National Outlook

IBS Wrap and 2017 Outlook

The big show in Orlando this week proves this much. Builders and their partners in the home building products, materials, and services world know well that these are uncertain times starting out of the gate in 2017. Nevertheless, they also know that sitting back and waiting for outside conditions to play out and get clearer is no way to deal with the limbo of uncertainty. Going for a good year–da …

Industry Experts Expect 55+ Market to Continue Rise

One of the topics garnering much discussion at the 2017 NAHB International Builders’ Show happening this week in Orlando, Fla. is the outlook for 55+ housing market. Will it stay hot or slow down? The BUILDER Taylor Morrison NEXTadventure Home was designed using exclusive new insight into what drives this the 55+ cohort’s purchasing decisions. At a press conference Tuesday, industry experts voiced …

BLS: U.S. Adds 156,000 Jobs in December

Despite a lackluster year-end report, average hourly earnings make the largest 12-month gain seen since 2009. The U.S. economy added 156,000 non-farm payroll positions in December, according to today’s monthly employment report released by the Bureau of Labor Statistics (BLS). This seasonally adjusted figure marks a 23.5 percent decrease from November’s upwardly revised addition of 204,000 jobs, a …

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Local View

DENVER HOUSING 3Q16: Rising Costs and Demand Drives Prices to Record Levels

Robust activity earlier in the year has kept starts growing at year over year rate with annual starts up 24% to 10,563 homes – the highest level of starts since 2007 Homes with base prices above $400k now 
represent 67% of the market, and homes priced
 above $500k represent 27% – both all-time
 highs fueled by steady demand from move-up 
buyers coupled with rising land, development,
materials cost …

PHOENIX HOUSING 3Q16: The Market Continues to Normalize – Pressures on Affordability are Rising

Through 3Q16, Annual New Home Starts are up 28% YoY – Annual Closings are up 31% in the Same Period The Latest Tally of Under Construction Units was the Highest Witnessed since 2007 Affordability remains high compared to nearby California, which will help drive housing demand from out-of-state home buyers. Metrostudy’s survey of the Phoenix housing market shows that there were 16,612 total annual …

LOS ANGELES COASTAL HOUSING 3Q16: Affordability Pressures Increase – Rising Prices Push New Homes Out of Reach for Average Buyers

Annual New Home Starts ended 3Q16 up 24.2% YoY Constraints on the supply-side have accelerated price appreciation and decreased affordability. In the new home market, less than 30% of Los Angeles residents are able to afford an average priced new home Overall, we anticipate a stronger housing recovery in 2017. Job growth will lead to higher incomes, while mortgage rates remain near historical lows …

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