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New Home Sales Climb to Highest Level Since October 2007

Posted by on Aug 23, 2016 in News

New Home Sales Climb to Highest Level Since October 2007 Filed in Economics, Home Building by NAHB Now on August 23, 2016 • The Frenchmen C is a new model from NAHB 20 Club member Larry Kornman of Sunrise Homes. This Pearl River, La. model features a popular open floor plan with plenty of private spaces, too. Sales of newly built, single-family homes rose 12.4% in July from a downwardly revised June reading to a seasonally adjusted annual rate of 654,000 units, according to newly released data from HUD and the Census Bureau. This is the highest reading in almost nine years. “This rise in new home sales is consistent with our builders’ reports that market conditions have been improving,” said NAHB Chairman Ed Brady. “As existing home inventory remains flat, we should see more consumers turning to new construction.” “July’s positive report shows there is a need for new single-family homes, buoyed by increased household formation, job gains and attractive mortgage rates,” said NAHB Chief Economist Robert Dietz. “This uptick in demand should translate into increased housing production throughout 2016 and into next year.” The inventory of new homes for sale was 233,000 in July, which is a 4.3-month supply at the current sales pace. The median sales price of new houses sold was $294,600. Regionally, new home sales rose by 40% in the Northeast, 18.1% in the South, and 1.2% in the Midwest. Sales remained unchanged in the...

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BuilderBooks Launches Web-Based Estimating Program

Posted by on Aug 23, 2016 in News

BuilderBooks Launches Web-Based Estimating Program Filed in Business Management, Home Building, Remodelers by NAHB Now on August 22, 2016 • A new BuilderBooks partnership with ProEst is designed to offer NAHB members a powerful estimating tool for contractors in all specialties, allowing quicker responses to customer bid requests and accurate calculations of the cost of any size project. The online tool automatically generates professional sales proposals, and users can quickly select items from the included residential materials database and easily add markups to ensure an accurate estimate. ProEst also provides the flexibility to perform takeoffs 50% faster than paper plans. And a residential contractor database includes more than 10,000 items and hundreds of assemblies. ProEst is also compatible with mainstream project management, scheduling and accounting solutions including QuickBooks and Microsoft Project. It is 100% web-based with no setup required. NAHB members can also take advantage of monthly training opportunities and unlimited telephone support and software updates. The NAHB members-only price is $995. Learn more at...

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Builder Confidence Rises in August

Posted by on Aug 16, 2016 in News

Builder Confidence Rises in August By Robert Dietz on August 15, 2016 • (0) Builder confidence in the market for newly constructed single-family homes in August rose two points to 60 from a downwardly revised reading of 58 in July on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Builder confidence remains solid in the aftermath of weak GDP reports that were offset by positive job growth in July. Historically low mortgage rates, increased household formations and a firming labor market will help keep housing on an upward path during the rest of the year. Derived from a monthly survey that NAHB has been conducting for 30 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor. Two of the three HMI components posted gains in August. The component gauging current sales conditions rose two points to 65, while the index charting sales expectations in the next six months increased one point to 67.  The component measuring buyer traffic fell one point to 44. Looking at the three-month moving averages for regional HMI scores, the South registered a two-point uptick to 63, the Northeast rose two points to 41 while the West was unchanged at 69. The Midwest dropped two points to...

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