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Tag Archives: Steve Stinson
Demand: Alabama’s new home sales in January slipped 2 units or .9 percent from the same period last year.
Supply: Housing starts have increased 13.0 percent since last January. New construction inventory has also increased 4.0 percent since January 2014.Three of five metro areas experienced increases in inventory levels from last January (Birmingham – up 10%, Mobile – up 7% and Tuscaloosa – up 6%).
Alabama’s metro markets in January reflect 8.4 months of new home supply, up 6 percent from last January’s 8.0 months and up 83 percent from 4.6 months in December.
Pricing: Alabama’s metro market’s median new home sales price in January was $235,510, an increase of 2.1 percent from last January and 5.6 percent from last month.
New Home Pipeline: January statewide housing starts increased by 13.0 percent from January 2014 but slipped 2.0 percent from the prior month. 2014 starts were down 2.0 percent. Housing starts were up 7.8 percent in 2013 and 6.5% in 2012. January statewide building permits were up .5 percent from January 2014 but down 5.6 percent from last month. 2014 permits were down .8 percent. Building permits were up 5.6% in 2013 and 8.4 percent in 2012.
Residential Construction Employment: According to the Alabama Dept. of Industrial Relations, statewide residential construction employment in December increased 1.2 percent (800 jobs) to 68,600 from last month and improved 9.2 percent (+5,800 jobs) from the same month a year ago. (Note: January figures are to be released on 3/17/15).
Local Results: 10 out of the 27 home builder associations (37% – down from 56% in Dec) reported gains in building permits from the prior month while 12 associations (44% – up from 33% in Dec) reported gains in housing starts from last month. Twenty associations (74% – up from 33% in Dec) experienced an increase from their January 2013 housing starts.
Industry Perspective: From David Crowe, NAHB chief economist: “The new year either will see the housing sector break out in a traditional, solid recovery or it will see another mundane nudge forward. It doesn’t take a Ph.D. in economics to know that. Unfortunately, any economist with two hands can list forces for both outcomes. But the scale is heavily tipped toward more growth in single-family construction in 2015 than any of the recovery years to date.”
View the current monthly Alabama Residential Report here.
The ACRE New Construction Monthly Report is work product stemming from our partnership with the Home Builder’s Association of Alabama Foundation.
About ACRE. ACRE was founded in 1996 by the Alabama Real Estate Commission, the Alabama Association of REALTORS and the Office of the Dean, UA Culverhouse College of Commerce. ACRE is not a state-funded entity, rather its operates in part because of the goodwill & generosity of our ACRE Corporate Cabinet and other statewide ACRE Partners.
Incredible family home on a quiet cul-de-sac in Madison’s most desirable school district. Extensive attention to detail with heavy crown, trey ceilings, lots of wood and tons of natural light. The recently updated kitchen features granite, stainless and a gas cook top with double oven. Formal living and dining rooms. A fifth bedroom or study on the main level. Privacy abounds in the huge fenced back yard with large evergreen trees and stately hardwoods. HOA pools, tennis, trails, club house and stocked ponds.
The Internet is awash with short and incomplete lists of tips for homebuyers. For the many Americans unfamiliar with the home-buying process, trying to determine which tips to focus on could be confusing. Upon reading these lists, aspiring homebuyers must ask themselves, “Are these tips that industry experts would actually recommend, and are they worth spending my valuable time on?”
To remedy this problem, Market Leader gathered tips for homebuyers from half a dozen sources, put them all on one giant list, and, after removing the trivial and contradictory ones, surveyed almost 400 real estate agents about the importance of each tip. For the 17 tips featured in this survey, participants indicated whether they found them to be very, moderately or slightly important for homebuyers – or not recommendable at all!
Enjoy carefree living with direct access to Indian Creek Greenway, literally minutes from work/dining/shopping, resort pool, lakes and a park. Better than new, this gorgeous Harrison plan by Mark Harris features beautiful hand scraped hardwood floors, isolated master suite on the main floor, open floor plan, granite countertops and custom cabinets in the gourmet kitchen and a huge loft with two additional bedrooms up. A large covered veranda and a privacy fenced back yard provide a great space for outdoor events. 6437 Lincoln Park Place