Building Market Intelligence

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The Sharers: We Are Tired of “Sharing” Our Parents’ Spare Bedroom!

I am a Sharer. At JBREC, we use the term Sharer to mean someone who was born in the 1980s and who is currently 26–35 today. There are 44 million of us in the US, and I have outlined our defining characteristics below: …

Homeowners Remodeling Rather than Moving

Homeowners are remodeling rather than moving. We know this because “big-ticket” remodeling revenue is surging, while homes for sale as a percentage of occupied households has hit an all-time low. Home builders and resale agents voice frustrations, while remodeling contractors …

Starter Home Solutions in Expensive Markets

High land prices in good locations generally force builders to build expensive homes. However, a number of builders have figured out how to build and sell entry-level homes to a growing demographic group. Builders are capitalizing on the rising number …

Mid-Atlantic Home Builder Report on Summer Challenges

It appears that summer doldrums fell upon 68 residential home building executives, developers, and private equity investors who responded to our quarterly Sentiment Survey in the second quarter of 2016. Survey respondents, dominated by industry experts from Virginia and Maryland, …

Labor Force Shortage Ahead

A surge in retirees (people turning 65) will slow the growth of workers in the US. In 2000, 2 million people turned 65; 3.5 million did in 2016; and 4.0 million will in 2021. Even with a higher than usual rate of retiree-aged …

A Cloudy Start to 2016 in Southwest Florida

Southwest Florida had a banner year in 2015 for new home sales, with Naples recording an 18.4% increase in volume YOY and Fort Myers notching a 10.1% increase. Builders in Florida’s retirement housing hot spots count on the early months …

Local Governments Dictate Housing Growth

New home construction has been growing slowly and unevenly across the country, partially due to increasing difficulty getting projects approved and financially viable. CNBC just did a 3-minute feature on what I consider to be the poster child for difficult …

Finished Lot Values Well above Their Long-Term Intrinsic Value

In 2013, finished lot values (shown in navy blue below) spiked back to mid-2005 values. Since then they have climbed modestly. Today’s low mortgage rates support the high lot values, but lots are 26% overpriced if rates were to rise back to …

Second-Home Destinations Becoming Retirement Hot Spots

In the mid-2000s, the American Dream extended beyond a house and yard to a second home with access to a golf course, clubhouse, and resort pool. New master-planned communities in weekend destinations as diverse as central Oregon, the Texas Hill …

Building for the Buyer: A New Perspective for the Housing Market

I recently hosted a panel of three distinguished builders from Florida to discuss the changing demographics of the state and how each builder is targeting the different generations. Below are the primary conclusions based on new generational definitions by decade …