Resolution and adaptability are key for builders to deliver a much-needed supply of homes By Michael Berke As builders strive to overcome financing obstacles, the challenging environment is fueling clear shifts in the industry. Financing constraints have created disruption and uncertainty for many who fight to commence their projects. Simultaneously, the desire for homeownership remains strong and supply is short. The effort for builders and developers to fill their capital stack has become burdensome. Those projects that still make sense find their home prices increasing to maintain margins. Many fully…
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2024 Housing Market Outlook
Though things are looking up, it’s not too hot, not too cold, but not quite right either By Mark Fleming The housing market has been on quite the roller coaster ride since the beginning of the pandemic. While it was strong before 2020, the onset of the pandemic and the societal changes it triggered redefined the role of a home. As work-from-home became the new normal, a house was no longer just a dwelling or a vehicle for wealth creation, but also an office, a classroom, a daycare and even…
Read MoreMortgage Rates Will Drop Below 6% This Year, Says Fannie Mae
Fannie Mae, a government-sponsored enterprise that purchases home loans from mortgage lenders, recently released a report predicting that mortgage rates will begin to come down slowly from their current mid-6% range levels. According to Money, Rates have already decreased by more than a percentage point since last October. If Fannie Mae’s current prediction comes true, the rate will have gone down by almost two percentage points from its 2023 high of 7.79% — a change that will have an increasingly significant impact over time for homebuyers and sellers. Fannie Mae’s…
Read MoreRemodeling Market Sentiment Improves in Fourth Quarter
According to the National Association of Home Builders (NAHB), NAHB released its NAHB/Westlake Royal Remodeling Market Index (RMI) for the fourth quarter, posting a reading of 67, increasing two points compared to the previous quarter. The NAHB/Westlake Royal RMI survey asks remodelers to rate five components of the remodeling market as “good,” “fair” or “poor.” Each question is measured on a scale from 0 to 100, where an index number above 50 indicates that a higher share view conditions as good than poor. The Current Conditions Index is an average…
Read MoreHousing Outlook: Inventory May Spike as Fix-And-Flip Wave Hits the Market
Thanks to 24 million homes entering their prime time for renovation, the housing market may see a wave of much needed inventory in the next few years. This presents an opportunity for fix-and-flip investors, according to New Western. According to Business Insider, the real estate brokerage said a shift could be coming in the US housing market next year and could continue through 2027, thanks to a wider market of homes available to real estate investors focused on buying and renovating older homes to put them back on the market. …
Read MoreSurvey Reveals High Interest in Home Remodeling
According to a nationwide survey conducted by Arlington, Texas-based marketing research and analytics firm Decision Analyst, it was found that 78% of American plan to upgrade their homes over the next 12 months. Decision Analyst surveyed about 1,000 consumers about their home improvement plans as part of its ongoing study of consumer trends. “Despite being squeezed by inflation, many consumers see themselves upgrading or adding to the comfort of their homes over the course of the next year,” said Decision Analyst Executive Vice President Felicia Rogers.“People’s homes are important to…
Read MoreLegrand Introduces Dealer Demo Case for Designer Series Decorative Brackets
Every Attention to Detail Has Been Taken to Create a Luxurious and Elegant Dealer Presentation and Customer Buying Experience CARLSBAD, Calif. – Legrand’s Building Control Systems (BCS) division released a new demo case that allows dealers to elegantly showcase the Shading Systems Designer Series Decorative Brackets and matching hembar endcaps to their customers. The outside of the attractive yet durable powder-coated aluminum case is compact for easy portability, while the inside features two removable trays that envelop the wide range of finishes in an easy and effective presentation. This introduction follows the…
Read MoreTips for Effortless Home Remodeling
Thrilling and nerve-wracking, there are many elements to deal with and consider when embarking on a home remodel, especially when looking to make a fast sale. With proper advice and essential tips at your fingertips you can navigate this trial more smoothly than ever. Planning and Prep Establish Your Goals Establish a Realistic Budget Research and Gather Inspiration Create Accurate Timeline Communicate Effectively Be Prepared for the Unexpected Dispose of Any Waste Maintain a Postive Attitude According to NewsWatch, beginning your home remodeling journey doesn’t need to be daunting! By following…
Read MoreHiring An Architect? Questions To Ask First
For the client and the architect to have a better experience, understanding the process of hiring and working with an architect for new home construction or remodeling projects is key, as the process of hiring an architect for a custom home design, or for remodeling rooms and spaces in an existing home, can be rather intimidating. Though all professional services are relative, with vision and training, a space can be transformed into a place that evokes happiness for years to come. According to Acme Brick, “clients don’t need to have everything…
Read MoreA. O. Smith Launches Second Quarterly Contractor Promo
A. O. Smith, a leader in water heating and treatment products, announced its second-quarter promotion for wholesale channel partners and their customers. Each quarter this year, the brand is partnering with wholesalers across the country to offer incentives for contractors who purchase select products. The second quarter promotion kicks off May 15th and runs through June 30th. During this time, contractors who purchase an A. O. Smith ProLine® or ProLine® Master tank water heater at a participating wholesale counter location will receive a credit toward tools. Contractors will receive one credit for…
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