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Housing Starts Reach Post-Recession High in May as Permits Soften

Housing Starts Reach Post-Recession High in May as Permits Soften

In this recent article from the National Association of Home Builders, housing starts reached a post-recession high in May. Housing starts rose 5% to an adjusted annual rate of 1.35 million units - the highest since July 2007. Permits have dropped however, pointing to a decrease in future housing activity. Continue reading the full article below.

Housing Starts Reach Post-Recession High in May as Permits Soften

(NAHB), Total housing starts rose 5 percent in May to a seasonally adjusted annual rate of 1.35 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. This is the highest housing starts report since July 2007.

While housing production numbers rose, overall permits — which are a sign of future housing production activity — dropped 4.6 percent to 1.3 million units in May. Single-family permits fell 2.2 percent to 844,000 while multifamily permits fell 8.7 percent to 457,000.

“Ongoing job creation, positive demographics and tight existing home inventory should spur more single-family production in the months ahead,” said NAHB Chief Economist Robert Dietz. “However, the softening of single-family permits is consistent with our reports showing that builders are concerned over mounting construction costs, including the highly elevated prices of softwood lumber.”

The May reading of 1.35 million is the number of housing units builders would begin if they kept this pace for the next 12 months. Within this overall number, single-family starts rose 3.9 percent to 936,000 — the second highest reading since the Great Recession. Meanwhile, the multifamily sector — which includes apartment buildings and condos — rose 7.5 percent to 414,000 units.

Year-to-date, single-family and multifamily production are respectively 9.8 percent and 13.6 percent higher than their levels over the same period last year. The year-to-date metric can help compare performance data over a specific time period and show growth trends.

“We should see builders continue to increase production to meet growing consumer demand even as they grapple with stubborn supply-side constraints, particularly rising lumber costs,” said NAHB Chairman Randy Noel, a custom home builder from LaPlace, La.

Regionally, the Midwest led the nation with a 62.2 percent increase in combined single- and multifamily housing starts. Starts fell 0.9 percent in the South, 4.1 percent in the West and 15 percent in the Northeast.

Looking at regional permit data, permits rose 42.1 percent in the Northeast and 7.2 percent in the Midwest. They fell 4.6 percent in the West and 13.9 percent in the South.

3 Bedroom Townhouse Floor Plans for Sale

3 Bedroom Townhouse Floor Plans for Sale

If you're in the market for 3 bedroom townhouse floor plans for sale be sure to check out this beautiful 3 story townhouse floor plan. It features 3 bedrooms, 4 bathrooms and a spacious 2 car garage.

3 Bedroom Townhouse Floor Plans for Sale

The main level of this townhouse floor plan is where you'll find the 2 car garage and 3rd bedroom space. This is a great area for older kids or a spacious guest suite for the in-laws or out of town guests. The bedroom is large with a very generous walk-in closet. The bathroom includes a walk-in shower for ease and accessibility. 

Head up the stairs to the second floor of this townhouse floor plan to see the open living area - perfect for those who love to entertain. The living room is the perfect place to have large parties or smaller get-togethers. There's plenty of light and the fireplace provides a cozy setting the lovely room. The kitchen is well-designed with ample work space and storage space. The powder room is located by the main stairway for easy access.

The third floor of this beautiful townhouse floor plan is where you'll find the second bedroom and the master bedroom suite. The master bedroom is large with 10ft tiered ceiling and ample windows for natural light to flood in. The master bath includes a walk-ins shower, soaking tub and private toilet area. The double sink vanity is convenient and provides plenty of storage and organization. The walk-in closet provides additional storage and organization. The second bedroom is spacious with private bath - a great choice for a nursery. 

The roof deck of this home is another great area for entertaining. Show off your celestial knowledge or take in the view of the neighborhood on the roof deck.

This townhome plan has 2402 square ft. of living space. This townhouse plan design has a width of 25'-10" and a depth of 37'-0". For more information on this townhome plan and floor plans please call 713 522 2724 or

E-mail us.
  • LEVEL ONE: 454
  • LEVEL TWO: 918
  • LEVEL THREE: 938
  • ROOF LEVEL: 92
  • TOTAL LIVING: 2402
  • TOTAL COVERED: 3095

     

    CALL 713 522 2724 or

  • E-mail us.

    click here for more information on Townhouse Plans.
    Preston Wood and Associates is a member of the "American Institute of Building Design." The "AIBD" is a national organization with chapters in every major U.S. city including Houston, Atlanta, Albuquerque, Austin, Dallas, Raleigh-Durham and Washington, DC.

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    Events in Houston this July

    Events in Houston this July

    Summer is in full swing – backyard BBQs and fun family get-togethers. If you’re looking for events in Houston this July, be sure to check out the list below. There are plenty of activities to celebrate our Nation’s birthday with fireworks and festivals and later this month there’s even more to do! Have a Happy 4thof July!

     

    Events in Houston this July

     

    Freedom Over Texas

    When: July 4th, 2018

    Where: Eleanor Tinsley Park

    500 Allen Parkway

    Houston, TX

     

    This year Houstonians will celebrate more than three decades of July 4th music and fireworks on Buffalo Bayou. The city’s signature tribute to patriotism - CITGO Freedom Over Texas – returns with NEW live music acts and stunning fireworks, Wednesday, July 4th from 4 p.m. – 10 p.m. Cupid will open the Citgo Main Stage, followed by special guest, The Mavericks with their genre-defying eclectic mix of Tex-Mex, neotraditional country music, and Latin rockabilly. Chart-topping country music star, Chris Young will headline the event. Recently inducted as a member of the iconic Grand Ole Opry, Chris Young has ten No. 1 singles and seven albums to his credit, including the two-time platinum single “I’m Comin’ Over” and 2015’s Gold-certified I’m Comin’ Over, which earned multiple ACM, BBMA, CMA, CMT, Grammy and RDMA nominations and scored three consecutive chart-topping singles. As is tradition, the evening will conclude with a spectacular blast of fireworks thanks to CITGO who has provided the finale since 2015. This is the second year that CITGO has been a dual sponsor providing both the pyrotechnics and titling the event.

     

    Galveston Independence Day Parade and Fireworks

    When: July 4th, 2018

    Where: 37thStreet and Seawall Blvd

    Galveston, TX

     

    Coming up the evening of July 4, Galveston Island will celebrate its annual Independence Day with a parade featuring a procession of floats, decorated military vehicles and performers. The parade will kick off at 7:30 p.m. with a procession on Seawall Boulevard starting at 59th Street and ending at 25th Street.  After the parade, the island will host a 20-minute fireworks show over the Gulf of Mexico at 9:15 p.m. near 37th Street and Seawall Boulevard.  

     

    Red Hot and Blue Festival

    When: July 4th, 2018

    Where: The Woodlands

    The Woodlands, TX

    Put on your red, white and blue and get a prime viewing spot for the exciting South County Fourth of July Parade. The 1.3-mile parade around The Woodlands features marching bands, fire engines, clowns, floats and more! Note: Roads will be closed during the parade; please view the route map for details.

     

    City of Bellaire 4thof July Parade and Festival

    When: July 4th, 2018

    Where: Bellaire Town Square

    7008 5thStreet

    Bellaire, TX

     

    The annual 4th of July Parade and Festival will take place on Wednesday, July 4, 2018. The parade begins at 9:30 am and is followed by the community festival from 10:00 am until 1:00 pm. Bring the entire family and enjoy the parade, carnival games and rides, petting zoo and much more! Festival is held at Bellaire Town Square and Loftin Park. 

     

    Repticon Houston Reptile & Exotic Animal Show

    When: July 14th, 2018

    Where: Pasadena Convention Center

    7902 Fairmont Parkway

    Pasadena, TX

     

    Every year Repticon has received a growing number of requests for a Repticon show in Texas. In July of 2010, at long last Repticon went west with our debut Texas show, Repticon Houston! Hosted at the Pasadena Convention Center and Fairgrounds less than three miles East of Houston’s outer beltway, Repticon Houston features a great selection of reptiles, amphibians, and pet products from across the South, as well as the seminars and activities that only Repticon brings. Now established since 2011 as a show running three times a year, be sure to visit the show in 2018, just outside of Houston, the largest city in Texas!

     

    Delta H Con 2018

    When: July 14thand 15th, 2018

    Where: Houston Marriot Westchase

    2900 Briarpark

    Houston, TX

     

    Delta H Con is the budding flower of hobby Gaming enthusiasts and Anime aficionados in the southern United States. Games range from card games, to board games, role-playing games, live action role-playing games, miniatures, computer games and more. At Delta H Con you can challenge a friend or foe to a duel of wits in your favorite games. We offer a wide range of Anime programming. Voice Actors, Cosplay Guests, Maid and Cosplay shows Anime rooms showing an Anime selection that just might rival your own.

     

    2018 Houston Fajita Festival

    When: July 28th, 2018

    Where: Houston Community College

    5601 West Loop S

    Houston, TX

     

    The Fajita Festival is a celebration of Mexican culture, food, drinks, and entertainment. Come hungry with family and friends to enjoy a day filled with a variety of delicious fajita tacos!’ Texas cookers will have the grill fired up for this 3rd Annual Event!

    Multifamily Builders and Developers Remain Positive about the Apartment and Condo Market as Demand Continues

    In this recent article from the National Association of Home Builders (NAHB), demand continues to boost confidence in the multi-family market.

    Multifamily Builders and Developers Remain Positive about the Apartment and Condo Market as Demand Continues

    (NAHB), 

    Confidence in the multifamily housing market remained positive in the first quarter of 2018, according to the Multifamily Production Index (MPI) and the Multifamily Vacancy Index (MVI) released today by the National Association of Home Builders (NAHB). The MPI remained unchanged from last quarter, coming in at a reading of 53, while the MVI remained essentially unchanged at 42.

    The MPI measures builder and developer sentiment about current conditions in the apartment and condo market on a scale of 0 to 100. The index and all of its components are scaled so that a number above 50 indicates that more respondents report conditions are improving than report conditions are getting worse.

    The MPI is a weighted average of three key elements of the multifamily housing market: construction of low-rent units—apartments that are supported by low-income tax credits or other government subsidy programs; market-rate rental units—apartments that are built to be rented at the price the market will hold; and for-sale units—condominiums. The component measuring low-rent units edged down two points to 54, while the component measuring market rate rental units increased two points to 56 and the component measuring for-sale units remained even at 49.

    The Multifamily Vacancy Index (MVI), which measures the multifamily housing industry's perception of vacancies, remained essentially unchanged with an increase of one point to 42. The MVI is a weighted average of current occupancy indexes for class A, B, and C multifamily units, and can vary from 0 to 100, where any number over 50 indicates more property managers report more vacant apartments. A reading of 42 is seen as a healthy number for the multifamily market.

    “Multifamily builders and developers are reporting solid demand around the country, as shown in the vacancy rate for the first quarter,” said Steve Lawson, president of The Lawson Companies in Virginia Beach, Va., and chairman of NAHB’s Multifamily Council. “We anticipate steady demand through the rest of the year as household formations continue to grow.”

    “The stability of multifamily builder confidence is consistent with NAHB’s view that the market has reached a healthy, sustainable level of production,” said NAHB Chief Economist Robert Dietz. “The overall strong economy is supporting demand and balancing supply-side issues many builders are facing, including shortages of labor and buildable lots, and the recent surge in lumber prices.”

    Historically, the MPI and MVI have performed well as leading indicators of U.S. Census figures for multifamily starts and vacancy rates, providing information on likely movement in the Census figures one to three quarters in advance.

    For data tables on the MPI and MVI, visit www.nahb.org/mms.

    For more information on the NAHB Multifamily program, please visit NAHB Multifamily: https://www.nahb.org/en/members/committees-and-councils/councils/multifamily-council/nahb-multifamily.aspx.

    3 Story Townhouse Floor Plan

    3 Story Townhouse Floor Plan

    This stunning 3 story townhouse floor plan for sale is one you won't want to miss. This floor plan is bright and airy and allows for abundant natural light. 

    Like all of our townhouse floor plans, you can be assured that there are no bugs or mistakes in these floor plans. We've built all of these plans and have worked out any kinks that might have existed.

    This beautiful townhouse floor plan features three levels of townhouse living. The first floor of this design includes the spacious 2 car garage, 3rd bedroom with private bath and large walk-in closet. This design is perfect for those with live in help, returning adult children who need more privacy or for the in-laws who also prefer privacy.

    On the second level you'll find the open main level living area to be warm and inviting. The kitchen is spacious with plenty of work space, cabinet space and countertop area to prep tonight's dinner or a large holiday meal.

    The great room is large with plenty of space for hosting a large holiday gathering of friends and family or intimate enough for a small book club or wine tasting get together.

    The second bedroom is located on the second floor and features French doors, large walk in closet and shared main level bathroom.

    You'll find the master suite on the third floor making this the perfect retreat at the end of the day. The master bath is spa-like with large soaking tub, private toilet area and seperate walk-in shower. His and her walk-in closets provide all the storage you'll need. Utility and laundry rooms are located on the third level.

    This townhome plan has 1828 square ft. of living space. This townhouse plan design has a width of 26'-10" and a depth of 33'-10". For more information on this townhome plan and floor plans please call 713 522 2724 or E-mail us.

    LEVEL ONE:                 418
    LEVEL TWO:                852LEVEL THREE:              558
    TOTAL LIVING:           1828

     

    CALL 713 522 2724 or E-mail us.

    click here for more information on Townhouse Plans.
    Preston Wood and Associates is a member of the "American Institute of Building Design." The "AIBD" is a national organization with chapters in every major U.S. city including Houston, Atlanta, Albuquerque, Austin, Dallas, Raleigh-Durham and Washington, DC.

    2 Story Townhouse Floor Plan for Sale

    2 Story Townhouse Floor Plan for Sale

    If you're looking to build a 2 story townhouse floor plan, you'll want to check out this stunning design by Preston Wood & Associates. Like all of our floor plans for sale, these beautiful designs have been built so you know there are no bugs or kinks to work out. When you purchase a townhouse floor plan from Preston Wood & Associates, you're getting a quality townhouse design without the added expense of a custom design.

    This beautiful townhouse floor plan is two levels with a two care garage, three bedrooms, 3 baths and an open living space.

    If you love to entertain, this is the townhouse floor plan for you. The main living pace is open and inviting. Greet your guests from the main entry and they'll enter into the great room area with both living and dining areas open to the chef inspired kitchen.

    The kitchen in this home is well designed with ample storage and work space. The walk-in pantry provides even more organization and storage opportunities.

    The dining and living room space is open and complete with wine niche. The powder room is located off the wine niche for convenience while remaining out of the way.

    The second level of this townhouse floor plan includes a raised master suite. The master bedroom is spacious with plenty of room for a king bed and sitting area. The master bath features a soaking tub and seperate walk-in shower, double vanity, private toilet area and raised master walk-in closet. 

    The media room seperates the master bedroom from the two additional bedrooms. The two additional bedrooms share a bathroom with tub/shower combination and seperate dressing area. Both bedrooms has large closets. The launtry and utility room is located on the second level for added convenience.

    This townhome plan has 2364 square ft. of living space. This townhouse plan design has a width of 20'-10" and a depth of 72'-0". A flipped (mirrored) version of this plan is available. For more information on this townhome plan and floor plans please call 713 522 2724 or E-mail us.

    LEVEL ONE:                  880
    LEVEL TWO:                1424
    TOTAL LIVING:            2304

    CALL 713 522 2724 or E-mail us.

    click here for more information on Townhouse Plans.
    Preston Wood and Associates is a member of the "American Institute of Building Design." The "AIBD" is a national organization with chapters in every major U.S. city including Houston, Atlanta, Albuquerque, Austin, Dallas, Raleigh-Durham and Washington, DC.