Register Real Estate Advisors

The National Association of Home Builders (NAHB) took a National Survey in May 2011 that showed that Americans look beyond the immediate housing market and see the lasting value of homeownership.  The survey found the following:

• 80% of homeowners polled would advise a close friend or family member to buy a home.
• 73% of non-homeowners polled said they have a goal to buy one.
• 74% of all respondents said owning a home is as important as being successful at their job or being able to pay for a family member’s education.
• 75% of all respondents said owning a home is still the best long-term investment that can be made.

Ever wonder what the new home trends are going to be?  Well, the National Association of Home Builders (NAHB) surveyed builders earlier this year and learned that 9-foot ceilings on the first floor were one of builders’ top ten priorities.  The research conducted found that whole-house efficiency is important to consumers and that has meant the death of the two-story family room atrium.  Open floorplans are still desirable and builders are adding larger laundry rooms and additional mud rooms which are helping to bring much-desired order to life at home.  For energy efficiency, consumers want low-e windows, programmable thermostats, and energy-efficient appliances.  Walk in closets are still in demand as well as seperate tub and showers in the master suite.  However, you won’t be seeing many outdoor kitchens or fireplaces, sunrooms, butler’s pantry, or media rooms. 

This information was extracted and paraphrased from the Buyer’s Rep – A publication of the Real Estate Buyer’s Agent Council, Inc. which is part of the National Association of Realtors. 

WASHINGTON, D.C. (Nation’s Building News) – Lofty lumber prices continue to concern builders, but economists with the National Association of Home Builders (NAHB) say relief could be just weeks away.

The weekly Random Lengths composite index for framing softwood prices has exceeded $300 per 1,000 board feet since the beginning of February. The last time that price level was reached was the first week of July 2008 and the preceding June.

For the week ending April 2, the index hit $328, its highest point since the end of May 2006, when single-family starts were around 1.5 million units.

“It is not unusual to see lumber prices move upwards in the first quarter of a year as construction comes out of the winter doldrums and begins to ramp up for the spring building season,” said NAHB Senior Economist Bernard Markstein. “However, a rapid increase in prices of this order when the residential construction activity remains near historically low levels is unusual.”

Markstein cited a number of factors that have led to today’s high prices, but he said that timber operations are ramping up to meet rising demand, a process that could take six to eight weeks.

“Builders may have to wait until June before they see some relief from current high lumber prices,” he said.

WASHINGTON (National Association of Home Builders) – Twenty-six percent of home builders have seen lost sales as appraisals come in significantly below the contract sales price, according to a study conducted by the National Association of Home Builders (NAHB).

“Home builders are increasingly concerned that inappropriate appraisal practices are needlessly driving down home values. This, in turn, is slowing new home sales, causing more workers to lose their jobs and putting a drag on the economic recovery,” said Joe Robson, NAHB chairman.

According to Robson, construction of 100 single-family homes generates 324 local jobs, $21.1 million in local income and $2.2 million in taxes and other revenue for local governments in the first year.

Of the builders surveyed, 60 percent claim that inadequate appraisals are creating major problems in the market. Fifty-four percent of those reporting appraisal problems saw appraisal amounts less than the cost to build.

Robson blames the surge of faulty appraisals partly on foreclosure and distressed sales.

WASHINGTON (Realtor.org) – A $15,000 homebuyer tax credit could be enough to encourage more people to purchase homes, according to a nationwide poll conducted by the National Association of Home Builders (NAHB).

The poll shows that a third of all 1,200 respondents and 61 percent of renters would be more likely to purchase a home if the tax incentive becomes law. The tax credit was included in the stimulus package passed by the Senate this week.

“This is extremely significant because normally in any one year only about 5 to 7 percent of households purchase a home,” said NAHB Chief Economist David Crowe.