Thursday, January 13, 2022

Home Builder Confidence Builds Stronger For Fourth Consecutive Month

 


Homebuilder sentiment was strong at the end of 2021 according to the NAHB/Wells Fargo Housing Market Index (HMI). This is good news for the home building market despite the inflation scares and material shortages. The NAHB/Wells Fargo Housing Market Index (HMI) reported the builder sentiment in the market for newly-built single-family homes moved one point higher to 84 in December.

As for the regions, the three-month moving averages for regional HMI scores rose in all of the four regions. Both the West and South saw an increase to 87, and the Northeast and Midwest both were are 74. The seasonally adjusted rates for the four regions were the highest in the South at 89, in the West 87, in the Northeast 79, and in the Midwest at 74.

“While demand remains strong, finding workers, predicting pricing and dealing with material delays remains a challenge,” said NAHB Chairman Chuck Fowke. “Policymakers need to work on supply chain improvements and controlling costly inflation. Addressing lumber tariffs would be a good place to start.”

“The most pressing issue for the housing sector remains lack of inventory,” said NAHB Chief Economist Robert Dietz. “Building has increased but the industry faces constraints, namely cost/availability of materials, labor and lots. And while 2021 single-family starts are expected to end the year 24% higher than the pre-Covid 2019 level, we expect higher interest rates in 2022 will put a damper on housing affordability.”

Click Here For the Source for the Information.

Wednesday, January 12, 2022

The Last Months of 2021 Saw Single-Family Permit Gains

 


The last months of 2021 saw a great gain in single-family permits in the housing industry. In the first ten months of the year, nationwide single-family permits totaled 948,321. Year-to-date (YTD) this shows a 17.3% increase from October 2020.

Each region had increases in single-family permits issued. The South reported the highest increase of 19.1%, next was the Northeast at 18.5%, the West at 15.6% and the Midwest came in with the smallest increase at 12.4%. Multifamily also saw an increase across all four regions. The West the most at 38.6%, Midwest 30.3%, the South at 23.8% and the Northeast at 15.5%.

At the local level, below are the top 10 metro areas that issued the highest number of single-family permits:

Metropolitan Statistical AreaSingle-family Permits: (Units #YTD, NSA)
Houston-The Woodlands-Sugar Land, TX44,342
Dallas-Fort Worth-Arlington, TX43,012
Phoenix-Mesa-Scottsdale, AZ30,013
Atlanta-Sandy Springs-Roswell, GA27,283
Austin-Round Rock, TX20,895
Tampa-St. Petersburg-Clearwater, FL16,613
Charlotte-Concord-Gastonia, NC-SC16,310
Orlando-Kissimmee-Sanford, FL15,006
Jacksonville, FL13,809
Nashville-Davidson–Murfreesboro–Franklin, TN13,766

 

For multifamily permits, below are the top 10 local areas that issued the highest number of permits:

Metropolitan Statistical AreaSingle-family Permits: (Units #YTD, NSA)
New York-Newark-Jersey City, NY-NJ-PA34,380
Dallas-Fort Worth-Arlington, TX22,782
Austin-Round Rock, TX21,925
 Seattle-Tacoma-Bellvue, WA17,305
Los Angeles-Long Beach-Anheim, CA16,880
Denver-Aurora-Lakewood, CO13,345
Houston-The Woodlands-Sugar Land, TX12,959
Miami-Fort Lauderdale-West Palm Beach, FL12,771
Phoenix-Mesa-Scottsdale, AZ12,671
Minneapolis-St. Paul-Bloomington, MN-WI12,499

Click Here For the Source of the Information.

Tuesday, January 11, 2022

Single-Family Homes Are Increasing in Size


Recent housing data shows that single-family new construction homes are increasing in size. COVID-19 has changed the way homeowners view their home and its square footage. Stay at home orders made homeowners live, work, school and play in their homes 24/7 during the height of the pandemic.

The Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis revealed in the third quarter 2021 report that the square footage went from 2,337 square feet to 2,541 square feet for a median single-family home.

The NAHB Eye on Housing reveals that median home size has is 9.3% higher since the Great Recession lows. The average size for a single-family home is now 6.2% higher on a one-year moving average basis since the recession.

If you are in the market for a new home contact your local Realtor. A local sales professional can help you with your new home.

Click Here For the Source of the Information.

Monday, January 3, 2022

Six Trends To Follow in 2022 When It Comes to Bathroom Designs

 


A bathroom especially the primary bathroom is a homeowner's relaxing space. In fact, the key phrase for bathrooms for 2022 is "calming retreat." Homeowners are looking for a space with mood-setting lights and unclutter spaces and simple tilework to set a tranquil mood. Professionals say there are six trends to follow in 2022 when it comes to designing your tranquil space.

1. Return of the Bath

Many people prefer showers and some prefer baths. Even if you are a shower person, 2022 is looking to bathtubs being the focal point of the primary bathroom. Especially in today's uncertain times, homeowners are looking for ways to decompress and relieve the stress of the day. Bathtubs are a great way to take some time to yourself and relax.

“In past years, deck tubs were taken out to allow for larger showers, but I think adding a tub back into the bathroom will be on the rise in 2022,” says Susan Froehlich, co-owner and design and selections coordinator at Corinthian Fine Homes in Indianapolis. “While shower design was the ‘wow’ of the room in the past, tubs will take a bigger focus, with floor-mounted plumbing and two-toned tubs.”

2. Attention to Light

No one wants fluorescent lighting in the place they get ready in the morning for the day nor in the space, they relax in. Lighting needs to be right and is a priority when it comes to the 2022 bathroom.

“Lighting for bathrooms has definitely evolved beyond your basic overhead light,” says Sara English, lead designer at AMEK Design + Build in Bloomington, Minnesota. “Our designers are appreciating the range of lighting and finishes available to show clients for mirrors, sconces, chandeliers and beyond. It’s fun to remodel bathrooms and use lighting to change the whole feeling of the room.”

“While wall sconces continue to be the most popular lighting choice in 2021, we believe more thought will be given to additional ceiling lighting in 2022. Dependent on the height of the room, we are seeing more great choices for flush-mount or semi-flush lighting options. Various metal finishes will always be here to stay, but an increase in sparkle and glitz is on the rise next year,” Froehlich says.

3. Double Vanities

Today's busy homeowners look to the bathroom as their own space. Having double vanities is a plus but having vanity storage space has become a priority of 2022.

”We believe these ‘his and hers’ vanities will differ in size and function in 2022,” Froehlich says. “More ladies are wanting a makeup vanity and drawers that fit all of their hair appliances, while the men want electric shaving and toothbrush charging built in.”

We are getting into more precise and thoughtful storage for items such as hair dryers, grooming devices, makeup and towels, etc.,” English says. “U-shaped drawers at the top of vanities take advantage of the often unused space around sink plumbing, and in addition, we are adding outlets to closets and drawers for recharging needs.”

4. Calming Retreat

Today everyone is busier than ever coping with everyday life on top of the COVID-19 pandemic. Having a space to escape to and decompress is very important.

“Bathrooms are definitely becoming spa-like retreats,” says Tess Ceron, designer and principal at Belle Decor & Design in Orlando, Florida. “For 2022, designs will be simplified, with muted color palettes and lots of texture and natural elements to instill a sense of tranquillity.”

“With the stresses of everyday life, homeowners are wanting their bathrooms to be their sanctuary,” Froehlich says. “We think it will be a place of calm and relaxation in 2022, with more soaking tubs and calming colors, such as blues and soft greens.”

5. Clean Lines

Professionals are saying that 2022 is all about streamlined fixtures and beautifully clean lines, with larger tiles, fewer grout lines and linear infinity drains.  Designers are seeing more wall-mounted faucets and seamless quartz countertops and backsplashes.

“The simple, clean lines that result give a heightened sense of sophistication without the stuffiness," says Sara English, lead designer at AMEK Design + Build in Bloomington.

6. Luxury Showers

For the homeowners that like a shower over a bath, showers are still a key component in the 2022 bathroom designs. Features that we will now see will be twin shower heads, black instead of chrome hardware, built-in bench seats and larger door openings.

“Roll-in showers and grab bars will be considered the norm,” Froehlich says. “Most of our homeowners ask for a ‘spa-like’ bathroom to relax in and escape the busyness of life. It’s no longer just a space to get ready in the morning or brush your teeth at the end of the day. It’s a place to be enjoyed.”

Click Here For the Source of the Information.