Industry News and Updates
Declines for Custom Home Building
by HBA of North Georgia on 08/21/23
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building gained market share during recent quarters but experienced a drop for construction starts.
There were 49,000 total custom building starts during the second quarter of the year. This marks almost an 8% decline compared to the second quarter of 2022, consisting with weakness experienced throughout the home building sector. Over the last four quarters, custom housing starts totaled a solid 189,000 homes, a 7% decline compared to the prior four quarter total (204,000)....
Read full story at NAHB site. HERE!
Single-Family Starts Edge Higher in July but Rising Rate Concerns Persist
by HBA of North Georgia on 08/21/23
A lack of existing inventory and solid demand for housing helped offset rising mortgage rates and push single-family production higher in July, even as builders continue to grapple with elevated construction and financing costs as well as a lack of skilled labor.
Overall housing starts increased 3.9% to a seasonally adjusted annual rate of 1.45 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.....
A lack of existing inventory and solid demand for housing helped offset rising mortgage rates and push single-family production higher in July, even as builders continue to grapple with elevated construction and financing costs as well as a lack of skilled labor.
Overall housing starts increased 3.9% to a seasonally adjusted annual rate of 1.45 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Debunking the Top Myths in the Remodeling Business
by HBA of North Georgia on 08/21/23
Owning a business can be very tricky, and for many talented remodelers, managing a business successfully is harder because of persistent myths in the remodeling industry.
In the latest installment of NAHB’s Remodeling Forecasts, Myths & Trends video series sponsored by Lowe’s Pro, longtime remodeler and subject matter expert Alan Hanbury, Jr., CGR, GMR, CAPS, MBA, highlights five industry myths that could be limiting some remodelers’ business potential.......
Read full story at NAHB site. HERE!
Construction spending ticks up, led by housing
by HBA of North Georgia on 02/09/19
What happened: Economists surveyed by Econoday had forecast a 0.2% increase, but October figures were revised down. Outlays in November were 3.4% higher than a year ago, and for the first 11 months of 2018, were 4.5% higher than the same period in the prior year.
Big picture: Residential construction spending was up 3.4% during the month, and was 0.6% higher for the year. That’s good news for the supply-starved housing sector. In November, overall private-sector spending was 1.3% higher for the month, edging out a 0.9% decline in public-sector spending.
Americans are starting to feel better about buying homes — sort of
by HBA of North Georgia on 02/09/19
- The share of Americans who say it is a good time to buy a home increased 4 percentage points to 15 percent in January compared with December, according to a monthly survey from Fannie Mae.
- Home price gains have been shrinking since last summer and are now rising at the slowest pace in more than six years, according to CoreLogic.
- The share of Americans who say home prices will go up fell 1 percentage point to 30 percent.