Builder News New Home Sales Rebound By David Crowe | November 25, 2015 • Builder Magazine Census and HUD reported new homes sales for October rebounded from their unexpected low in September to a level of 495,000 on an annual basis. This is a 10.7% increase from the revised September, a 1.6% increase from the third quarter average and a 15.7% increase in year-to-date not seasonally adjusted levels from last year. Regionally, only the West experienced an insignificant decline of 0.9%. Inventory also increased 1.3% to 226,000, the highest level since March 2010. At the current sales pace, the inventory would be sold off in 5.5 months. The increase was particularly strong in homes not yet started now at their highest since late 2008. The addition of inventory continues in the face of builders’ difficulty obtaining lots and labor. The increase in the inventory of not yet started homes is encouraging that builder are finding lots but may be waiting for a buyer before starting the home. The median sales price fell almost 6% as sales in the $200,000 to $300,000 range picked up, which is likely an indication that first time buyers are returning to the market. The sales pace is in line with NAHB’s forecast of 511,000 new home sales for 2015. The improving general economic conditions, rising employment and very affordable mortgage rates make this forecast possible. Profits: The emerging motive for builders and developers to embrace green building By Emily Peiffer | November 20, 2015 • Construction Dive The immense size and scope of the Greenbuild conference in Washington, DC, this week demonstrates the ongoing transition of the green building movement away from the fringes and into mainstream practice. The atmosphere among the more than 20,000 people at the show seemed to include both a sense of accomplishment for reaching this point, as well as a drive to keep growing and making further progress. One of the most notable changes in this year's Greenbuild event was the more pronounced presence of residential construction, from both the single family and multifamily sectors. The National Association of Home Builders ramped up its participation in the event, and the housing section of the exhibit floor saw major expansion. That stronger presence signals the residential industry's shift toward accepting and utilizing more green practices. Although commercial construction has typically led the pack in green adoption, the residential sector is starting to catch up. And the reason for that change is driven not just by a desire to produce environmentally friendly structures, but by consumer demand, higher quality results and lifecycle cost savings. Click here to read more December 2015 | HBRA of Fairfield County | 15
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