In The News
Respected business news and trade media outlets turn to our team for clarification on important and timely issues. John Burns regularly appears on national TV and major media discussing current housing industry topics, and many of our leaders are featured regularly in publications such as The Wall Street Journal, Bloomberg Businessweek, CNN, and USA Today. Below are some of the most recent and notable headlines.
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Notable John Burns Real Estate Consulting Mentions
Amid the biggest housing boom in years, home builders are worried they are running out of land.
Katerina Krumwiede wasn’t looking to move. She and her husband, Rob, recently spent “well over” $100,000 on a complete remodel of their Encino house that added a backyard gazebo, custom kitchen countertops, new roof and imported bathroom tiles from Spain.
Last week the National Kitchen & Bath Association (NKBA) and John Burns Real Estate Consulting (JBREC) released their third-quarter 2020 Kitchen & Bath Market Index (KBMI.) For the first time this year, the KBMI is above 50, at 61.9; up from 44.2 in Q2 and 41 in Q1.
Douglas Gilman put a new designer kitchen in his Manhattan apartment last year with entertaining in mind. He placed the sleek marble-accented Dada kitchen, from Italy’s Molteni&C, at the center of the airy 2,800-square-foot home that he created from combining two adjacent units in a former West Village printing house. He figured it would give him easier access to his guests.
Big companies that own single-family homes are raising rents at the fastest rate since they emerged from last decade’s foreclosure crisis, capitalizing on a rush for suburban housing.
The nation’s homebuilders are seeing no fall chill in demand from buyers, and that has the industry more confident than ever. Builder sentiment set a record high for the second month in a row, jumping to 85 in October on the NAHB/Wells Fargo Housing Market Index.
The U.S. housing market, which has been a bright spot in the pandemic-battered economy, is running out of fuel. With buyers eager to take advantage of low mortgage rates, the inventory of homes to buy is scarce.
Homebuyer demand is finally heating up. According to the Mortgage Bankers Association, total mortgage application volume rose last week from the previous week as more buyers rushed to buy new homes with states gradually lifting restrictions.
Following yesterday’s intraday reversal in the Nasdaq Composite Index that led U.S. equities to retreat, equities in Asia finished trading today on a lower note with Hong Kong’s Hang Seng falling 1.1%, Japan’s Nikkei down 0.9% and China’s Shanghai Composite off 0.8%.
Sales of newly built homes jumped a whopping 55% in May according to a monthly survey by John Burns Real Estate Consulting. This is the highest gain since homebuilding bounced back after an epic crash a decade ago.
As technology grows more integrated into daily life, homebuyers expect new homes to become smarter. That’s why new home builders have recently placed a strong emphasis on integrating smart devices directly into new builds.
Cases continued to hit record levels across the U.S. over the weekend as a number of hot-spot states continue to see Covid-19 deaths gradually rise, according to data compiled by Johns Hopkins University.
Homebuilders just saw the strongest June sales since the last housing boom, as pandemic pushes more buyers to the suburbs
It is the perfect storm for the nation’s homebuilders. A sharp decline in the supply of existing homes for sale, increasing consumer preference for brand-new, high-tech homes with all the amenities for working and schooling, as well as an accelerating flight to the suburbs and exurbs made for remarkable housing demand in June.
Freddie O’Connell remembers when Nashville’s Lower Broadway wasn’t a strip of country music bars frequented by bachelorette parties and tourists for its Instagram-worthy backdrops. The city council member for District 19, who represents the city’s burgeoning downtown, remembers decades ago, when there was a seedy Times Square feel, when adult bookstores lined what’s now honky-tonk highway.
Sales of newly built homes surged in May, a new survey shows, the latest sign that the housing market is already recovering from a sharp drop in home sales due to the pandemic. New home sales rose 21% in May from a year earlier, and the average sales rate per community rose 24% year-over-year, according to a survey of more than 300 U.S. builders conducted by John Burns Real Estate Consulting LLC.
As mortgage applications, price appreciation and slowly growing new listings indicate that the national real estate industry is finally mending from the coronavirus, some housing markets are charting faster and stronger recoveries than others.
Homebuilders’ rather bleak sentiment about the state of their industry last month seems to be now slowly reverting as states lift stay-at-home orders and home shoppers return to the market. According to the latest National Association of Home Builders/Wells Fargo Housing Market Index, released on Monday, builders’ sentiment gained seven points in May, rising to 37 points.
While economic slumps typically depress home buying and owning, the current coronavirus-triggered slowdown could buck conventional wisdom and lead to an increase in the U.S. homeownership rate. Prior to the onset of the COVID-19 outbreak, which largely shuttered the economy in mid-March, the homeownership rate stood at 65.3% for the first quarter of 2020, marking a 1.1% increase from a year ago.
The Q1 2020 NKBA/John Burns Kitchen & Bath Market Index (KBMI) is out, and it is not light reading—in length or in content. Though some states are beginning to reopen, the quarterly report forecasts a bleak future for kitchen and bath in the coming months.
All the museums and restaurants of cities are moot points when they’re shut down and residents are shut in. Throw in a heightened awareness of population density and germs, and that’s why some housing professionals believe that the suburbs will be a hot commodity post-pandemic.
According to statistics from John Burns Real Estate Consulting (JBRC), a firm that tracks data points from hundreds of builders in the U.S., the number of new homes sold per week declined approximately 85% between the first week of March and the first week of April.
As the calendar turns to May, we’re likely to see a slow return of growth for some types of economic activity that were wiped out by the coronavirus shutdowns in March and April. That’s the good news.
Jim and Wanda Dill had lived in a golf-course community in Naples, Fla., for 14 years when they decided to move nearby to a different master-planned community, where the main draw is water.
U.S. Single-Family Rental Home Market Poised for Near-Term Real Estate Growth Opportunities, According to SVN | SFRhub Advisors
As the world grapples to tame the coronavirus pandemic and overturn the economic effects of this unprecedented event, commercial real estate (CRE) investors are monitoring all asset class financial positions to lessen short-term portfolio risk while augmenting investments for long-term growth.
Colin Jordan, a 32-year-old software salesman, lists various predictable reasons for his move to Scottsdale from the San Francisco Bay Area. He likes sun and golf and lower income taxes. But beneath all that is something bigger, which is the feeling that Arizona has welcomed him in ways that California — where he grew up — did not.
What will the new year bring for the housing market and real estate investors? Who will be buying and who will be renting? What changes will we see for single-family rentals and the build-to-rent market? What can investors expect from the economy in the coming year?
Do you track the home improvement industry? If you do, but didn’t make it to the Home Improvement Research Institute’s HIRI Summit last month, you can still benefit from the top takeaways shared by thought leaders presenting there.
It’s an all-too-familiar problem. Seeking an apartment, a renter spots an available unit in an online search.
The Southern California median home price barely budged in May, a sign that the housing market remains soft despite a sustained drop in borrowing costs.
During the foreclosure crisis nearly a decade ago, investors plowed into the housing market, buying millions of distressed homes and turning some of them into lucrative rentals.
In the early 2000s, retirees were flocking to America’s sunbelt to build their dream homes.
Maiya Jones didn’t have money saved up for a down payment when she started looking for a house in the St. Louis area last summer.
The first time Mary Hickey, 53, and her husband, Joe, 59, looked at a home in Sun City Peachtree, a development in Griffin, Ga., in early 2016, they didn’t realize it was an age-restricted community.
The sluggish Southern California housing market showed signs of perking up in April, as prices ticked up one month after they fell for the first time since 2012.
Private outdoor space is high on wish lists of many home buyers. That includes families seeking urban living and empty-nesters shedding suburban existence for city condominium developments.
Buyers in the tightest U.S. housing markets finally got what they’ve been looking for: inventory. But instead of sales surging as a result, they’re sinking.
According to The San Diego Union-Tribune, recent data from CoreLogic shows a drop in home prices in San Diego for February, which marks ten months of declines in a row.
The Washington-area housing market had another solid year in 2018, neither overheating nor free-falling, but instead drifting placidly along.
The National Kitchen and Bath Association has partnered with John Burns Real Estate Consulting to create a new survey-based market index for the kitchen & bath industry.
Large, high-end homes across the Sunbelt are sitting on the market, enduring deep price cuts to sell.
A decline in residential real estate has led several recessions. With construction still in a multiyear slump, it seems unlikely to be the culprit this year.
In a surprising twist, the state of housing demand is suddenly strong again – but it could be temporary
After ending 2018 in a serious slump, demand for housing is suddenly soaring again, thanks to a drop in mortgage rates that could be temporary.
The housing pain persists in Southern California, as higher costs weigh heavily on potential buyers.
The government shutdown hasn’t completely stopped the flow of stunningly bad housing data.
As the housing market has downshifted, more builders are offering sweeteners to close the deal.
CNBC’s Diana Olick reports on private sector data from John Burns Real Estate Consulting which showed that California had the worst newly home sales numbers.
Out of the top-selling 50 master-planned communities in the nation by 2018 home sales, ten are in Houston or located in the Houston area, according to a new ranking by John Burns Real Estate Consulting.
Widespread adoption of home technology—mostly thanks to companies like Amazon, Apple, and Google—has made connectivity an affordable, expected standard in new-home construction.
Todd Wood sold his commercial-baking business for $120 million and weighed plans to get into real estate — then decided that most existing business models were the equivalent of residential white bread.
Each new housing data point is worse than the last, and they are prompting a leading industry analyst to say the market is in a correction.
Selling your home can be a headache. There’s the real estate agent to find, the open houses to hold, the bids to weigh. And then, at the very end, there’s the wait for something that may not even happen: financing.
When Christopher Cacho is home, the 23-year-old data specialist doesn’t do much out of the ordinary. He may run a computer analysis at his desk, play a video game or lie down with a good book.
The Southern California housing market has been on a nearly seven-year tear, with prices in many communities reaching all-time highs.
Although it’s predicted that the popularity of ride-sharing services and the rise of self-driving vehicles will soon impact the country’s demand for cars, Americans are as dependent as ever on their personal vehicles, and this means they still need a place to park them.
Here’s where all discussion on labor capacity in home building takes a decisive, if not sudden, turn.
The average rate on a 30-year fixed mortgage is nearing 5%, following a surge this week that put borrowing costs at their highest level since 2011, according to Freddie Mac.
When Tom Thoms’s family food distribution company was sold, it was in economic terms, a “liquidity event.” In personal terms, it was a crossroads: The 40-year-old chief executive of the firm suddenly had the money and freedom to retire early.
Lennar Corp. is in advanced talks to sell its real-estate lending unit, looking to offload the business at a time when the nation’s largest home builder and its peers are struggling alongside a stagnant housing market.
Hancock Builders, based in Phoenix, may be on to just what the rent-centric housing market needs – some new twists on rental single-unit family dwellings.
If you want a $23 plate of gluten-free spaghetti vongole at Ballerina—the restaurant at Miami’s Oceana Bal Harbour—you must first spend several million dollars on a condominium.
The average new home in the U.S. went for $324,467 in June, 28 percent more than the $254,200 price for existing homes, according to data from John Burns Real Estate Consulting LLC.
Americans are feeling flush with cash, as reflected by their spending on big-ticket items.
Sales of new homes declined for the second straight month, the latest in a string of economic data pointing to a soft run in the housing market amid an otherwise booming economy.
Homebuyers are trading in their country club memberships for well-trodden trails.
In his 1983 “mockumentary” film Zelig, Woody Allen plays Leonard Zelig who, out of his desire to fit in and be liked, takes on the appearance and characteristics of the personalities around him.
Just over one-third of homes are purchased by millennials, making them the cohort with the most buying activity compared to other generations—a record they’ve held for the past five years, according to the 2018 Home Buyer and Seller Generational Trends study from the National Association of Realtors.
For Diana Limongi, the practical benefits of sharing a two-family house in Astoria with her parents are manifest.
JZMK Partners is pleased to announce that client The New Home Company won two Gold Nugget Awards for its Mountain Shadows community in the Phoenix, AZ suburb of Paradise Valley.
The term “surban” describes a suburban community that offers the conveniences of urban life.
It is a seller’s market, undeniably. The supply of homes for sale is low, demand is high, and now prices are heating up even more.
For many home builders, the 55+ market is new, unchartered territory. According to research from John Burns Real Estate Consulting, 53% of those 55 to 65 years of age cannot find the kind of compelling and vital community they desire, leaving home builders plagued with one daunting question: what’s missing?
California is in the middle of an affordable-housing crisis that cities across the state are struggling to solve.
As common as it is to use generation groups as predictors of buying behavior or other activities, many analysts and industry professionals are critical of the approach for a number of reasons.
Soaring lumber prices, rising mortgage rates and a dearth of skilled workers are a triple threat looming over the housing industry right now.
‘Now we’ll be in the minority here’: Residents of older-adult community feel blindsided amid merger with all-ages neighborhood
Two years ago, when Margie Yates moved into Two Rivers, a planned community in Odenton in Anne Arundel County, she was one of the first residents in the development, which was then restricted to buyers age 55 and older.
While many public builders are mainly focused on millennials and baby boomers, some mid-size local private builders have found their niche in attainable move-up homes.
In the last four years, at least 11 publicly traded home builders have announced new entry-level brands aimed at millennials, and another six have introduced new active-adult home brands geared toward baby boomers.
Today’s homebuyers don’t need another headwind. They’re already facing one of the tightest, most competitive housing markets in history, with home prices rising far faster than incomes, mortgage rates climbing and the supply of homes for sale continuing to shrink.
California is set to become the first state to require solar panels on all newly built single-family houses.
The divide between the rich and the poor has been widening over the past three decades. And this growing chasm is being mirrored in homeownership trends in the U.S.
One of the country’s top master-planned communities is breaking sales records, thanks to its focus on quality-built homes affordable to working-class Californians.
Home prices have been surging in many markets, mortgage rates have been rising, and incomes have plodded along with little growth, and the disconnect is getting bigger and bigger.
The lack of homes for sale has taken its toll on the housing market in Northern Virginia, as it has in other markets.
According to a new analysis by John Burns Real Estate Consulting, any given home in California costs up to $500,000 more to build and sell than an identical home in Texas, owing in part to California’s housing shortages and difficult regulatory environment.
Collectively, Texas, Florida and California account for nearly one-third of all new building permits in the U.S. in 2017.
TRI Pointe Homes, a member of the TRI Pointe Group family of premium regional homebuilders, has named Darren DuPree as President of the home building brand’s Colorado division.
Americans are relocating to retirement hot spots scattered around the country and returning to suburbia, according to Census Bureau figures released Thursday.
California Pacific Homes’ Silverleaf Charms Buyers With Detached Courtyard Designs in Portola Springs®
IRVINE, Calif., March 16, 2018 (GLOBE NEWSWIRE) — California Pacific Homes’ Silverleaf in Irvine’s Portola Springs® Village blends style and function in three beautiful detached courtyard home designs.
John Burns Real Estate Consulting was out Wednesday morning with a rebuttal and a rebuke to the Census Bureau and Department of Housing and Urban Development report earlier this week that new-home sales fell 7.8% in January.
When real estate investors get this confident, money manager James Stack gets nervous.
Some will blame the weather. Others will claim the figures are too volatile month to month. Bottom line, December’s steep drop in single-family housing starts is not indicative of what is really going on at construction sites across the nation.
California Pacific Homes’ Brisa, Celeste and Talise Neighborhoods Selling Now at Irvine’s Portola Springs® Village
IRVINE, Calif., Jan. 16, 2018 (GLOBE NEWSWIRE) — Three exciting, new California Pacific Homes’ neighborhoods are now open with 12 professionally decorated model homes available to tour daily.
While 2017 was a hot year for the housing market, homebuilders face cost challenges that will carry through 2018.
Real estate consultant John Burns was out late Thursday with his annual look at master planned communities. And it reported that Irvine Ranch, The Villages, Lakewood Ranch, and Summerlin all captured over 1,000 net homes sales in 2017.
The rental market is hot. Since the start of the Great Recession, the number of Americans living in rental properties has soared to nearly 37%, the largest amount since 1965.
Millennials, the “foodie generation,” are frequently chastised for squandering their money on avocado toast instead of saving to buy a home. But it turns out the older generation are just as obsessed with food.
Buy to let is now a “huge” investment opportunity in the U.S. as single-family rentals surge, says John Burns, CEO of John Burns Real Estate Consulting.
It’s 2027 (or 2037) and the age of the self-driving car. City-dwellers have traded in their car keys for ride hails.
Nearly 60,000 people experience homelessness on a given night in Los Angeles County, a 23% increase from last year.
Low inventory and high home prices continue to plague the Washington region this fall.
In the San Fernando Valley, there are plans to level a nearly vacant mall and replace it with some 1,400 homes, boutique retail shops and a concert venue.
In its most recent study, Zillow Group examined the newest generation to enter the housing market – Generation Z.
At a black tie gala Friday night, expert panelists gathered to give their predictions of the future of the real estate market.
Orange County’s Irvine Co. said Friday that it plans to bid for Amazon.com’s second headquarters, which Amazon says will employ up to 50,000 people.
A severe shortage of construction workers is expected to cause widespread delays and push labor costs sharply higher as Texas begins to rebuild from Hurricane Harvey.
The U.S. is, slowly but surely, inching closer toward seeing the self-driving car on the road.
Home Depot delivered yet another beat, posting strong sales growth of 6.2%, easily surpassing revenue expectations by $300 million.
The cost of housing is rising at a fast clip, and nowhere is it more apparent than in the market for newly built homes.
Seven-year-old Anaika Datla is in the Half-Pints, and 12-year-old Drew Bradford is in Foodies. Both are students in Willowsford Farm Junior Chefs Academy, which offers cooking classes designed for children.
Why live in a metropolis when you can find urban perks in the suburbs?
Older millennials are realizing they don’t have a good answer to that question anymore. The result: a migration out of the city.
The trendiness and appeal of downtown may still be there for some, but as young adults start to grow older, they’re more tempted to trade in their reverse commutes and crowded shopping centers for a simplified version just outside the city.
According to an NAHB analysis of U.S. Census Bureau data, about 23.2% of the homes built during the 1990s were 3,000 feet or more and that number rose to 28.6% from 2010-2015.
Lorraine Woellert and her editors at Politico have it at least partly right in her piece, “Why Washington Can’t Fix the New Housing Crisis.” By nature Washington is Washington and housing is local.
Burns originally had no desire to go into real estate. Instead, he wanted to build a business in the late 1980s based on fantasy baseball or, as it was then called, “rotisserie” baseball after a restaurant where its founders came up with the idea.
The largest generation is finally starting to buy houses. The trouble is, there aren’t enough houses for sale to feed their appetite, at least not enough they can afford.
Brookfield Residential’s Delano at Eastwood Village Impresses at Grand Opening Event, Model Homes Now Open Daily
The recent debut of Brookfield Residential’s new Delano at Eastwood Village in Irvine was a grand success with an impressive number of guests touring the townhome collection’s professionally decorated model homes.
The future of U.S. homebuilding depends on more people like Cyndicy Yarborough, a 26-year-old former Wal-Mart clerk with no background in construction.
The latest release of detached courtyard homes feature open-concept floorplans with light-filled living spaces, luxurious master suites, modern amenities and two-car garages, plus large, private yards.
A feeling of spring in the air in January and February matched the level of activity in the Northern Virginia housing market during those months.
Desirable New Locations Available at Silverleaf in Portola Springs® Village, Many With Spacious, Private Yards
Desirable new locations are now available at California Pacific Homes’ Silverleaf in Irvine’s Portola Springs® Village, presenting fresh opportunities to own at this popular neighborhood.
Lack of housing inventory continues to be a problem throughout the Washington region, but Prince George’s and Montgomery counties in Maryland have far surpassed other jurisdictions in the area when it comes to price appreciation.
The RV market is on a tear — thanks to retiring baby boomers.
The popularity of multiple master bedrooms in single-family homes has grown at the luxury level, according to Realtor.com.
Homeowners with a hankering for extra elbow room are driving a lucrative market for homes with multiple master bedroom suites.
Perhaps the most surprising thing about the controversial Super Bowl TV advertisement that showed an immigrant family encountering a border wall is that the company behind it denies it was about immigration at all.
Pacific Union International, Inc., a global innovator in bringing real estate technology to the industry, launched today a partnership with Nest Labs, Inc., the architect of the thoughtful home.
Until recently, the mortgage interest deduction was right up there with Social Security as a sacrosanct institution on Capitol Hill, protected by lawmakers on both sides of the aisle.
As Don Huffines sees it, Donald Trump’s election instantly made his Dallas-area pastureland much more valuable.
In Santa Ana, not long ago, on a tired commercial stretch west of downtown, stood a church, a burnt-out motel and something harder to see: one key to alleviating the region’s housing crisis.
At face value the numbers make no sense. A monthly survey of homebuilder confidence in December released Thursday from the National Association of Home Builders spikes to the highest level in 11 years.
Sales of luxury homes in most parts of the U.S. have continued to increase over the last year, according to an analysis of more than 40 high-end counties in 16 states, despite concerns from some analysts about a slowdown.
Home builders say they are fairly upbeat about housing conditions. The stock market suggests otherwise.
The housing market has reached its long-anticipated new milestone: U.S. home prices finally topped record levels for the first time since July 2006, according to the S&P CoreLogic Case-Shiller Index released this week.
Over the past several weeks, I have had the opportunity to attend a variety of fall industry conferences: the Urban Land Institute (ULI) fall meeting in Dallas, a Vistage Construction Network CEO Roundtable in Boston, and John Burns’ Fall Homebuilding Conference in New York.
A sharp spike in interest rates following the election of Donald J. Trump last week threw icy cold water on the mortgage market.
A surprising twist toward the end of 2016 with the election of real estate magnate Donald Trump as president is likely to presage some dramatic changes in 2017 for the housing industry…
Builders often find themselves taking a hit-the-ground-running approach and jumping straight into ideas that they know will work.
Steve Rattner, Willett Advisors’ chairman, says Donald Trump’s policies can transform the U.S. economy.
America’s housing market is heating up again, fortifying the finances of current homeowners and frustrating potential first-time buyers.
Inventory has been a major theme of U.S. housing markets in recent years, as a shortage of homes for sale has pushed prices higher and low vacancy rates have increased rents.
A new Demographic Strategies for Real Estate report points to a shift in the archetypal housing developments we’ve come to know as the norm.
Houston’s economy is cooling down.
September housing starts came in 9 percent below August and 12 percent below September 2015, according to the U.S. Census, but those big drops belie a huge improvement for the market, at least in this monthly read.
Builders sprung back to life after the housing bust by focusing on high-end projects in upscale neighborhoods.
There will be plenty of large-scale reconstruction to do in the wake of Hurricane Matthew, which has been blamed for dozens of deaths since it made its first U.S. landfall Friday and is still causing catastrophic flooding throughout eastern North Carolina.
Houston’s boom is over.
That’s what analysts at BMI Research argued on Tuesday in a research note on Texas’ second-largest metro area.
They’re known for bouncing around jobs, delaying marriage and holing up in their parents’ basements.
About 11 million Floridians are in the path of Hurricane Matthew, which is now expected to come ashore as a deadly Category 4 storm.
Mortgage rates took their biggest leap in two months on Friday, thanks to a sell-off in the U.S. bond market.
The U.S. housing market continues to move ahead, but a generation of homebuyers is being left behind.
Could “smart home” technology — features such as network-connected thermostats, security devices, appliances and lighting — help you sell your home faster and for more?
Could “smart-home” technology — features such as network-connected thermostats, security devices, appliances and lighting — help you sell your property faster and for more?
Spending on home remodeling is expected to hit new highs this year, and according to RBC Capital Markets analyst Bob Wetenhall there’s still time for investors to capitalize on it.
Spending on single-family home construction remains 40% below the levels of a decade ago, but new forecasts project that U.S. investment in residential remodeling and repairs this year will surpass records set during the housing boom.
The push toward urban living is pushing the envelope for real estate developers, forcing them to become more creative with the space they have.
With median home prices in San Francisco hovering near $1 million, developers are looking to the far reaches of the Bay Area and beyond in search of affordable land on which to build.
In today’s “Single Best Chart,” Bloomberg’s Tom Keene displays real existing home prices in the U.S.
Today’s different generations are getting cozier when it comes to sharing living space
Seven and a half years after bottoming out amid the Great Recession, median home prices in Orange County finally surpassed their bubble-era heights last month.
The more than yearlong slump in prices for raw materials used in construction hasn’t been of much benefit for U.S. builders.
The first phase of residential development is underway at Lago Mar, a community being developed by Land Tejas in Texas City. The 2,033 acres reserved for Lago Mar are expected to accommodate 4,400 home sites.
Baby boomers, the largest and wealthiest generation to retire, are changing the face of cities by choosing to retire to urban areas rather than suburbs.
As the Pacific waves crash below, the frames of luxury homes rise above — in what is being called the last seaside development in Southern California.
A custom-built home in the heart of California’s Silicon Valley had its price cut by $500,000 last week after sitting on the market since the end of March — a move that would’ve been almost unfathomable a year ago and a signal that frenzied demand has peaked.
When Conrad Lifsey and his partner, Derek Loftin, who own a luxury RV rental company in Palm Springs, bought a house 2015 in a property development called Sol, what sealed the deal for them wasn’t inside, but up on the roof.
In spring 2014, Joel Shine was ready to cross the finish line. After working for more than a year to take Woodside Homes public, the son of a longtime Los Angeles home builder had the Salt Lake City–based company poised for an IPO.
The average cost for home builders to comply with regulations for new home construction has increased by nearly 30% over the last five years, according to new research from the National Association of Home Builders.
At Paradise at Ironwood Crossing, a 2,100-home master-planned community southeast of Phoenix, new houses starting as low as $170,000 are snapped up within weeks of hitting the market.
The construction industry deserves a closer look.
While America’s housing market is recovering, the construction industry has struggled to catch up.
LOS ANGELES — Robert Leviton’s loudest neighbour is a 12-lane freeway.
The busy stretch of highway that runs alongside his townhouse complex is visible from his north-facing windows.
Connie Durnal has more than two decades of experience as a broker in the Dallas real-estate market. But these days she thinks of her career in two distinct phases: the last two years and “the olden days.”
Home construction weakened in March, and homebuilder sentiment hasn’t budged in three months — all this in the heart of the historically strong spring housing market.
Buying a home no longer offers attractive tax breaks, due to near-record low mortgage rates and an increase in the standard deduction.
It was beginners’ night for pickleball at Sweetgrass, a development in Richmond built for the 55-and-over set, but there were plenty of veteran players on the courts.
Some air may finally escaping from the inflated San Francisco real estate market. Home prices in the San Francisco Bay Area were down 1.8% on a year-over-year basis…
It may be yet another reason why younger Americans are choosing to rent: Buying a home is unlikely to offer them any tax break.
The tax benefits of homeownership, which generations of U.S. residents have counted on, have been elusive for typical buyers since mortgage rates started tumbling in 2008, according to an analysis by John Burns Real Estate Consulting LLC.
Low inventory and competition for homes in popular areas near the city and Metro stations are impacting Northern Virginia this spring along with the rest of the Washington-area market.
The spring real estate market in the Washington region often starts way before residents change their clocks for daylight saving time or see their first crocus poke from the earth. This year is no exception…
Baby boomers are altering the American Dream. After having the home in the suburbs, the kids, the two cars, and maybe even the picket fence, a growing number now want to ride elevators to rental apartments and walk out the door to restaurants.
While January’s blizzard slowed the housing market briefly, buyers dug their way out quickly and got back to the business of touring homes and making offers, particularly in the city.
The stock market is looking wobbly. Bonds are paying you about what you’re losing to inflation. And the rest of the investment landscape is about as reliable as the latest presidential candidate poll.
The widening gap between the middle and upper tiers of home prices is making it harder for people to trade up, tightening inventories and pressuring prices, according to a study set to be released Monday.
Rampant volatility in the U.S. stock market is showing up in the high-end housing market. But as with all things real estate, the impact depends entirely on location.
Metro Denver continues to top the charts for annual home price appreciation among major metro areas, making it one of the most expensive housing markets outside the two coasts.
Armed with data from John Burns Real Estate Consulting that 21 million American households are composed of more than one adult generation under the same roof. Olick highlights three reasons for the large–and growing–multigenerational household composition:
Jennifer Michaels didn’t expect her Seattle-area house would sell so quickly, especially since she hadn’t settled on a new home yet. With nowhere to go, the divorced mom moved herself and her two teenagers in with her mother, Lucy Abbott, thinking it would be temporary.
During the height of last decade’s housing boom in Los Angeles, developers drew up plans to place luxury condos on top of hotels. The pitch was not only the posh digs, but the hotel services wealthy owners would enjoy without having to leave the comforts of their living room.
LAS VEGAS—The splashy model house unveiled this week during the home-building industry’s largest trade show featured an unexpected design concept: roommates.
Mark and Linda Thering’s brand-new house in Spring boasts 3,100 square feet, a fireplace, game room and two patios. The couple also got something homebuyers until recently could only dream of – a $15,000 discount.
Embers from metro Denver’s scorching housing market, which cooled late last year, remain hot enough to reignite into another nation-leading performance, some forecasts are predicting.
Friendswood Development Co. is gearing up for home sales in two area communities as it reports a high volume of sales in some others.
The Houston area again claimed more top-selling master-planned communities than any other metro area in the U.S., even as two longstanding favorites fell off the list and sales slowed in some others.
Congratulations are in order for the 21 top-selling masterplans in the country, and the top 3 project winners follows last years with The Villages, The Irvine Ranch, and Nocatee.
The dawning slowdown in the Houston-area housing market arrives on the heels of a striking boom where homebuilders and apartment developers increased the housing supply by almost 10 percent in just a few years.
Megan Keskitalo and her husband, Glenn Eckstein, were enthusiastic city dwellers until the suburbs began calling. First it was Chicago’s crime, then it was worry about school districts, and in the end, it was money that pushed them past the city’s edge.
The Federal Reserve’s decision Wednesday to lift interest rates could hit metro Denver residents close to home and temper a two-year run-up in home prices.
The Woodlands brand recognition and the booming south Montgomery County economy has continued to draw in new homebuilders. But time is running out for those looking to get into The Woodlands.
Chinese money is becoming a major force in real estate around the world and in America, with a recent luxury development 35 miles northwest of Dallas being only the latest frontier, according to an article in the New York Times.
Home prices continue to climb, but the U.S. government is keeping a lid on the size limit for federally backed mortgages, posing problems for home buyers in many pricey markets.
Some believe housing starts have struggled because of lot and labor shortages, and high construction cost, but John Burns Real Estate Consulting says it may be a lot simpler than this.
BOCA RATON, Fla. — Weeds, crabgrass and fallen palm fronds cover the wildly overgrown greens of what was once the Mizner Trail Golf Club, its decrepit state emblematic of the fate of hundreds of golf courses around the country, many of them derisively known as “rabbit patches” or “goat farms.”
Surging rents, skyrocketing real-estate prices and booming tech companies. Sounds like San Francisco in 2015, right? It also describes the city just before the tech bust of 2000, according to a recent report.
Looking across the vast spectrum of housing surveys today, most will claim that the majority of renters want to buy a home eventually. That may be, but they’re not saving to do that.
Much attention has been paid to skyrocketing college costs, with many positing that the resultant accumulation of unprecedented student loan debt—now totaling more than $1 trillion—makes homeownership unaffordable for millennials.
October is here: the leaves are changing, jack-o-lanterns are carved, and builders are preparing to hit year-end sales goals. October, of course, is also home to one of America’s greatest sporting events, the World Series.
Now that U.S. homeowners are feeling better about the value of their property, they seem more apt to add to that value.
Ever since the Greeks built temples on high and the Egyptians erected pyramids in the sand, real estate has always been all about location.
Home builders are facing delays and rising costs as they struggle to find enough construction workers.
Home builders this year have booked their strongest sales since the recession. A shortage of construction workers, however, is making it tough…
Northern Virginia has had a so-so housing market thus far in 2015, and David Howell, executive vice president and chief information officer of McEnearney…
Home prices are gaining steam again, fueled by tight supply amid growing demand.
As home values rise, homeowners are gaining more equity on paper — and they’re taking it out in paper.
While no one anticipates a return to the frenzied housing market of the pre-recession days or even the hectic pace in 2013 when low inventory and low mortgage rates pushed some buyers into bidding wars…
John Chaffetz is showing off an apartment building that his development firm, Timberlane Partners, just bought for $7.2 million. He admits it doesn’t look so hot.
The District’s real estate market remained in fifth gear even from June to August when activity typically slows down considerably…
One huge part of the US economy that’s been experiencing major labor shortages is the construction sector.
The U.S. construction industry has lost more than half a million Mexican-born workers since 2007, contributing to a labor shortage…
Home prices are overheating again.
Is your market over- or underpriced? Here is a map of our over/underpriced conclusions today.
When it comes to interest rates, what goes down eventually must go up.
California’s already tight housing market is facing another long-term complication: drought.
As apartment rents keep rising, LGI Homes (LGIH) derives more marketing power to turn renters into homeowners.
It was widely deemed a temporary play: Large-scale investors buying thousands of discounted foreclosed properties during the worst of the housing crash and turning them into single-family rentals.
Construction of single-family homes, which packs an outsize economic punch, has stalled, as new households rent and building costs have risen.
Bond guru Jeff Gundlach’s DoubleLine Capital has announced its first commodity-based investment product.
Houston’s real estate market hasn’t avoided the slowdown triggered by collapsing oil prices, but a more diverse economy will help offset weakness in housing and vacancies in area office towers, industry experts said Tuesday.
The repercussions of Black Monday could go further than just today’s major hit, with the future of Chinese homebuyers now in question.
Chinese home buyers comprise roughly 2% of US housing demand—and far more than that in the gateway metro areas with excellent airport access.
Despite the drought, communities are pushing ahead with plans for new housing, with advocates saying there will be enough water to meet the demand.
Hedge-fund manager John Paulson, who made billions wagering against subprime mortgages, has started to profit from a U.S. housing bet that took longer to ripen: owning land.
Builders and developers will now start building more detached homes for rent.
Your grown-up children may never hit many of the milestones you’ve come to associate with adulthood — and you can blame their crushing student loan debt for that.
Homes like this one in San Francisco are continuing to sell well, and most experts say Bay Area housing prices will be rising over the next year. Many are more cautious about long-term forecasts.
The Orange County (Calif.) Register staffer Marilyn Kalfus delivers a mid-year report on the local housing market, where home sales topped $11 billion in the first half –the most in a decade.
Taylor Morrison, an Arizona-based homebuilder in an expansion mode, has acquired the assets of Orleans Homebuilders in Chicago and two other markets for $166 million.
Erica Luna’s commute eats almost four hours out of her workday, and means no messing around with the snooze button at 4 a.m.
Turmoil in the Chinese stock market could have a quick and direct effect on U.S. housing.
Rents in the highest-quality apartments rose 4.4% last year, including an 8.0% jump in one West Coast portfolio.
Some credit them with saving the housing market. Others blame them for taking advantage of a crisis and bullying real homebuyers out of the American Dream.
Consumers often rate the kitchen as the most important room in the home, and with good reason….
The housing market could be in for a bumpy ride as mortgage rates climb.
If you want an industry with a great long-term outlook, consider construction.
The supply of existing homes for sale is incredibly short, and while builders are starting to construct more homes than they did a year ago, they are still producing well below normal volumes.
A growing lifestyle choice for 75+ seniors.
More than once, the chief executives of Southern California home builders Standard Pacific Corp. and Ryland Group Inc. talked about whether they should combine their operations.
It’s no surprise that rustbelt cities have floundered in the wake of factory closures and businesses moving manufacturing overseas, and that continues to have an adverse effect on housing prices.
Homebuilder David Sinkey looked into his crystal ball about 30 months ago and a disturbing vision appeared.
When Christopher Simmons began shopping for a home in Denver six months ago, he had no idea the risk and the frustration it would take to get one.
Imagine a home that could recycle two-thirds of the water it uses. No need to imagine.
BlackRock’s Rick Rieder takes a strictly pragmatic perspective on the broader consequences of parents not thinking long-term
It’s nearly graduation season, and that means it’s as good a time as any to weigh in on why you should care about rising college costs, even if paying for tuition and paying back student loans won’t ever be on your to-do list.
High rents and more affordable mortgages are not persuading more renters to buy, according to a new study.
Builder optimism, year-over-year gains suggest strong start to spring selling season
If you’re interested in buying a newly constructed house in the Washington region, you’ll find plenty of options in a variety of price ranges.
More signs have emerged that the current spring home-selling season is off to a far better start for the home-building industry than at this time last year.
It may seem like mortgage rates have been vacillating in a tight range, brushing up against 4 percent on the 30-year fixed and then falling back. Rates, however, are still considerably lower than they were a year ago.
A proliferation of data and new data analysis methods are changing the way builders buy, sell and develop vacant land, according to experts, and builders are cautiously optimistic that easier credit and more flexibility will help the new homes market rebound in 2015.
The housing market has been disappointing in the past year, with sales essentially flat. But there are signs that the market is starting to stir.
But while those numbers indicate a drop from 2013, the group still outperformed home sales nationwide, according to John Burns Real Estate Consulting.
Five years ago, Quadrant Homes churned out starter houses in the Seattle area with an average sales price of $269,000 and the marketing slogan, “More House, Less Money.”
The St. Charles Companies reported 250 new home sales for the year, the third year in a row of more than 200 new home sales contracts…
Baby boomers Julie Healy and her husband, Vladimir Leonov, have plenty of energy and mobility now. But…
Sales of New and Existing Homes Look Less Than Inspiring
The huge drop in gasoline prices is just the boost the housing market needs heading into 2015.
Laborers in the US energy industry are nervously watching crashing oil prices as they wonder what persistently low prices could mean for their jobs.
The share of 25- to 29-year-olds who are married is down, way down…
Generally speaking, the industry is experiencing a bright recovery and the outlook continues to be positive for real estate development and housing, though there is still a wide abundance of caution and avoidance of over-optimism regarding appreciation.
A venture led by developer Trumark Homes is paying roughly $200 million for 184 acres of raw land in the hill country east of the Bay Area in a sign that demand remains strong for land in the top housing markets.
One Wall Street firm has an idea that’s raising eyebrows: forgive some student debt for first-time homebuyers.
Joseph Beben wasn’t in the market for a house until he heard about a year-old community in suburban Phoenix where 10 homebuilders are offering buyers incentives such as swimming pools, built-in barbecues and subsidized mortgage rates.
Democrats in tight races have found a new villain this election cycle: student debt.
Just when you thought there couldn’t be any more problems Apple’s newest iPhone is creating the latest concerns.
Discussing how student debt is holding back first time home buyers, with Glenn Kelman, Redfin CEO, and CNBC’s Diana Olick.
In the wake of the FOMC meeting and the IPO hype, we face a week with little new information – the lull before earnings season. This sort of vacuum makes it difficult to predict the week ahead, but I have an interesting idea:
John Burns Real Estate Consulting CEO John Burns weighs in on the latest housing data.
Chris Noblejas, a former real estate agent, got hit by a double whammy during the housing crisis.
Aa groundbreaking ceremony in May, neighborhood activists and local government officials celebrated Ponte Vista, a development of 676 homes in San Pedro.
Demand for new homes slowed sharply during the first half, a development that threatens to reverberate beyond the housing market and throughout the broader economy.
Phoenix is a lesson in housing abuse. From boom to bust, to recovery to relapse, Phoenix housing is forever rising and falling, and now it is falling again. The rest of the nation should take notice.
Foreign Purchases of U.S. Residential Real Estate Jumped 35% Last Year
Cheryl Pate-Yow rushed to LGI Homes Inc.’s sales office south of Houston the day after receiving a mailer that said she could own a new home for $689 a month, only $24 more than rent on her one-bedroom apartment.
Retirement moves, which dropped sharply during the worst of the recession, are making a comeback.
For the first time since the U.S. housing crash, new condominium towers are sprouting in downtown Boston, Seattle and Los Angeles as developers bet on the return of the riskiest type of residential real estate.
Jaimie Adler said it’s getting cramped in the Lexington, Massachusetts, house she shares with her husband, two daughters and an au pair who occupies the former office. They’d sell, Adler said, if more homes were on the market in the Boston suburb.
John Burns Real Estate Consulting founder John Burns on the outlook for the housing market.
The housing rebound is fading. And it may be awhile before it gets a second wind.
D.R. Horton Launches Unit Focused on No-Frills Homes
Why are household formations so low? Because 1.2 million more adults live with their parents than just 8 years ago!
Homebuilders, don’t touch that bathtub! Keep your paws off the dining room too.
It’s hard to expect much of a lift for housing amid a dearth of fresh, real demand—not just demand from investors and speculators.
Construction and sales of new houses in the Washington region have rebounded since the Great Recession, when activity slowed considerably, and analysts are expecting both to continue rising this year.
Affordability Troubles Grow, Especially for First-Time Buyers
The world’s largest alternative-asset manager is among investors buying distressed properties in the Chicago area after private-equity and hedge-fund firms helped send property values surging in hard-hit markets such as Phoenix and Atlanta.
Heavy student-debt loads, persistent employment troubles stemming from the recession and newly toughened mortgage underwriting standards…
Think again. They have nothing on reluctant thirty-somethings.
Did home builders regain their pricing mojo in December?
Cities that are leading the nation in home building have land available for development, pent-up demand for housing, and strong economies and job growth.
Houston’s real estate market is one of the hottest in the world. Nothing this good lasts forever and some say job growth won’t be as strong next year. But the boom is not over yet.
The last three months – he is referring to September, October, and November – “have been characterized by slowing sales and a rising percentage of greedy sellers dropping price to generate activity.”
Good luck finding a new home to buy in Southern California these days-the supply of new home projects open and selling in Southern California is currently at a 20-year low.
Home prices in the Baltimore metro region continued a slow and steady climb in November, while sales grew sluggish, a seasonal trend exacerbated by economic uncertainty.
Will Miami’s market continue its current pace toward recovery? Yes. Overall, we expect Miami’s housing market to experience steady growth. However, lack of affordability and minimal developable land will constrain sales velocity and likely push home prices even higher. We are projecting steady price appreciation in Miami’s market…
John Burns Real Estate Consulting CEO John Burns on 440,000 new home sales in October.
A recent survey of builders carried out by John Burns Real Estate Consulting has revealed that sales of new homes in October fell by 8% compared to September, and by 6% compared to a year earlier. This is the second consecutive month in which this survey has shown…
Weak sales tallies in October mean home builders face a winter full of worry.
A monthly survey of builders across the U.S. by John Burns Real Estate Consulting, a housing research and advisory firm, has found that respondents’ sales of new homes declined…