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Tag: homebuilding

Has the New Home Premium to Existing Homes Gotten Too Wide?

October 05, 2018 by Zelman & Associates

Of late, there is an argument surfacing that new home pricing has become too expensive relative to the existing home alternative. It goes something like this: the median new home price reported by the Census Bureau over the last four quarters ...

Aging Housing Stock and Land Availability Segments Country in Housing Needs

March 09, 2018 by Zelman & Associates

As of 2017, we estimate that there were approximately 124 million households spread across the country, represented by single-family homes (68%), 5-plus unit multi-family buildings (18%), duplexes to quadplexes (8%) and manufactured housing ...

Are Buffett, Japanese Companies the Catalysts to Unlock Innovation in Construction?

September 22, 2017 by Zelman & Associates

Earlier this month, we discussed how labor constraints have resulted in construction cycle times becoming extended to the second longest level among expansion periods dating back to 1990, trailing only 2005 when industry ...

Given Tight Labor Market, Homebuilder Construction Cycles Extend Beyond Norms

September 08, 2017 by Zelman & Associates

As previously detailed, labor availability ranks among the biggest challenges for production builders in the current market, remarkably even with land availability, which is traditionally the most-cited hurdle ...

Fed Senior Loan Officer Survey Does Not Tell Entire Story on AD&C Lending

August 11, 2017 by Zelman & Associates

Last week, the Federal Reserve published its latest Senior Loan Officer Opinion Survey with the goal to “provide qualitative and limited quantitative information on credit availability and demand.” As it relates to residential real estate capital ...

Are New Home Prices Rising Too Quickly?

May 19, 2017 by Zelman & Associates

According to our monthly private homebuilding survey that canvasses approximately 15% of the national production market, new orders increased 14% year over year in April, the lowest rate of growth since October and below the ...

Lumber Inflation Surrounding Canadian Tariff Just Another Pressure on Builder Costs

May 05, 2017 by Zelman & Associates

In late April, the Department of Commerce announced countervailing duties, or a tariff, on imported softwood lumber from Canada, ranging from 3-24% for the largest producers and 20% for all other mills. The tariffs were largely expected by ...

Urban Sprawl Picking Up Steam Even Beyond Starter Homes

April 21, 2017 by Zelman & Associates

Beginning in 1Q15, we began tracking new home for-sale inventory across more than 20 production homebuilders, including the square footage offered as a way to better gauge investments and the willingness to cater to the under-served ...

Homebuilder M&A Gaining Steam with Foreign Companies Joining the Fray

March 10, 2017 by Zelman & Associates

Over the last year, several Asian companies have gone on a buying spree of private U.S. homebuilders, including leading Japanese builder Sekisui House’s recent purchase of Woodside Homes. The Woodside deal, valued at $468 million or roughly ...

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homebuilding

Finally, Excess Mortgage Distress is Gone

November 18, 2016 by Zelman & Associates

According to the Mortgage Bankers Association, from 1980 through 2005, the combination of single-family mortgage delinquencies and foreclosures in process ranged from 5.0-6.6% with the most problematic periods being 1982-86 (6.4%) and 2000-02 ...