National Outlook

Census and Sensibility

John McManus / Builder / June 19, 2017 Headline data for Friday’s housing starts and permits data release show a downward spike, to 1.092 million, a 5.5% sequential (month-to-month) decline. Calculated Risk blogger and economics observer Bill McBride called this a “weak report and [was] well below consensus,” as he noted that the May 2017 figure was 2.4% lower than the same month a year earlier. T …

Housing Starts, Permits Drop in May

Builder / June 19, 2017 Housing starts in May fell 5.5% from April to a seasonally adjusted annual rate of 1,092,000, 2.4% behind the pace of May, 2016, the Commerce Department reported Friday. Building permits also fell in May, dropping 4.9% from April to a rate of 1,168,000, 0.8% below the May 2016 rate. Single-family housing starts in May were at a rate of 794,000, 3.9% below April but 8.5% abo …

How to Fit Innovation Into a Structured Permit Process

Jennifer Castenson / Builder / June 12, 2017 When Meritage executives set out to participate in the 2018 BUILDER Concept Home, they had a clear, ambitious goal in mind: to change the industry by reimagining what renewable and resilient mean in home building. With that lofty goal and a floor plan in mind, the team started the project. One key to the process was working with suppliers on cutting-edg …

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Local View

Austin: More Sticks In The Air Than Ever Before

The Austin new home market is as active as it’s ever been.  Did the spring selling season meet builder expectations for sales?  Watch this short video to learn what you need to know  in advance of the 2Q17 Metrostudy Austin Executive Client Briefing. For more information about the Austin market or to find out more about the Executive Client Briefing, contact Vaike O’Grady.

SEATTLE HOUSING 1Q17: Rising Prices Not Slowing – Demand Pushing into Outlying Counties in Search of Affordability

As the region grows we are seeing some exit migration out of the greater Puget Sound into outlying counties such as Chelan, Mason, Jefferson and Skagit. We expect continued price increases in 2017 – already prices for new construction in King County are up 21% YoY while Kitsap is up 24% and appears to have run out of affordable housing. Lot availability is at critically low levels, which will furt …

PORTLAND HOUSING 1Q17: A Market Driven by Fundamentals – Rising Prices May Force Additional New Home Buyers into the Resale Market

Detached single family starts have outpaced sales velocity for four consecutive quarters, causing increases in the months of supply. The cost of construction and dirt continue to rise so builders are left with little option but to raise prices, but we will see sales continue to slow slightly due the lack of affordability. This is NOT 2007 all over again: While price points are well above where the …

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