Posts Tagged ‘six months’

Builder Confidence Holds Steady in September

September 17th, 2013 Comments off

According to the National Association of Home Builders (NAHB) Wells Fargo Housing Market Index (HMI), builder confidence in the market for new, single-family homes remained unchanged in Sept. at 58. “While builder confidence is holding at the highest level in nearly eight years, many are reporting some hesitancy on the part of buyers due to the sharp increase in interest rates,” said NAHB Chairman Rick Judson. Based on builder perceptions of current sales, sales expectations for the next six months and traffic of prospective buyers, the survey has been used for 25 years, and any number over 50 indicates more builders see conditions as good rather than poor. MHProNews has learned all four regions recorded gains: The Midwest and the West each advanced four points, and the Northeast and South both saw gains of two points.

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Private/Public Collaboration Issues Flatpack Modular Shelter

September 12th, 2013 Comments off

Swedish retailer Ikea has partnered with the United Nations refugee agency (UNHCR) to develop a shelter now being used in Syrian refugee camps. The modular flatpack shelters, constructed to house up to five people, are made of insulated plastic panels that snap into a metal frame. The units also have solar panels and USB ports for electricity, and a shading sheet that reflects heat during the day but traps warmth at night. Unlike tents, which last only about six months, these modular structures are built to last three years. As informs MHProNews, there are 3.5 million refugees around the globe living in tents and shelters, with the average stay in a camp of 12 years. 50 prototypes were sent to the camps in Syria. The Ikea Foundation has invested $4.8 million to develop the unit.

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Improving Housing Market Hits Highest Level

September 9th, 2013 Comments off

The National Association of Home Builders (NAHB) reports 44 markets have been added to the First American Improving Markets Index (IMI) for Sept., bringing the number to 291, the highest number since the index began two years ago. Based on improvement in housing permits, employment and home prices for at least six months, only five markets were dropped from the list in Sept. “The dramatic increase in markets qualifying for the IMI in September was partly due to a recent improvement in the way that Freddie Mac measures home prices, which resulted in stronger gains than previously reported,” noted NAHB Chief Economist David Crowe. “Even so, the broadened list of metros on the IMI continues to demonstrate the slow but steady gains that individual housing markets are making to bolster the national outlook.” As MHProNews has learned, every state has at least one county that is part of an improving market.

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Mood Continues to Brighten for Home Builders

August 15th, 2013 Comments off

Builder confidence for new, single-family homes rose three points to 59, according to the National Association of Home Builders (NAHB) Wells Fargo Housing Market Index (HMI), bringing the index to its highest mark in almost eight years. Any number over 50 is rated as “good”, MHProNews has learned. The index measures current sales, traffic of prospective customers and sales expectations for the next six months. Says NAHB Chief Economist David Crowe, “Builder confidence continues to strengthen along with rising demand for a limited supply of new and existing homes in most local markets. However, this positive momentum is being slowed by the ongoing headwinds of tight credit and low supplies of finished lots and labor.” Regionally, the Midwest gained six points to 60, the West also moved up six points, to 57, while the South notched a four-point gain and the Northeast remained steady at 39.

(Photo credit: Sue Orgocki/Associated Press)

Builder Sentiment Rises for Senior Housing Market

August 8th, 2013 Comments off

Builder confidence in the 55+ housing market for single-family homes rose to its highest second quarter level since the National Association of Home Builders (NAHB) began keeping track in 2008. Marking the seventh quarter of year-over-year improvements, the Housing Market Index rose 24 points to 53, as MHProNews has learned. The index measures builders sentiment concerning current sales, prospective buyer traffic and anticipated sales for the next six months, in which any number over 50 means builders see the market as good rather than poor. “The 55+ HMI for single-family homes almost doubled from a year ago,” said NAHB Chief Economist David Crowe. “Sentiment in other segments of the 55+ market housing was strong as well. The main challenge for builders in many parts of the country is finding enough buildable lots in desirable locations and workers with the necessary skill set to respond to the increased demand.”

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Big Apple Sees Rise of First Modular Apartments

July 12th, 2013 Comments off

Near the tip of Manhattan Island in New York City is rising the Big Apple’s first modular residential structure, a seven-story apartment building of concrete and steel. The Stack, as builder Gluck+ Architects calls it, is being assembled at the rate of four modules a day. All 56 of the 45-foot modules are expected to be set by next week, with a projected October, 2013 completion of the interior finish work. Counting off-site building, the entire project will require ten months, six months less than on-site construction in this town called Inwood. As MHProNews has learned from fastcodesign, the modular units are assembled in a factory in Penn. and trucked to the site. “Normal construction is a nightmare,” say chief architect Peter Gluck. But in a factory situation, “You can easily supervise what’s being done, whereas in normal construction, that’s really hard to maintain.”

(Photo credit: fastcodesign–the Stack in New York City)

Materials sometimes Lacking for Home-building

June 24th, 2013 Comments off

Shortages of building materials may be significant in holding holding back a more robust return of the housing market, says the National Association of Home Builders (NAHB) Chief Economist David Crowe. According to a builders survey, 22 percent reported short supplies of oriented strand board (OSB), 20 percent said wall board, and plywood and framing lumber each noted an 18 percent shortage. On the lumber dealer side, shortages were more pronounced except for the wall board: OSB and plywood were in 37 to 38 percent short supply, framing lumber was 36 unavailable, and 12 percent reported shortages of wallboard. Not counting concrete products, almost double the number of lumber dealers than builders reported a price increase in the last six months. Builders said the cost of materials for a house rose, on average, 5.17 percent, while as MHProNews has learned, the lumbermen said their prices increased ten percent average.

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Housing Market Index Posts Largest Gain in over Ten Years

June 17th, 2013 Comments off

For the first time in seven years, builder confidence for newly-built single-family homes has surpassed the 50th percentile mark, which indicates builders see the market as good rather than poor. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) gained eight points to 52. Based on a survey the NAHB has been conducting for 25 years, the HMI measures builder perceptions of current sales, prospective buyers, and sales expectations for the coming six months. The index has not risen eight points since the fall of 2002. “This is the first time the HMI has been above 50 since April 2006, and surpassing this important benchmark reflects the fact that builders are seeing better market conditions as demand for new homes increases,” said NAHB Chairman Rick Judson. Regionally, the Northeast, South and Midwest all posted gains while the West fell one point, as MHProNews has learned.

(Photo credit: Fotosearch)

Survey Says: Housing Market Perception Improves

June 10th, 2013 Comments off

HousingWire reports a survey by Fannie Mae reveals ten percent more respondents in May than the previous month said it is a good time to sell a house, while five percent more said it is a better time to buy. Doug Duncan, chief economist at Fannie Mae, noting those who say it’s a good time to sell marked the highest increase in the survey’s three-year history, says, “This jump may foreshadow a gradual return to more normal levels of housing supply from their lows of recent months. In turn, increased housing supply could serve to temper increasing consumer home price expectations.” Forty-six percent say mortgage rates will rise, while 48 percent say rental rates will increase in the next six months. Meanwhile, as MHProNews has learned, 50 percent think it would be difficult for them to obtain a mortgage.

(Image credit: HousingWire)

Housing Markets Improving

June 6th, 2013 Comments off

According to the National Association Home Builders (NAHB)/First American Improving Markets Index (IMI), five U. S. housing markets have been added to the list of those returning to health in June. Based on housing permits, employment and house prices that have been improving for six months, “This is the fifth consecutive month in which the IMI has designated more than 70 percent of U.S. metros as improving,” observed NAHB Chairman Rick Judson. As MHProNews has learned, twenty-nine markets were added to the IMI while 24 markets fell away from the list. NAHB Chief Economist David Crowe says, “The number of improving markets is now more than three times what it was in June 2012.”

(Photo credit: knoxnews)