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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 singlefamily 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,
higherq uality results and lifecycle cost savings.
Click here to read more
December 2015 | HBRA of Fairfield County | 15
