National Outlook

Recap: Metrostudy 1Q17 Housing Webcast

On February 15th Metrostudy’s Chief Housing Economist, Mark Boud, presented his housing webcast to a virtual room of nearly 1,200 registrants. The following three Regional Directors from  FL and NC joined Mark in a round table lightning session to also present the trends and outlook for their southeastern local markets: Tony Polito (Tampa/Sarasota FL), Anthony Crocco (Jacksonville, Orlando, and Ce …

Affordable Housing: Something’s Gotta Give

In many parts of the country, entry-level affordable housing is more an oxymoron than reality. Homebuilders — and their buyers — continue to be frustrated by the same challenges: limited close-in lot supply, high lot prices, and tons of fees tacked on by municipalities. According to Metrostudy’s 2016 home sales data, entry-level new home sales represented 16 percent of all new homes sold, and 1 pe …

Single-Family Starts Increase in January

Single-family housing starts increased to a seasonally adjusted annual rate of 823,000 in January, according to new residential construction data released by the Commerce Department Thursday morning. This month’s result marks a 1.9% increase from December’s downwardly-revised rate of 808,000, but represents a 6.2% gain compared to January 2016, when the estimate was 775,000. All regions excluding …

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Local View

ORLANDO HOUSING 4Q16: 2016 Ends Strong – Pricing Gap Closing Between New Home Market & Resales

4Q16 Quarterly New Home Starts Up 25% YoY & Quarterly Closings Up 20.4% YoY. One good sign for the market: finished vacant inventory has seen little to no increases in 2-plus years, while construction activity has increased by 40%. Starts continued to increase at the higher price ranges – $300K to $350K starts up 36.9% YoY – as new construction in the $199K and below ranges continue to decline …

TRIAD HOUSING 4Q16: 2016 Ends With Strong Growth In Starts; Under Construction Inventory Shows Growing Builder Confidence

4Q16 Annual New Home Starts Up 13% & Annual Closings Up 8.1% YoY; Quarterly Starts Up 30.3% & Quarterly Closings Up 5.6% YoY. Inventory of homes under construction was up 27,4% YoY; the uptick in relative supply from last year is an indication of growing builder confidence. Vacant developed lot inventory declined 8.4% from prior year levels; VDL inventories are expected to continue to decl …

RALEIGH-DURHAM HOUSING 4Q16: Double-Digit Gains in Fourth Quarter; Continued Growth Expected in 2017

4Q16 Quarterly New Home Starts Up 15.3% & Quarterly Closings Up 9.4% YoY; Annual Starts Up 12.6% & Annual Closings Up 5% YoY. Homes priced between $300K and $399K continued to lead the market, up 39% YoY. In 2016, Triangle developers delivered 11.5% more lots than in 2015 – yet the current development timeline is significantly longer than normal due to major capacity constraints. Metrostud …

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