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HomeRun Homes is a centralized marketplace which helps people Find or Sell a Rent to Own Home, both Nationwide and Globally to the thriving Rent to Own Market. http://www.lease2buy.com
Showing posts with label remodeling. Show all posts
Showing posts with label remodeling. Show all posts

June 19, 2011

What Happened To Residential Construction In Our Country?

Hi Folks,

   Welcome back !

   As you may be aware, late last week the May 2011 figures for New Residential Construction were released, and we'd like to take a look at these figures today, which are broken down into 3 components; Building Permits, Housing Starts, and Housing Completions.

   Building Permits for privately-owned housing units were up 8.7% from April, and 5.2% above May 2010, while Single-family authorizations were 2.5% above April. Housing Starts for privately-owned housing was up 3.5% from April, but down 3.4% from May 2010, with single-family housing starts 3.7% above April. The last piece of the equation was Housing Completions, with Privately-owned Up 0.4% from April, but down 22.5% from May 2010.

   "Perhaps my type of perspective on these numbers is interesting", says Bo Hammond, VP of Sales for the Coastal Lumber Company, which supplies raw material for housing attributes, mouldings, flooring, and cabinetry, and advises that his perspective is from a "practical sense".

   Hammond says that we are, "overbuilt from a residential construction standpoint, and the allure of home ownership has faded for those wage earners who historically would have been buying their first house and starting families." He continues to say that the affect on jobs of the recent recession has, "fundamentally changed the perspective of the emerging generation that are getting out of school and deciding to live at home, rent, get married, etc."

   Hammond says that uncertainty in jobs, home values, and financial security has essentially "tabled a normal progression that would encourage behavior that would have building permits and residential construction increasing.", but says, "In lieu of this, remodeling and multi-family construction have been the larger positive influences, but those combined are volatile and don't have the ability to impact GDP like healthy residential construction had 5-7 years ago."

   "I would just reinforce that the market for new homes is extremely competitive right now. This is a great time to buy due to the affordability of homes and interest rates.", says Michael F. Dillon, Jr., Executive Director of the Builders Association of Northern Nevada, who also reminds us that, "Homeowners will still receive a great tax incentive to buy a home and build equity."

   What do you think of the recent numbers? What would you attribute the huge dip on Building completions from just one year ago? We'd love to hear your take on things.

Have a Great Week, and Happy Rent-to-Owning !
Rob Eisenstein
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com

TAGS: #residentialconstruction #remodeling #taxincentive

March 18, 2011

Home Remodeling Forges Ahead Despite The Slow Economy

Good Morning,
   Thanks for being an integral part of another week here...we truly appreciate it.

   Today, we are glad to present an incredibly informative guest-post from BuildFax, the nation’s leading provider of building permit data, provided to us by Joe Emison from Buildfax. The remainder of this Blog Post comes from Buildfax:

   "One might think that this winter’s wild weather may have put the brakes on the remodeling industry, but as Americans look more and more to remodeling their house, rather than buy a new one, remodeling has continued to show some impressive gains.

   According to the BuildFax Remodeling Index (BFRI), the most detailed remodeling index available, January 2011 was the 15th straight month of year-over-year gains for remodeling activity, a very positive sign for the industry, especially as the economy is still in a very slow recovery.

   Looking at consumer behavior, it is apparent that Americans are investing in their homes again, even if they are not seeing gains in equity. The BFRI for January rose 22% year-over-year to 99.0, the highest January number in the history of the index, which starts in 2004. Residential remodels in January were down month-over-month 4.8 points (5%) from the December value of 103.8, and up year-over-year 17.6 points from the January 2010 value of 81.4.

   All regions posted year-over-year gains, although the Northeast continues to lag behind the other regions. For the first time in four years, the Northeast posted a year-over-year gain in January. The other regions all did significantly better than the Northeast, posting double-digit percentage gains over their respective January 2010 values. As is usual in January, index values were down month-over-month in every region: the Northeast was down 6.9 points (9%), the South was down 4.3 points (5%), the Midwest was down 9.6 points (10%), and the West was down 3.8 points (4%).

   As the spring arrives, we hope to see this positive year-over-year trend continue, as remodeling activity continues on the upswing and the industry trends upwards. To follow the trends, be sure to look at BuildFax.com each month for the latest BFRI numbers and analysis and you can also follow BuildFax on Facebook."

Joe Emison

   Thanks to Joe and Buildfax for this valuable information !!!

Have a Great Weekend, and Happy Rent-to-Owning !
Rob Eisenstein
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com