The Official Online Newspaper of NAHB
Despite a disappointingly slow first quarter of 2011, the pace of housing activity will pick up some momentum for the balance of the year and actually start feeling like a real recovery in 2012, according to panelists participating in NAHB’s Construction Forecast Webinar on April 27.
With more foreclosures in the pipeline and some further decline in housing prices nationwide, the industry is not entirely out of the woods yet, the economists warned.
But home prices nationally are just about back to where they should be relative to income following explosive growth during the boom, mortgage rates will remain relatively affordable and an increasing number of prospective buyers will start coming out of the woodwork as they see job prospects and the national economy continue to improve. ... Read More
|Framing Lumber Composite||$ 264||$ 5|
|OSB Composite||$ 194||$ 1|
|Southern Pine Plywood Composite||$ 425||$ 8|
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Modern amenities blend with the appeal of historic and rustic architecture in The Hillview, an award-winning, custom- designed 3,167-square-foot log home in Jefferson City, Mo., that the owners plan to enjoy as they grow older.
An example of modern log home construction, the home owner designed the property to take full advantage of magnificent views of the surrounding countryside from several vantage points.
She also added aging-in-place features, including wider hallways, three-foot-wide doorways, a main-level owner’s suite and other smart elements. ...... Read More
Rental housing is poised to recover quickly from the ill-effects of the recession and is likely to lead the housing recovery, according to new study from the Joint Center for Housing Studies of Harvard University.
But the supply of housing, the Harvard researchers suggest, may not be adequate to keep up with fast-rising demand, resulting in a significant climb in rents that will be especially difficult for households at the lower end of the pay scale who disproportionately make up the ranks of the nation’s renters.
While rental housing lost significant ground during the Great Recession, “the ingredients for a surge in demand may be present,” according to the report, “America’s Rental Housing — Meeting Challenges, Building on Opportunities.”
“The recession has not only dampened the rate at which young adults form independent households, but also stalled the pace of immigration — both drivers of rental demand,” the study says.
But “when job growth regains momentum, the number of renter households could climb quickly,” Harvard researchers conclude. ...... Read More
More builders are diversifying their business to include remodeling, according to recent NAHB survey research of the business activities of the association's membership.
While an estimated 19% of the association’s building industry professionals were primarily engaged in remodeling in 2008, in a 2010 survey 25% indicated that they were primarily remodelers.
The percentage of members who indicated that remodeling was a primary or secondary business activity rose to 57% in 2010, up from 53% in 2008.
Paul Magleby, chairman of Magleby Companies in Salt Lake City, transitioned into remodeling five years ago because he wanted to expand his business offerings and had a ready market of clientele. ...... Read More
As NAHB kicks off the 2011 National Membership campaign, one South Dakota home builders association plans to take advantage of this year’s poker-style theme, The Winning Hand, by upping the ante of its successful fundraising campaign for its charitable and scholarship foundation, which netted more than $20,000 last month.
The Home Builders Association of The Sioux Empire will build on the excitement and energy generated during a recent casino night benefiting its Care Foundation. The fundraiser “far exceeded any and all expectations we had,” said the HBA’s executive officer, Julie Terrell.
The event featured a raffle, poker, a bean bag toss, black jack, dice and other games. “We even had an HBA version of beer pong. There was water in the cups,” Terrell said. ...... Read More
NAHB and home builders associations throughout the federation are ready to help the victims of the severe tornadoes and storms that tore through large portions of the South in late April, wiping out homes and businesses and claiming hundreds of lives.
Alabama, where 31 of 67 counties saw significant damage, was the hardest hit. Arkansas, Georgia, Mississippi and Tennessee are among states also affected.
On May 2, NAHB Chairman Bob Nielsen sent a memo to the board of directors and all state and local HBA executive officers to let them know how they can help. ...... Read More
|* Seasonally Adjusted Annual Rate|