In the first quarter of 2017, new single-family homes continued the trend of decreasing in size, the National Association of Home Builders reports on its Eye on Housing blog.Builders have largely focused on the higher end of the market following the recession, but that is showing some signs of changing.“As the entry-level market expands, including growth for townhomes, typical new home size is expected to decline,” notes Robert Dietz, the NAH
Many in the real estate market are looking to the townhome market to help fill the demand for greater entry-level homes for buyers. But the wait will be longer.Townhouse construction starts continued to increase on a year-over-year basis, but the growth rate has showed signs of slowing recently, according to an analysis by the National Association of Home Builders.Townhouse starts totaled 98,000 in the fourth quarter of 2016, a 4 percent increase
The Austin, Texas, metro area will boast the largest “net zero” master-planned community in the nation. At Whisper Valley, about 7,500 eco-friendly single-family homes, townhomes, and rental apartments are to be built completely energy-self-sufficient. That means the homes will send as much power back to the grid as residents use.The $2 billion community will open in the next month. It sprawls more than 2,000 acres about eight miles east of A
Buyers may be getting more opportunities to purchase a home on spec again. Following the housing crash, builders mostly put the brakes on spec building, waiting until a contract was in hand before they started construction. But now, 10 years after the crash, home builders reportedly are cautiously venturing back into spec-home building in order to meet the increase in buyer demand, particularly among the entry-level market.“There’s very stron
Which public builders are making the grade? BUILDER recently released its report card profile of 21 public companies, based on their sales for 2016.The BIG BUILDER Report Card compares the performance of public home builders and assigns them a letter grade based on that performance. Builders are graded in four major categories: financial, land, operations, and sales and marketing. The financial category carries the most weight at 40 percent of th
Home builders say that big data and analytics is not just a buzzword but also the top area of innovation in home building over recent years, according to a new survey by BUILDER. This includes the process of leveraging consumer data to determine patterns, trends, and preferences to make more informed business decisions.“Today’s technologies provide home buyers with more opportunities than ever to connect with us,” a spokesperson with David
Sales of newly built single-family homes increased for the third consecutive month, posting a strong showing to the spring selling season, the Commerce Department reported Tuesday. Single-family new-home sales rose 5.8 percent in March to a seasonally adjusted annual rate of 621,000 units.“The March sales numbers are the second highest on record since the Great Recession, which is especially encouraging considering the poor weather conditions t
Nationwide housing starts dropped in March, despite continued high buyer demand, which is adding pressure to overall home prices.Housing starts for single-family and multifamily homes dropped 6.8 percent in March to a seasonally adjusted annual rate of 1.22 million units, the Commerce Department reported Tuesday. Broken out, single-family production plunged 6.2 percent to an annual rate of 821,000 units in March month over month, following a stro
A ranch-style featuring a designer kitchen, blended living space and mixed-metal trimmings — such a house would embody 2017 luxury, so long as it was also decked out in smart home technology.That’s according to twin brothers Jonathan and Drew Scott, co-founders of Scott Brothers Entertainment and Scott Living.The duo and HGTV hosts — real estate agent (Drew) and fixer-upper transformer (Jonathan) — launched their first book this year,
New homes are getting larger, but their lot sizes are getting smaller. The median size of a new home increased from 1,938 square feet in 1990 to 2,300 square feet in 2016, but lot sizes during this same period decreased from 8,250 square feet to 6,970 square feet. That amounts to about a 16 percent decrease.However, the trend hasn't been consistent: Between 2006 and 2011, home buyers were showing demand for larger homes and larger lots. As home
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