Over 1 Million in Housing Starts and an Increase in New Home Sales in April, 2014
Housing starts and permits exceeded 1 million in statistics posted by the National Association of Home Builders. Housing starts numbers were driven nationally by multi-family residential construction starts mainly in the Midwest. However, single-family home starts increased 14,000 to a rate of 649,000 new home starts, up from 635,000 starts in March, 2014. Also, housing permits were also at over 1 million for the 3rd consecutive month, indicating a strong and steady upward trend of the real estate market.
Sales have been brisk at the beginning of the spring housing season – a time of year typically known to reflect strong housing statistics. New home sales increased by 6.4% to 433,000 homes. In St. Tammany Parish at Bedico Creek Preserve, sales for our new homes have also been higher than average and very steady, reminiscent of a “normal” real estate market in the spring. During the St. Tammany Parrish 2014 Parade of Homes, our builders experienced record traffic to the neighborhood, and some were able to secure appointments and contracts for future business.
Nationally, Bedico Creek Preserve is following recovering housing market trends in that we are now consistently building new inventory homes for sale. When the market was tighter, builders preferred to build homes for new home buyers that were able to contract on a new home and then build it to their specifications. Now, at Bedico Creek Preserve, we are offering a new Neighborhood called Cypress Crossing, where 3 of our experienced and top Builders are building new “spec” homes for sale. There are a variety of floorplans from which to choose, and home buyers will enjoy all of the Amenities of Bedico Creek including 500 acres of green space and water features. Nationally, 192,000 new homes are currently available for sale up from an all-time low inventory of 142,000 new homes in July, 2012.
Some statistics that directly affect home buyers in St. Tammany Parish include that home starts for owner/builders who build a new, custom home on their own land or a lot purchased in Bedico Creek Preserve rose, nationally, to 27,000 starts up from 25,000 in the first quarter of 2013. Also, average home sizes have increased in all categories nationwide as a reflection of buyers currently active in the new, single-family home market. Details of these increases are listed below:
• During the first quarter of 2014, the average single-family floor area increased from 2,656 to 2,736 square feet.
• During the first quarter of 2014, the median square footage of a single-family home rose from 2,465 to 2,483.
• Based on averaging new home sizes on a 3-month basis, new homes overall have increased 13% to 2,685 square feet.
• Based on the same time period of 3-months, the median size of new homes has increased overall by more than 17% to 2,471 square feet.
Bedico Creek Preserve has specific requirements for the square footages of our new, custom homes which can be found by interested home buyers in our Design Guidelines. However, most homes in Bedico Creek either meet or exceed these national numbers. The Greater New Orleans area in general experienced less of the devastating effects of the Great Recession, and St. Tammany Parish new home sales seem to either be matching or exceeding the recovery numbers recorded by the National Association of Home Builders. Visit Bedico Creek Preserve today to discover a quiet, country lifestyle with livable lots for sale and some of St. Tammany Parish’s top-rated builders. Contact us at 985-845-4200 or E-mail Info@LiveBedico.com.
