National Outlook

BUILDER NAHB, AIA, AND ABC CHIEF ECONOMISTS PREDICT ONGOING GROWTH THROUGH 2017

National Association of Home Builders (NAHB) Chief Economist Robert Dietz, Associated Builders and Contractors (ABC) Chief Economist Anirban Basu, and American Institute of Architects (AIA) Chief Economist Kermit Baker delivered a collaborative midyear economic forecast Monday afternoon. The trio provided expert analysis of present and backward-looking economic indicators, and discussed their indi …

2013-’14 IRS DATA SHOWS STEADY TX., FLA. MIGRATION

The Internal Revenue Service has released its estimates of residential movement between counties and states for 2013 to 2014, based on claimed exemptions on tax returns. (Not everyone is covered by this sampling method, but the IRS estimates that it covers approximately 80% of the population.) According to these estimates, net domestic migration, or movement into a particular state, was by far the …

HOME BUILDER CONFIDENCE RISES IN AUGUST

NAHB index rises two points to a reading of 60. The National Association of Home Builders’ Wells Fargo Housing Market Index (HMI), released Monday morning, reported a score of 60 for August, two-points up from July’s downwardly-revised reading of 58. A score over 50 indicates a positive outlook for the home building industry. “New construction and new home sales are on the rise in most areas of th …

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Local View

SAN ANTONIO HOUSING 2Q16: Resale Market Shows Stronger Annual Growth Than New Home Starts

2Q16 annual new home starts increased 5.6% YoY; Annual new home closings up only 0.2% YoY. In 2Q16, 53% of annual new single-family starts were priced above $250K. Over the last twelve months, the market delivered approximately 11,000 new lots and, during 2Q16, 2,650 new lots were versus 2,619 lots absorbed. AUGUST 2016 – Metrostudy’s 2Q16 survey of the San Antonio housing market shows the annual …

SACRAMENTO HOUSING 2Q16: Strong Starts Pace Continues with Annual New Home Starts Up 43% YoY – Affordability Remains a Concern

2Q16 Annual New Home Starts were up 43% YoY & Quarterly Starts increased 31% – 2Q16 marked five consecutive quarters with more than 1,000 starts Start activity has shifted into price ranges above $400K as builders adjust pricing to offset increased construction costs – in 2Q16, the average “offer to build” base price for new homes in the region was $507K, up 9.5% YoY. Metrostudy expects Sacram …

NASHVILLE HOUSING 2Q16: Region Struggling to Meet Growing Demand For New Homes, As Prices Hit Record Highs

2Q16 Quarterly New Home Starts Highest In Over 7 Years; Quarterly Closings Up 38% YoY Affordability may soon become an issue as prices continue to rise; 2Q16’s average new home price of $381.1K exceeds 1Q16 to set new record high. Vacant Developed Lots remain in severe shortage; with annual starts outpacing annual lot delivery, the region cannot keep pace with the growing demand for new homes. AUG …

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