More than 10 percent of new single-family homes that began construction in 2016 were part of a teardown project, according to new data from the National Association of Home Builders. That’s up from 7.7 percent in 2015. NAHB defines a teardown as a home that is built on a site where a previous structure existed. Nationwide, there were 79,300 single-family teardowns started in 2016, up from 55,200 in 2015, NAHB estimates.Builders continue to
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Builders from across the country are teaming up this week for Habitat for Humanity’s Home Builders Blitz, an annual event where builders work on repairing or constructing homes for those in need. Hundreds of builders across 32 cities within 17 states are participating this year to deliver more affordable homes in their area during the week, BUILDER online reports.Habitat, partnering with Ply Gem, teamed with local builders, manufacturers, and
Investment companies are betting big that the rental boom will continue, which is why they’re still snatching up properties even as foreclosures dry up.Following the financial crisis, investors purchased foreclosures on the cheap and then rented these single-family homes out for profit. It’s a move that worked for several years, but now there are fewer foreclosures to buy, home prices are on the rise, and there’s fewer homes overall on th
Sales of newly built single-family homes plunged 11.4 percent in April to a seasonally adjusted annual rate of 569,000 units, the first time such sales have decreased this year, the Commerce Department reported this week. Still, builders are writing off the dip as a minor setback, instead focusing on the bigger picture."Despite some slowness this month, total new-home sales in 2017 are up more than 11 percent from this time last year, and builder
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
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