, according to a recent article at Forbes.com. Between 2010 and 2016, an overall annual rise in national housing permits led to major metros issuing permits for projects "in the [high-$400,000 or low-$500,000] figures annually," according to Census data. But three metros stood above the rest: Dallas-Fort Worth-Arlington, Texas; New York-Newark-Jer

Read More

Why Builders Are Feeling So Upbeat

Builder confidence in the newly built single-family market soared to a 12-year high this month, according to the National Association of Home Builders/Wells Fargo Housing Market Index. The index rose six points to a 71 reading, the highest level since June 2005.Builders are showing more confidence over current sales conditions, sales expectations over the next six months, and current buyer traffic.Also, "builders are buoyed by President Trump's a

Read More

Why New Homes Are About to Get Pricier

With 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. "Neg

Read More

Buyers Are Being Drawn to New Homes

Sales of newly built, single-family homes increased 3.7 percent last month, reaching a seasonally adjusted annual rate of 555,000 units, the Commerce Department reports."We can expect further growth in new home sales throughout the year, spurred on by employment gains and a rise in household formations," says Robert Dietz, chief economist of the National Association of Home Builders. "As the supply of existing homes remains tight, more consumers

Read More

The Office Construction Surge Is Coming

Office construction is on the rise across the U.S., and 2017 is expected to be another mega year for the sector.Indeed, 2017 is expected to surpass office construction starts from 2016 by 10 percent – or 10 million more square feet than in 2016, according to Dodge Date & Analytics’ 2017 Dodge Construction Outlook. Dodge forecasters are predicting that this year the office sector will post the largest surge in starts than any other segment

Read More

Why a Homebuilding Boom May Still Be Far Off

Many markets are calling for greater new-home construction to meet buyer demand and counter housing shortages plaguing many areas. But the homebuilding industry is facing a big challenge in meeting that call: They can’t find enough skilled workers.The Bureau of Labor Statistics Job Openings and Labor Turnover Survey shows that nearly 200,000 construction industry jobs are unfilled across the country, an increase of 81 percent in just two years.

Read More

Builders Pick Up the Pace This Winter

Housing production nationwide edged up 11.3 percent on a seasonally adjusted basis in December due to a surge in multifamily construction, the Commerce Department reported this week. Multifamily production – often viewed as volatile month-to-month – surged 57 percent to 431,000 units in December.Single-family starts, on the other hand, fell 4 percent to a seasonally adjusted annual rate of 795,000 units. But builder sentiment remains high for

Read More

Open Floor Plan Still Popular

Open floor plans continue to reign. Eighty-four percent of builders say that in the typical single-family home they build, the kitchen and family room arrangement is at least partially open. Fifty-four percent say it’s completely open, according to responses from a September 2016 National Association of Home Builders/Wells Fargo Housing Market Index.“Completely open” essentially means the two areas are combined into the same room. Partially

Read More

Survey Reveals the Most Trusted Builders

Taylor Morrison is the most trusted among national home builders, according to the results from Lifestory Research America’s Most Trusted 2017 Home Builder Study. The study tracks more than 100 builder brands in the 35 largest U.S. housing markets, and collects the perceptions of trust in home-builder brands as expressed by more than 31,000 would-be buyers."When a brand attains the trust of people, the brand stands apart from all others," says

Read More

This website includes images sourced from third party websites including Adobe, Getty Images, and as otherwise noted.