National Outlook

AN AGING HOUSING STOCK CALLS FOR MORE NEW HOMES

Homes six years or younger make up just 2% of the current owner-occupied housing stock. By Robert Dietz One consequence of the reduced level of single-family construction since the Great Recession has been an aging of the country’s housing stock. According to NAHB analysis of the most recent edition of the American Housing Survey (2013), the typical owner-occupied home is 37 years old. This repres …

The 2017 Metrostudy Housing Outlook Breakfast

Data and forecasts to prepare companies for 2017. Metrostudy will host a forum during the Builders’ Show on Jan. 11 from 7:30 to 9:30 a.m. at the Hyatt Regency Orlando. Mark Boud, Metrostudy senior vice president and chief economist, will present his 2017 national housing and economic forecast. Boud also will touch on affordability, using economic, socioeconomic, and demographic forecasts to predi …

BLS: 178,000 JOBS ADDED IN NOVEMBER; 19,000 IN CONSTRUCTION

Employment bounces back following a lackluster jobs report in October. By Hanley Wood Data Studio The U.S. economy added 178,000 non-farm payroll positions in November, according to today’s monthly employment report released by the Bureau of Labor Statistics (BLS). This seasonally adjusted figure—a significant increase from October’s downward revised addition of 142,000 jobs—fell slightly short of …

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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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