Tag Archive for: real estate

Continued Growth of New Home Sales in 2015

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New home sales in the South region of the United States increased by 4.5% in the month of November – an optimistic statistic for one of the slower real estate months of the year.  This statistic shows the continued growth of new home sales in 2015.  Overall, new home sales were higher by 14.5% compared to the 11 months of 2014 at this time.  New home inventories are at an all-time high since January, 2010 at 232,000.

A one-time anomaly that is affecting existing home sales and new home sales is the mandatory system change of 1-lot-199-bedic-creek-exterior-front-1home closing implemented by the United States government at the 1st of October.  As of October 1st, all home loan applications taken after this date had to adhere to a new system and procedure that slowed down the mortgage approval-to-close process.  This new process informs home buyers every single step of the financing process to ensure that they are fully aware of the financial responsibility that they are undertaking in their home purchase.  Because of this, the closings of existing homes was delayed by several weeks as lenders learned and implemented the new system.  Title companies also had to adjust to the process as they were required to respond to documentation that normally had been handled differently in past closings.

The effect on sales at the end of 2015 was apparent as existing home closing number stagnated.  The overflow effect was that home buyers, which typically start looking at existing homes first, were delayed in making purchasing decisions.  Therefore, new home sales were affected by those same home buyers turning to a new home purchase vs. an existing home purchase.  However, even with these delays and anomalies, the new home, real estate market is thriving in 2015 – all numbers year-over-year comparatively are on the rise and show no sign of slowing down.

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Side entry garage that can store two cars. The garade with a side entry does not take away from the front exterior view. This new construction home is located close to New Orleans.

Builders & Buyers Enjoying Robust Real Estate Market

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Builders and buyers alike are optimistic that the recovery of the real estate market nationwide is here to stay as new home sales increased 18% year-over-year in June, 2015 compared to 2014, and new home inventory also increased by 3.4%.  Builders are discovering that bank construction loans are easing slightly on credit requirements and equity, and also with the increasing number of new home sales, builders are “turning over” the new homes that they are St. Tammany Parish real estate market thriving at Bedico Creek Preservebuilding so they are freeing up capital to invest in new lots for sale in traditional as well as master planned developments.

However, all of the great news regarding the real estate market was tempered by a slight drop in sales from May to June, 2015, for a total drop of 6.8%, down from 517,000 in may to 482,000 in June.  However, the summer months sometimes experience a lag because of school getting out, and potential home buyers going on vacation in the early part of the summer.  Overall, new home sales have been increasing both incrementally and expotentially since 2012.

Good news for builders is that there is an increasing demand from new home buyers for homes to purchase. This demand has not tapered off or decreased since the housing market started its recovery.  This trend has especially been noticed in the new, master planned community of Bedico Creek Preserve in St. Tammany Parish which features 11 Neighborhoods of new homes for sale, lots for sale, and new homes under construction.  Buyers living on the 0-277 W. Longview Front ExteriorNorthshore already find that this new home community is convenient to the cities of Mandeville, Madisonville, Covington, and Abita Springs in West St. Tammany Parish.

New lots are constantly being developed as new neighborhoods within the subdivision are opening with available lots for those new home buyers interested in building their own custom home.  There is no shortage of new homes to buy and new lots to buy at Bedico Creek in the Greater New Orleans area.  Contact Bedico Creek to schedule a tour of this Conservation Community by calling 985-845-4200 or E-mailing Info@LiveBedico.com.

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Available Construction Jobs on the Rise

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Well over half a million builders are getting ramped up with the renewal of the real estate market nationwide and are very much now hiring employees as the number of open construction jobs increased in May.  In fact, the number of available construction jobs in the United States has been on the rise since 2012 along with the constant increase of new home sales and new home inventory.  May’s employment increase logged in as one of the 4 highest months of increases since 2012.

Almost 1.8 million contractors, sub-contractors, and trade companies also made up the number of businessesconstruction employment employed in the home building / remodeling categories of the total U.S. employment in June, 2015, bringing the total number of construction employed jobs to 2.442 million.  Now that new homes are being built on lots developed for sale in more and more numbers, the construction industry has gained almost a half a million jobs since the low point of the Great Recession.

In 2015 alone, approximately 127,000 jobs have been added in the U.S. nationwide.  In fact, since hitting the ceiling during 2010, the unemployment rate for builders and construction has dropped from 22% unemployed to 7% slightly higher than the national unemployment rate.  In fact, many builders are facing a shortage in employees as they try to build new homes for the buyer demand as quickly as possible in new home communities that once stood dormant during the Recession.  This increase in demand for construction employment has only been a boon for the real estate industry’s recovery overall.

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