Builder Confidence Surges in June as Housing Rebound is Underway
In a recent article from the National Association of Home Builders, it is reported that builder confidence continues to rise as the nation continues to open up and more and more people are back to work. Housing continues to be a contributing force in the economic recovery following the collapse from Covid-19. Read below for the full article from the NAHB.
In a sign that housing stands poised to lead a post-pandemic economic recovery, builder confidence in the market for newly-built single-family homes jumped 21 points to 58 in June, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today. Any reading above 50 indicates a positive market.
“As the nation reopens, housing is well-positioned to lead the economy forward,” said NAHB Chairman Dean Mon, a home builder and developer from Shrewsbury, N.J. “Inventory is tight, mortgage applications are increasing, interest rates are low and confidence is rising. And buyer traffic more than doubled in one month even as builders report growing online and phone inquiries stemming from the outbreak.”
“Housing clearly shows signs of momentum as challenges and opportunities exist in the single-family market,” said NAHB Chief Economist Robert Dietz. “Builders report increasing demand for families seeking single-family homes in inner and outer suburbs that feature lower density neighborhoods. At the same time, elevated unemployment and the risk of new, local virus outbreaks remain a risk to the housing market.”
Derived from a monthly survey that NAHB has been conducting for 30 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.
All the HMI indices posted gains in June. The HMI index gauging current sales conditions jumped 21 points to 63, the component measuring sales expectations in the next six months surged 22 points to 68 and the measure charting traffic of prospective buyers vaulted 22 points to 43.
Looking at the monthly average regional HMI scores, the Northeast surged 31 point to 48, the South jumped 20 points to 62, the Midwest posted a 19-point gain to 51 and the West catapulted 22 points to 66.
Editor's Note: The NAHB/Wells Fargo Housing Market Index is strictly the product of NAHB Economics, and is not seen or influenced by any outside party prior to being released to the public. HMI tables can be found at nahb.org/hmi. More information on housing statistics is also available at housingeconomics.com.
Townhouse Living on the Rise
With the continued shortage of affordable new single family construction it's no wonder more and more home buyers are embracing townhome living.
There are many great reasons to choose a townhome over a conventional single family dwelling, with convenience at the top of the list. If you hate to spend your weekends mowing the lawn and cleaning out the gutters, townhouse life might be for you.
Townhouses have been around since the 18th century when wealthy British landowners were looking for a place to stay in the city during the social season. They would pack up their country estate households - including servants - and head to the city for the social season. The townhouse was born of necessity.
Today, most of us don't have multiple dwellings to move to and from, but we will likely move from one home to another depending on which stage of life we are living.
The townhouse is a perfect choice for newly married couples. They can be smaller, easier to find than single family homes and more affordable. Townhomes are also an excellent choice for empty nesters for similar reasons. Townhouses are located in all parts of the city so finding one in a good school district also makes them attractive to families with children.
Other advantages to living in a townhouse include in addition to the aforementioned free weekends include great locations, amenities and community.
Beautiful luxury townhouses can be found just about anywhere - from the heart of the city to the suburbs, homeowners are able to live in luxury. Townhomes are usually close to mass transit making them ideal for those who prefer not to drive, or who want to reduce their carbon footprint. They're located in areas with high walkability scores, but also in more rural areas. The choice is yours when it comes to choosing a location for townhouse living.
Amenities are another reason many home buyers are choosing townhomes over single family dwellings. While many new townhomes come complete with Smart features and amenities, traditional amenities such as pool, clubhouse and party room are also still in demand.
The sense of community one has living in a townhome is high on the list of advantages for many home buyers. They enjoy the community that naturally develops by sharing a common wall with other home owners.
Townhouses can be as modest or grand as you desire, just check out our library of townhouse floor plans to see all the variation.
Events in Houston this February
February is a busy month for us at Preston Woods and Associates. Currently we’re working on two large projects – one in Charlotte and one in Nashville. In addition to those townhouse projects we’re working on, we’re also heading out to Las Vegas for the International Builder’s Show. February is typically home improvement month. There are all kinds of events around town that can help you make the most of your home. From the Houston Home and Garden Show to the to multiple home buyer’s seminars and many marketplace events to fill your home, there’s always something great happening in Houston.
Events in Houston this February
When: February 8th– 10th, 2019
Where: NRG Center
The 33rd Annual Houston – Texas Home & Garden Show, presented by Mattress Firm, is Houston’s premier destination for all your home and garden needs. The show returns to NRG Center this February 8-10, 2019, just in time to get all your spring projects ready.
From windows and doors to roofs and floors, this show covers more than 100,000 square feet, with more than a thousand products and services on hand, including experts and ideas all for your convenience. Build a home from scratch or renovate the space you already have!
When: February 9th– 17th, 2019
Where: The Galleria
5085 Westheimer Road
Join Asia Society Texas Center in celebrating the Year of the Pig for a special Lunar New Year celebration at the Galleria! We'll bring free arts and crafts activities, games, and exciting performances for the whole family to enjoy.
When: February 9th, 2019
Where: Sawyer Yards Art Alley
1502 Sawyer Street
The Market at Sawyer Yards debuted in the spring of 2016 and continues 2nd Saturdays. This curated market hosts a mix of artist mediums with a focus on folk art, the maker is the seller & artisan crafts including packaged specialty foods.
Surrounded by the highest concentration of working artists in all of Texas, the market coincides with 2nd Saturday Open Studios, when artists from The Silos at Sawyer Yards, Winter, Spring, Summer and Silver Street Studios, open their studios to the public. The Arts District Houston hosts this eclectic Saturday market produced by Mitch Cohen of First Saturday Arts Market.
When: February 9th, 2019
Where: Brookshire Polo Club
800 Wilpitz Rd
Bring the entire family and come enjoy Houston's BEST Hot Air Balloon Festival!
Is there any better way to celebrate Valentine's Day! Held on a large field just west from downtown Houston, Texas join dozens of vendors, chefs, local musicians, artists, cooking demonstrations, pop-up art galleries, PLUS food and alcohol tasting partners.
Weather permitting, Saturday will include a morning launch and evening glows and tethered rides. Not just about the balloons, Saturday will include Live Music, a Wine Tasting Tent, a Battle of the Chefs Tasting Competition, Polo Matches (a little bit of cowboy polo!) and a kids play area!
When: February 17th, 2019
Where: 1706 Johnson Street
New Year, New Home! Please join us to learn about the Best Mortgage Options for Today's First Time Home Buyers. You will be educated on programs that may fit your home buying needs and get you in a home quicker than you think! Don't miss out!
Lunch will be served, arrive early.
When: February 21st, 2019
Where: NRG Park
One NRG Park
More than 250 teams, led by barbecue aficionados, compete in the World's Championship Bar-B-Que Contest. While most team tents are invitation-only, visitors can enjoy several public venues, including The Garden, Rockin' Bar-B-Que Saloon and the Chuck Wagon. Plus, the carnival is open, for wild rides and fun games.
The Garden Stage, sponsored by Miller Lite, features some of the best up-and-coming and established artists in Texas country. The Rockin' Bar-B-Que Saloon also features live and DJ music, and has an outside patio for visitors to enjoy. Inside the saloon is the Chuck Wagon, where visitors can pick up their complimentary sliced brisket plate with chips and beans.
When: February 23rd, 2019
Where: Village Antiques
1200 Blalock Road #350
The next step in your home transformation – from advanced furniture painting techniques to the art of distressing, a certified Amitha Verma Chalk Finish Paint teacher will reveal everything you need to know about using our products and systems in this private, hands-on workshop.
Your private paint teacher will be there to teach you and then guide you as you work on sample objects and practice the very best techniques in this fun, inspiring setting. Arrive a beginner and leave an expert armed with your samples and a handy instructional booklet so you can recreate the same finishes you love on your own furniture and home decor.
When: February 23rd, 2019
Where: Spindle Tap Brewery
10622 Hirsch Road
Kick off cook off season at our 3rd Annual Chili Competition! Sign your team up to compete, or come to sample!Winners get cash prize!
Saturday, February 23rd from 11:00am – 3:00pm
Set-Up for contestants is 7:00am - 11:00am on the 23rd
Registration: $25/team (This is for the entire team. There is no team size limit.)
RSVP to come and sample!
When: February 22nd – March 5th, 2019
Where: The Strand
2300 Strand Street
At Mardi Gras! Galveston, the extravagance found in Texas’ largest Mardi Gras celebration starts with the beads! More than 3 million beads will be thrown at Mardi Gras! Galveston and that’s just the beginning of the elaborate parades, headliner performances, family events, feasting and other festivities that come with hosting Mardi Gras island style.
WATCH...all your favorite Mardi Gras parades (including the Mystic Krewe of Aquarius, Krewe Gambrinus and Knights of Momus Grand Night Parade as they come to the Entertainment District) from a balcony party on the Strand! Balcony parties include admission into the Entertainment District, access to the balcony party with cash bar and music and a VIP view of the Mardi Gras festivities! Find the full list of tickets HERE.
DANCE…to non-stop entertainment on the Budweiser Stage and Electric Mardi Gras Stage. Buy your General Admission tickets today and have access to all concerts!
RUN…the 108th Mardi Gras! Galveston Official 5k Run to start the party early!
ROLL…with the 8th Annual Zaniest Golf Cart Parade! Golf Cart parade entries receive FREE entry into the Entertainment District & Best Decorated Golf Cart gets FREE Balcony Party Passes!
RIDE…with your “Ticket to Ride” We provide the float, beads, driver and balcony party you provide the Krewe! Gather your friends and contact firstname.lastname@example.org to sign up today and ask about ALL the ways to PLAY !