tag:blogger.com,1999:blog-88865541541888216722024-10-08T00:44:17.147-07:00Building & construction news, markets, press releases, data, and forecasts.Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.comBlogger29125tag:blogger.com,1999:blog-8886554154188821672.post-30573481293696749862009-10-29T10:02:00.001-07:002009-10-29T10:02:51.191-07:00

WASHINGTON (Reuters) - The U.S. economy grew in the third quarter for the first time in more than a year as government stimulus helped lift consumer spending and home building, fueling an unexpectedly strong advance.    Read more

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-24477418134204800812009-08-12T05:20:00.001-07:002009-08-12T05:20:33.814-07:00

The National Association of Home Builders have heard from their members that the housing tax credit for first time home buyers has been driving sales, and recent economists’ observations have shown the truth – the tax credit is working.  People are buying homes.  But with the credit about to expire in November and the housing market still struggling, the NAHB wants Congress to extend

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-65432424972200598272009-08-12T03:48:00.001-07:002009-08-12T03:48:55.234-07:00

US News put together a pair of stories calling out the best and worst cities as far as the real estate market.  The story hedges toward commercial properties but as the troubles of the past year has emphasized, it is important to follow the jobs and businesses when we talk about housing. 10 Areas Ready for Recovery: Tulsa, OK Pittsburgh, PA Long Island, NY District of Columbia

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-42695122208057625042009-08-12T03:32:00.001-07:002009-08-12T03:32:38.804-07:00

The Illinois Association of Realtors announced Tuesday that home sales were up 67% in the 2nd quarter versus the 1st quarter of 2009.  The year over year numbers are still down versus 2008 however.  Also a good sign is the fact that home prices actually increased 7% as well.  When higher sales are driven by weakness in pricing you can argue that there is still uncertainty in the

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-89687272728992732782009-08-04T10:41:00.001-07:002009-08-04T10:41:47.318-07:00

According to Jim Haughey of Reed Construction Data the federal stimulus package is starting to work and we should see a return to growth during 2010.  Spending on single family residential housing is forecast to grow 10% next year, with 528,000 units expected versus a predicted 375,000 for 2009.  The fact that there are conflicting signals between consumer confidence (bad) and the

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-65571374405138459992009-08-03T16:30:00.001-07:002009-08-03T16:30:57.882-07:00

One of the side benefits of the $8,000 federal tax incentive for home buyers that it is driving the housing market by prompting builders to put up spec homes.  It seems almost counter intuitive that people wouldn’t just buy up the current inventory.  However the tax incentive requires that people close on their homes by Dec. 1st.  If the buyer cannot find a home by then, the

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-88140785313735454482009-08-03T10:56:00.001-07:002009-08-03T10:56:39.412-07:00

I read this good article on how the housing market is having an impact on the economy overall.  In short, when housing isn’t doing well it has a HUGE impact on the overall production numbers.  The author cites decreased inventory and increased sales as being positive but that the jobs market is still driving foreclosure levels to remain high.  Sure, we have heard that from several

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-82751128271120243902009-08-03T10:49:00.001-07:002009-08-03T10:49:49.622-07:00

Construction spending was up 0.3% in June compared to estimates of a 0.5% drop.  Although the spending is still down versus 2008 by 10.2%, the data comes as another indication that the economy may be bottoming out.  The spending was assisted by public spending and federal government spending, as well as private residential.  The economy overall still shrank 1% during the first

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-56207943897588634602009-07-30T05:29:00.001-07:002009-07-30T05:29:02.577-07:00

Ryland homes reported a net loss of $73 million on Wednesday, the equivalent of $1.70 per share.  This number was actually better than 2QTR 2008 in which the net loss was $241 million.  Their profit margin was up from 6% in the 1st QTR to 7.8%, which probably derives from cost saving measures.  The company also closed a $200 million line of credit saying that it has sufficient cash

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-72644060883832380752009-07-28T09:14:00.001-07:002009-07-28T09:14:22.175-07:00

There are a lot of views being thrown around in the blogosphere during the last week or two regarding the new sales data released for June ’09. It seems that there is a lot of “spin” going on depending on which outlet you read. I try to be positive and in general I think that if everyone thought more positively then we would already have our recovery instead of sitting around waiting for it.

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-75122311110109461952009-07-27T10:29:00.001-07:002009-07-27T10:29:49.863-07:00

Reuters reported that the Commerce Department announced that home sales rose 11% in  June which is the largest monthly increase since 2009, almost 10 years.  In addition the inventory of homes for sale is at the lowest point in 11 years.  With interest rates still fairly low this should be great news for the building sector.  Now if we can curb unemployment so buyer confidence

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-28915450954927836312009-07-22T13:06:00.001-07:002009-07-22T13:06:16.521-07:00

Some areas of the country are starting to rebound in pricing within the last few months according to the Federal Housing Finance Agency.  Although prices have declined 5.6% from May 2008 to May 2009 the prices were up 0.9% which is far better than the –0.2% drop expected by a Bloomberg survey of Economists.   Bloomberg.com

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-71899282434478581762009-07-22T05:32:00.001-07:002009-07-22T05:32:30.005-07:00

Rates opened the week of July 20th at a low rate of 4.875%, but quickly climbed again by Friday to 5.25%.  The change in outlook is a sign that investors believe that there will be a quick economic recovery.  The Leading Indicator which is a composite of several data points came in higher than expected, also suggesting that we may be turning a corner.  Read more at:

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-65069735281033798402009-07-17T05:59:00.001-07:002009-07-17T05:59:29.457-07:00

The NAHB index of builder confidence rose to 17, the highest number since September of last year.  Readings below 50 mean that conditions are unfavorable.  Buyer interest has been increasing due to the lower home pricing, low interest mortgages, and tax credits.  Economists are forecasting an economic recovery during the second half of the year, although the article does not say if

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-79700359406159823312009-07-17T05:42:00.001-07:002009-07-17T05:42:45.578-07:00

Condo and home sales are up in the Bay Area by 20% versus last year and at a 3 year high, according to Bloomberg.com.  The average price dropped by 27% during the same period.  The drop in available jumbo loans (for purchasing expensive homes) and increase in foreclosure sales likely drove prices down.  I say in any market where the inventory is shrinking, growth is soon to be

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-26972724100396885302009-07-16T11:12:00.001-07:002009-07-16T11:12:46.504-07:00

The month of June seems to have been a good month for many areas of the country, and set a record for the number of homes sold in that month for Buffalo NY.  The area sold 1,169 homes last month which was the highest amount sold in June in the past 15 years.  The number also represents a 29% increase from May.  Prices were steady and the growth is attributed, as usual, to the $

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-35894786561671896172009-07-15T08:59:00.001-07:002009-07-15T08:59:09.322-07:00

Inventories are down and home sales are up in Lubbock, TX.  Year to date prices have gone up by 11% versus 2008, and monthly June sales have increased by 2% with prices up 5% versus 2008.  Local officials are optimistic that such numbers will soon spawn a revitalization of the construction sector.  With inventory declining and prices rising, it should only be a matter of time.&#160

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-13981806338310173652009-07-15T05:49:00.000-07:002009-07-15T08:49:24.709-07:00

Thankfully we are starting to see some reports of housing turning around lately.  This one comes from Cape Girardeau County, Missouri where only 3 less homes closed last month than the same period in 2008.  Especially noteworthy is the fact that the average home price was UP.  The average year to date numbers are still down versus last year, but only by a small amount.  Read

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-43590005493578651312009-07-14T13:50:00.001-07:002009-07-14T13:50:36.161-07:00

Richard Slawson, the Executive-Secretary of the Los Angeles & Orange Counties Building and Construction Trades Council (whew!) had a word or two for the officials in government.  He makes a strong argument that nothing will get fixed in the current economy unless people are working.  Start public works projects, open barriers to new developments, and funnel the money to the right

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-22452860147254422922009-07-14T05:27:00.001-07:002009-07-14T05:27:42.953-07:00

A little positive news this morning from the Des Moines Register, where home sales appear to be evening out.  Year over year figures are basically steady while prices have dropped slightly.  The good news is that realtors are starting to report that more buyers are coming forward, a good sign indeed.

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-65239778302632481362009-07-14T05:16:00.001-07:002009-07-14T05:17:14.765-07:00

In the midst of all the slumping housing markets across the country, apparently there is one market that doesn’t need the business. According to this article from the Washington Post, Montgomery County, MD has halted construction permits due to projected overcrowding of schools. They plan to raise taxes to help pay for the community improvements. Shouldn’t this already be factored in to the

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-64514163445090906472009-07-13T10:33:00.001-07:002009-07-14T05:19:48.058-07:00

There are a lot of critics to the stimulus package of late, including these articles from the New York Times and San Francisco Chronicle. Of course only a small part of the stimulus package has been spent. By the end of the year, only 25% of the $787 billion will be paid out. So it is a little early to criticize. Not only that but the economy is a BIG ship and it takes time to get it pointed

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-10663322649548485002009-07-13T06:02:00.001-07:002009-07-14T05:17:30.526-07:00

Utah has been one of the harder hit states by the housing collapse falling 61 perfect since 2005. However, the new federal incentive programs for home buyers seem to be slowing down the negative slide from the past 4 years. It is too early to tell if the rebound will be sharp or slow and steady but the main bottleneck seems to remain bank financing for new projects. It all comes down to the

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-27927473927959193362009-07-13T05:52:00.001-07:002009-07-14T05:19:56.011-07:00

According to a new report from the American Institute of Architects, the commercial contruction market is expected to fall by as much as 20-30% this year and 13-17% next year . Chief Guessmaker Kermit Baker says that for new offices and retail space you must first have jobs and consumer spending. You can read more of the gloomy story at Bloomberg.com.

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0tag:blogger.com,1999:blog-8886554154188821672.post-29617968745201378292009-07-12T07:45:00.001-07:002009-07-14T05:20:07.421-07:00

Beginning May 1st a new regulation was enacted to try to put a buffer on often inflated appraisal reports. You may know that the appraisal is what the banks use to value a home prior to committing to a loan for the property. Most appraisals are honest fair valuations based on similar homes in the area. But appraisers have some leeway in the numbers and unscrupulous ones may even give the bank

Brandon Taylorhttp://www.blogger.com/profile/03860210565407904213noreply@blogger.com0