Building Market Intelligence

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Home Building Less than Half of What It Used to Be

by Erik Franks September 24, 2019

14 years ago, construction in the top 10 markets totaled 394,000 single-family homes. Today, those markets are building 54% fewer homes! Note the huge difference in recovery. While Houston (#3 in 2005) and Dallas (#5 in 2005) have largely recovered, …

88% Difference in Price Appreciation Explained by Supply and Demand

by Erik Franks December 17, 2015

Consider these trends: Frothy markets: In 9 markets, home prices have risen faster than can be explained by falling mortgage rates and rising incomes. Beat-up markets: In 2 markets, income growth has outstripped home price appreciation despite receiving a 44% …

Owning Costs More than Renting

by Erik Franks August 28, 2015

In most areas of the country, homeownership costs more than renting. Many economists with calculators claim the opposite, but the calculations and conclusions are often highly misleading. As is often the case, the devil is in the details. We recently …

New Homes Too Expensive For Most Buyers

by Erik Franks January 28, 2015

New homes failed to gain much market share last year, which can be partially explained by looking at two factors in more depth: 1. A shift in the preferences and demographics of current first-time home buyers 2. The pricing spread …

An Investor-Driven Recovery

by Erik Franks August 21, 2012

Investors are buying homes at a more rapid pace than ever before, and this time their investments actually make sense. Most are buying homes below replacement costs, or at prices that allow for a reasonable rental return. Across the 167 …