National Outlook

New Pool Index Indicates More Gradual Growth

While taking longer than other industries to reach pre-recession levels of activity, pool construction is definitively on the upswing. By Rebecca Robledo The latest quarterly index from market intelligence firm Metrostudy represents an industry that’s still growing steadily but gradually. Metrostudy, based in Irvine, Calif. and owned by PSN parent Hanley Wood, has released a report on the new ingr …

Remodeling Activity Hits New High, Latest RRI Shows

Conditions have increased 8.7% since the previous peak in 2007 and show no signs of stopping By Symone Garvett Source: Metrostudy Continued improvements in the U.S. economy drove the latest Residential Remodeling Index (RRI) to its 21st consecutive period of year-over-year quarterly gains since 2011 and an all-time record high of 108.7, according to Metrostudy’ssecond-quarter report released today …

The Lands of Opportunity

Hanley Wood Data Studio / Builder / August 7, 2017 Builders are looking to secure land for 2018, now that spring selling season is over. Average demand for new lots across Metrostudy’s 36 markets peaked in June, July, and August the past two years. While some builders look to acquisitions in order to secure lots—like D.R. Horton’s acquisition of publicly held mixed-use developer Forestar Group in …

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Local View

LAS VEGAS HOUSING 2Q17: Market at 2008 Levels; Higher Land and Construction Costs force Builders to Raise Prices

Through 2Q17, Annual New Home Starts are up 10% YoY – and at the Highest Levels since 1Q08 Production is shifting to the higher price points as nearly 20% of starts are now in the $400k-499k range. Under $200k Production has been nearly eliminated. Compared to June 2016, the average asking price of for-sale homes is 12% higher at $435k Metrostudy’s 2Q17 survey of the Las Vegas housing market shows …

HOUSTON HOUSING 2Q17: 2017 Looks to be Stronger than Anticipated – Growth Trajectory should slow in 2018

Houston remains the second highest volume new home market in the country, with just Dallas/ Fort Worth achieving a greater number of starts over the 2Q17 trailing twelve months. Through 2Q17, Annual New Home Starts are up 4.1% YoY, Quarterly New Home Starts are up 8.5% YoY. The percentage of all homes in inventory that are finished vacant has fallen back below the 35% equilibrium threshold for the …

Lennar purchases 2,500-acre St. Charles community in Waldorf, MD

It was announced this week that Lennar purchased the 2,500-acre St. Charles community in Waldorf, MD (price not disclosed).  According to Charles County, the acquisition reduces the number of planned housing units by more than 2,500.  This settles a legal matter between the former owner, Federal Capital Partners, and the county over school allocation commitments.  Not only does the reduced density …

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