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Posts Tagged ‘national association of homebuilders’

Housing Market Confidence Index for 55+ Homes Rises

November 10th, 2015 Comments off

homeownership   fotosearch stock photoBuilder confidence in the single-family 55+ housing market rose for the sixth quarter in a row, according to what the National Association of Homebuilders (NAHB) tells MHProNews, as the 55% + Housing Market Index edged up three points to 60. Any number above 50 indicates confidence is good.

As consumeraffairsreports, all three components of the 55+ single-family index notched increases from the previous quarter: current sales rose three points to 65, anticipated sales for the next six months edged up one point to 67, and the number for prospective buyers moved up three points to 46.

The four indices that track production and demand of 55+ multi-family rentals marked gains in the third quarter: Current production rose nine points to 55, projected future production and present demand for existing units gained sharply 11 points to 60 and 70, respectively, and future demand gained five points to 68.

NAHB Chief Economist David Crowe said: Like the overall housing market, we continue to see steady, positive growth in the 55+ market. With the economy and job growth continuing to improve gradually, many consumers are now able to sell their current homes at a suitable price, enabling them to buy or rent in a 55+ community.

With 10,000 people turning 65 every day in the U. S., the demand for senior housing will surely rise, presenting the opportunity for 55+ manufactured home communities to also develop. ##

(Image credit: fotosearch)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Price of New Single-Family Site built Home Rises over $120k to $468k

November 6th, 2015 Comments off

house under const  housingwireMHProNews has learned from constructiondive that the latest National Association of Homebuilders (NAHB) Cost of Construction survey reveals the average construction cost of a single-family home, 2,802 square feet, has risen to $289,415, increasing from $95 per square foot in 2013 to $103 per sf today.

Builders reported cost increases of five percent or less for labor, materials and subcontractors, but up to a 24 percent rise for framing and truss materials. They also reported difficulty locating framing crews. Some foundation work, concrete, block/brick and backfill costs hae risen 13-18 percent.

The average price of a single-family home hit $468,318 this year, up from $345,800 in 2014, but builder profit was down .3 percent from 2013. The rise has more to do with costs than profit. ##

(Photo credit: housingwire)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Multifamily Residential Building Expected to Slow in Coming Year

November 4th, 2015 Comments off

multifamily_building_Nov_2015_report__nahb__creditAccording to the National Association of Homebuilders (NAHB) index, the pace of multifamily residential construction rose 27 percent in Sept. over Sept. of 2014, while spending on single-family building was up 13 percent for the same period.

Total private residential construction for Sept. rose to a seasonally adjusted annual rate of $395 billion. On a month-to-month basis, private single-family was $222 billion, up by 1.3 percent over the August, 2015 number, while private multifamily rose five percent to $57 billion.

The index tells MHProNews that steady gains in the multifamily sector have been driving the index, but the pace of that sector is slowing, and accelerated growth is anticipated for the single-family sector in the coming year. ##

(Graphic credit: National Association of Homebuilders)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Homebuilders Confidence Level Hits High Mark

July 17th, 2015 Comments off

homebuilding  housingwire creditMarking the 13th consecutive month reading above 50, and hitting the highest point in nearly a decade, the National Association of Home Builders/Wells Fargo builders confidence gauge high 60 this month. Any number above 50 signals that builders are optimistic about sales trends, according to marketwatch.

This month’s reading is in line with recent data showing stronger sales in both the new and existing home markets as well as continued job growth,” said David Crowe, NAHB’s chief economist. Mortgage applications are close to their highest level in two years, indicating that a growing jobs market, continued low interest rates and a strengthening economy are helping home sales.

Ian Shepherdson, chief economist with Pantheon Macroeconomics, says the new numbers do seem to suggest “a real housing upswing is underway.

Hurdles, however, remain. Lenders are still skittish about financial and legal risks attached to making loans, buildable lots are becoming more rare, and as MHProNews reported July 3, 2015, labor shortages still trouble the trades, fallout from workers leaving the industry following the housing bubble. ##

(Photo credit: housingwire)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Wells Fargo – A Whole New Ball Game for Housing in 2015

January 15th, 2015 Comments off

sold-houses-increase-in-2015There is some good news on the horizon for the housing industry as many experts and economists expect an expanding market for 2015.

Most housing analysts are predicting substantial growth in housing activity in 2015 — much more than has been experienced during the past year. The Daily Journal  tells MHProNews  that the “2015 Economic Outlook issued by the Wells Fargo Economics Group is subtitled “A whole new ball game.”  This report predicts that the housing market will continue its recovery and gain momentum in 2015 after a disappointing 2014.

Wells Fargo cites a number of reasons in the report for its optimistic housing market predictions for next year: namely easing of credit, job and income growth, and mortgage rates nearing their lowest levels in a generation.

The economists predict existing home sales, which dropped by 3.8 % for the first 10 months of 2014, will grow by 4.1 % in 2015.

Single-family starts grew by only 6 % in 2014 because of a weak job market, slow household formation, tight lending standards and a backlog of troubled mortgages going through the foreclosure process.  However, these starts are expected to make a comeback in 2015. Economists expect that the percentage of single-family starts will more than double, up to 13.7 %.

Two major factors in the turnaround in homeownership have been the former rise in foreclosures and the earlier decline in home prices, according to Wells Fargo. The homeownership rate, which peaked 10 years ago, has fallen down to 64.4 %, the lowest rate for homeownership in 19 years.

“We would expect this series to overcorrect because of tight mortgage credit, changing attitudes towards homeownership and household finances that continue to be repaired,” the report says.

In addition, encouraging words come from the National Association of Home Builders. U.S. News & World Report tells MHProNews that Robert D. Dietz, an economist for NAHB, says “The signs suggest 2015 will be positive for housing, which in turn will generate benefits for the overall economy.” He predicts that single-family construction will grow in 2015 because of housing demand among prospective first-time home buyers.

David Payne, writing in the Kiplinger Letter, also predicts a stronger housing market in 2015. He says, “It’s the gradual easing of credit conditions that will break the leftover 2014 sales logjamThis easing will come from changes made by Fannie Mae and Freddie Mac.”

He continues by saying that first, down payments for Fannie and Freddie qualifying mortgages have been reduced from 5% to 3% for creditworthy first-time home buyers. This by itself will not open the floodgates, as most buyers in this category could have obtained a loan through the Federal Housing Administration (FHA). What is important is that the change signals mortgage lenders that Fannie and Freddie rules are beginning to relax, so lenders can consider making loans to folks that previously would have been ruled out automatically.” He also believes that lenders can lower interest rates, since they have less risk on loans sold to Fannie and Freddie.  ##

(Photo Credit: Kentucky Solutions)

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Article Submitted by Sandra Lane to – Daily Business News- MHProNews.

Multifamily Housing Production Rises

May 30th, 2014 Comments off

The latest Multifamily Production Index (MPI) released by the National Association of Home Builders (NAHB) reports production of apartments and condominiums rose three points in the first quarter to 53, marking the ninth consecutive quarter with a reading of 50 or above. The MPI is derived from three key elements of the multifamily housing market as determined by builder and developer sentiment: Construction of market-rate rentals, low-rent units and condominiums. The Multifamily Vacancy Index (MVI), which measures the industry’s perception of vacancies, fell one point to 37, indicating fewer vacancies, as MHProNews.com has been informed. “The MPI shows stable production of apartments and condos, which is what our forecast calls for,” said NAHB Chief Economist David Crowe. “In 2014, we expect multifamily starts to grow about 6 percent over 2013, to about 326,000 units.” ##

(Photo credit: bloombergbusinessweek.com–new multifamily housing)

Homebuilder Confidence Drops in January

February 20th, 2014 Comments off

Unusually severe weather combined with a shortage of available lots and labor led homebuilder confidence to fall ten points to 46, as determined by the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The survey gauges current sales conditions, sales expectations in the coming six months, and prospective buyer traffic. Any index number below 50 indicates builders view conditions as poor rather than good. MHProNews.com has learned the survey has been conducted for the past 25 years. ##

(Image credit: housingwire.com/shutterstock–confidence deflated)

Congressional Hearing Set on Dodd-Frank Impact

July 6th, 2012 Comments off

The Manufactured Housing Institute (MHI) will testify before the House Financial Services Subcommittee on Financial Institutions and Capital Markets July 11 concerning the impact of Dodd-Frank on residential mortgage reforms. Clayton Homes General Counsel Tom Hodges, representing MHI during the hearing, will address the measure’s unintended consequences that limit credit availability for purchasers of manufactured housing, and will discuss the benefits of HR 3849, the bi-partisan Preserving Access to Manufactured Housing Act sponsored by Reps Stephen Fincher, Joe Donnelly, and Gary Miller. Other organizations in attendance include Mortgage Bankers Association (MBA), National Association of Homebuilders (NAHB), and the National Association of Realtors (NAR). MHProNews.com has leaned MHI is the only MH industry association to testify.

(Photo credit: MHProNews)