The Official Online Newspaper of NAHB
Providing builders with a wealth of data against which they can make cost comparisons, NAHB’s latest construction cost survey of single-family homes points to a recession-related downward trend in home sizes and prices and shows that builder profits on their homes have skidded to an all-time low.
The NAHB survey was initiated in 1995 and has been conducted six times since then.
More recently, the collection of information on the various components that go into the price of a typical single-family home — in 2009 and this year — has used a better, more representative sample of single-family construction across the country.
The 2011 survey shows that construction costs accounted for almost 60% of the final sales price of an average home, and the cost of the finished lot accounted for 22%.
The survey — which is based on responses from 44 builders — is not large enough for a geographic breakdown, and builders are likely to spot differences in where some of their figures come in compared to the national averages provided.
“Building practices, the cost of labor, the cost of land and, to some extent, the cost of the materials can vary from place to place and depend on the nature of the particular home being built,” writes Heather Taylor, an NAHB economist and the author of the study. ... Read More
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|OSB Composite||$ 200||$ 1|
|Southern Pine Plywood Composite||$ 428||$ 2|
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The home owner originally had an elevator installed in her Cincinnati-area home, which was built 21 years ago, so she could age in place as her muscular dystrophy progressed and her strength and mobility deteriorated.
But last year, after several falls in the shower and increasing difficulty moving and reaching things, she contacted Hearth Professionals to remodel her master bedroom and bathroom and make other changes — including creating an alcove to serve as a laundry room and a small bar — to enhance her home’s livability. ...... Read More
In a major grassroots, legislative and media push led by NAHB, Congress is being urged to reinstate higher loan limits for mortgages purchased or backed by Fannie Mae, Freddie Mac and the Federal Housing Administration.
The Senate recently approved restoring the higher conforming loan limits, which now face deliberation in the House.
The limits were temporarily raised to help bolster the nation’s depressed housing market.
Expecting housing to be moving decisively into recovery during the second half of this year, Congress allowed the limits to revert to their lower levels as of Sept. 30. ...... Read More
Nation's Building News will publish a special issue on Dec. 5 previewing the upcoming 2012 NAHB International Builders' Show in Orlando, the largest residential and light commercial trade show in the world.
The issue will include images, features and floor plans of The New American Home; new products on display on the show floor; IBS events, courses and schedules; and more.
IBS will be held at the Orange County Convention Center on Feb. 8-11.
For more information — and to register for the show — visit the NAHB International Builders' Show website at www.BuildersShow.com.
Nation's Building News will not be published on Nov. 28.
Regular biweekly publication will resume on Dec. 5 with the special preview issue of the 2012 NAHB International Builders' Show.
|* Seasonally Adjusted Annual Rate|