Is Activity in the South…Going South?

Posted in Atlanta Market, Central Florida Market, Charlotte Market, Dallas - Ft. Worth Market, Houston Market, Jacksonville Market, Naples - Ft. Myers Market, National Housing Market, Northern Virginia Market, Raleigh - Durham Market, Rio Grande Valley Market, San Antonio Market, Sarasota - Bradenton Market, Suburban Maryland Market, Tampa Market, The Triad Market | Posted on 08-04-2014 | Written by Brad Hunter

The brad hgovernment release on housing starts for June showed a sharp decline, concentrated in what the Census Bureau defines as “The South.”  Single-family starts were down in June by 9.0% from the previous month, and down 4.3% from twelve months earlier.  Within that number, almost all the decline was in the South, down 20.1% versus the previous month and down 14.5% versus a year ago.

Rumors of the South’s demise are greatly exaggerated.

Read Full Article and See Quarterly SFD Starts

 

 

 

 

Maryland’s housing market experienced growth in the third quarter

Posted in Suburban Maryland Market | Posted on 10-30-2013 | Written by Metrostudy News

(Baltimore, MD – October 30, 2013) Looking forward we expect to see continued increases in new housing production as the recoveries in the resale market and the economy progress. In Maryland, this will begin with the Washington DC suburbs, with Baltimore lagging by several quarters or more. This is according to a recent report by Metrostudy, a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market.

New housing production continues to rise, with 3Q13 starts up 38% over 3Q12. The market is adding 9,553 units annually, continuing a nine quarter trend of increased production. Closings in the third quarter are up 30% versus the previous year, marking the seventh quarter in a row with an increase in closings. Annual closings are now at 9,003 units.

Overall new housing inventories now sit at 6,578 units, which represent 8.8-months of supply. This is down from the 9.3-months of supply in 3Q12.

The number of vacant developed lots (VDL) has fallen to 13,144 VDLs for the entire region. This now represents an 16.5-month of supply of lots in the overall market. However, lot supplies are falling in the core counties, where there is an average 13.1 months of supply. As such, continued increases in activity over the next several quarters will likely result in a significant shortage of lots in core areas, pushing development outward and into the second tier submarkets, while driving up prices of the existing lots.

For information contact:
Phillip Rassel @ 404.751.9440
email prassel@metrostudy.com

About Metrostudy

Metrostudy, a Hanley Wood company, is the leading provider of primary and secondary market information to the housing and related industries nationwide.  Established in 1975 in Houston, Metrostudy provides research, data, analytics and consulting services that help builders, developers, lenders, suppliers, retailers, utilities and others make investment and business decisions every day.  www.metrostudy.com

About Hanley Wood

Hanley Wood, LLC is the premier information, media, event, and strategic marketing services company serving the residential, commercial design and construction industries. Utilizing the largest editorial- and analytics-driven construction market database, the company produces powerful market data and insights; award-winning publications, newsletters and websites; marquee trade shows and executive events; and strategic marketing solutions. To learn more, visit hanleywood.com.

Maryland’s housing market maintains growth in the first quarter

Posted in Suburban Maryland Market | Posted on 05-16-2013 | Written by Metrostudy News

(Baltimore, MD – May 16, 2013) The outlook for the new home market is beginning to brighten. This is according to a recent report by Metrostudy, a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market.

The Baltimore MSA saw some improvement to job growth, adding 30,300 jobs over the same time period. The unemployment rates in both the DC area and Baltimore continue to be below the national average of 7.6%, coming in at 5.2% and 7.0%, respectively. Baltimore has edged nearer to the national average in recent months though which is reflective of historical norms. “The Washington DC and Baltimore regions continue to have some of the tighter labor markets in the country,” said Melissa Jonas, regional director of Metrostudy’s Mid-Atlantic Market.

New homebuyer traffic was 8.4% above the level seen in 2012 in the first quarter, while contracts were up by 34%. The activity seen in the first quarter was promising, with the contracts rising by 6.5% versus 1Q12 rates. Year-over-year for the quarter, the cancellation rate fell by 22.5% to an average rate of 13.7%. New housing production continues to rise, with 1Q13 starts up 10.5% over 1Q12. The market is adding 8,328 units annually, continuing a six quarter trend of increased production. Closings in the first quarter are up 19.9% versus the previous year, marking the fifth quarter in a row with an increase in closings. Annual closings are now at 8,187 units.

Overall new housing inventories now sit at 5,914 units, which represent 8.7-months of supply. However, 36% of these new units in inventory are condominiums that are under construction or sitting finished but vacant. Condos currently have 19.6 inventory months available in the region. Removing the condos from the equation, we see that the single family and town home segments only have a 6.6- month supply of new units available, which is low. “Tightening new home inventories, combined with tightening resale inventories, are making the marketplace quite challenging for buyers.  It is a great time to be a seller, as long as you have your next home secured,” said Jonas.

The number of vacant developed lots has fallen to 13,699 VDLs for the entire region. This now represents a 19.7-month of supply of lots in the overall market. However, lot supplies are falling in the core counties, where there is an average 14.4 months of supply. “As such, continued increases in activity over the next several quarters will likely result in a significant shortage of lots in core areas, pushing development outward and into the second tier submarkets, while driving up prices of the existing lots,” said Jonas.

“Looking forward we expect to see continued increases in new housing production as the recoveries in the resale market and the economy progress. In Maryland, this will begin with the Washington DC suburbs, with Baltimore lagging by several quarters or more,” said Jonas.

For information contact:
melissa jonas @ 703.244.5229
email melissaj@metrostudy.com

About Metrostudy

Metrostudy, a Hanley Wood company, is the leading provider of primary and secondary market information to the housing and related industries nationwide.  Established in 1975 in Houston, Metrostudy provides research, data, analytics and consulting services that help builders, developers, lenders, suppliers, retailers, utilities and others make investment and business decisions every day.  www.metrostudy.com

About Hanley Wood

Hanley Wood, LLC is the premier media, event, information and strategic marketing services company serving the residential, commercial design and construction industries. Through its operating platforms, the company produces award-winning digital and print publications, Newsletters, websites, marquee trade shows and events, Market Intelligence data and strategic marketing solutions. The company also is North America’s leading publisher of home plans.

Shopping, Shipping, and Shifting Hubs

Posted in Economy, National Housing Market, Northern Virginia Market, Suburban Maryland Market | Posted on 04-08-2013 | Written by Metrostudy News

I love the fact that I can purchase just about anything I want, anywhere, at any time with a few simple touches to the screen on my phone.  My order is delivered to my home in no time, and delivery time continues to grow shorter as companies like Amazon rely on bigger regional distribution centers.  I started thinking about this retail magic and how meli1the changes to our global supply chains, and those yet to come, will shape how we live and work.  On one of my recent trips to Baltimore, I was reminded of a potential game changer – Panamax.

Sometime in 2015, the $5.25 billion widening of the Panama Canal will be complete and a new class of super ships will be able to pass.  The Port of Baltimore is poised to accept these 1,200’ long, post-Panamax ships, capable of carrying three times more cargo than the traditional ship.  The port is now home to four, 400-foot-tall cranes, the largest of their kind in the maritime industry. These cranes can reach 22 containers across on a container ship and lift 187,300 pounds of cargo.  Even though the ships won’t arrive for some time, operators of the ships are planning which ports they will ship to and Baltimore stands ready to compete with its 50-foot channel and new cranes. Read the rest of this entry »

Baltimore’s housing market continues to improve in 4Q12

Posted in Suburban Maryland Market | Posted on 02-01-2013 | Written by Metrostudy News

(Baltimore, MD–February 1, 2013) The Washington DC economy continues to expand, adding 34,300 jobs from November 2011 to November 2012. Currently, the MSA has 3,064,800 jobs, the most since January 1991, according to a recent report by Metrostudy, a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market.

The Baltimore MSA saw some improvement to job growth, adding 6,700 jobs over the same time period. The unemployment rates in both the DC area and Baltimore continue to be below the national average of 7.8%, coming in at 5.0% and 6.8%, respectively. Baltimore has edged nearer to the national average in recent months though which is reflective of historical norms. “The Washington DC and Baltimore regions continue to have some of the tighter labor markets in the country,” said Melissa Jonas, regional director of Metrostudy’s Mid-Atlantic division.

New homebuyer traffic was 7.6% below the level seen in 2011in 4Q12, while contracts were down by 43%. The activity seen in 4Q12 was promising, with the conversion rate rising by 40% versus 4Q11 rates. Year-over-year for the quarter, the cancellation rate fell by 32.9% to an average rate of 15.7%. New housing production has picked up very slightly over the past year, with the 3Q12 starts up 20% over 3Q11. “The market is adding 8,082 units annually, continuing a five quarter trend of increased production. Closings in the fourth quarter are up 2.8% versus the previous year, marking the fifth quarter in a row with a slight increase in closings,” said Jonas.

Overall new housing inventories now sit at 5,818 units, which represent 9.0-months of supply. However, 39% of these new units in inventory are condominiums that are under construction or sitting finished but vacant. the single family and town home segments only have a 6.6 MOS, new units available, which is low. The number of vacant developed lots has fallen to 14,000 VDLs for the entire region. This now represents a 20.8-month of supply of lots in the overall market. However, lot supplies are falling in the core counties, where there is an average 17 MOS.

“As such, continued increases in activity over the next several quarters will likely result in a significant shortage of lots in core areas, pushing development outward and into the second tier submarkets, while driving up prices of the existing lots,” said Jonas.

“Looking forward we expect to see continued increases in new housing production as the recoveries in the resale market and the economy progress. In Maryland, this will begin with the Washington DC suburbs, with Baltimore lagging by several quarters or more,” said Jonas.

For information contact:
melissa jonas @ 703.961.1776
email: melissaj@metrostudy.com

About Metrostudy

Metrostudy is the leading provider of primary and secondary market information to the housing industry and related industries nationwide. In addition to providing its own primary housing data for approximately 70% of the United States housing market, the company is recognized for its consulting expertise regarding real estate development, marketing and economic issues, and is a key source of research studies evaluating the marketability of residential and commercial real estate projects. Services are offered through an extensive network of offices located in major metropolitan areas throughout the U.S. For more information, visit www.metrostudy.com.

12/05/12: 2012 Real Estate and Construction Forecast Conference

Posted in Events, Maryland Market, Northern Virginia Market, Suburban Maryland Market | Posted on 11-14-2012 | Written by Metrostudy News

3 Real Estate Credits will be given

December 5th, 2012 Doubletree By Hilton Hotel in Columbia 8 am- 12:30 pm
To attend the 2013 Real Estate and Construction Forecast Conference please register online.No tickets will be mailed.

Click Here to Register Now

Agenda
8:00 am- Registration and Breakfast Buffet
8:45 am- Welcome and Introductions
9:00 am- “The View From The Fed” Andy Bauer, Regional Economist, Baltimore Branch of the Richmond Fed
9:45 am- The NAHB 2013 Industry Forecast Rob Dietz, Assistant Vice President in the Economics Group, National Association of Home Builders
10:15 am - Break
10:30 am- Washington-Baltimore:Similarities and Differences in the Regional Market
Lisa Sturtevant, Assistant Research Professor, School of Public Policy Deputy Director, Center for Regional Analysis George Mason University
11:00 am- Recent Trends and Current Numbers Across “The Region” Melissa Jonas, Metro Study Corporation
11:45 am- “The Outlook for Central Maryland” Anirban Basu; Chairman and CEO of the Sage Policy Group
12:30 pm- Adjourn

Questions:
Contact Carey Swift at 410-265-7400 ext.118

Baltimore’s housing market continues to improve in 3Q12

Posted in Maryland Market, National Housing Market, Suburban Maryland Market | Posted on 11-02-2012 | Written by Metrostudy News

(Baltimore, MD–November 2, 2012) Looking forward we hope to see continued increases in new housing production as the resale market and the economy as a whole recovers, according to a recent report by Metrostudy, a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market.

The Washington DC economy continues to expand, adding 38,200 jobs from August 2011 to August 2012. Currently, the MSA is 5,000 jobs below peak employment, holding close to the December 2007 level seen prior to the recession. “The Baltimore MSA saw some improvement to job growth, adding 6,800 jobs over the same time period,” said Melissa Jonas, regional director of Metrostudy’s Mid-Atlantic division. The unemployment rates in both the DC area and Baltimore continue to be below the national average of 8.1%, coming in at 5.5% and 7.7%, respectively. Baltimore has edged nearer to the national average in recent months.

New homebuyer traffic was 13% below the level seen in 2011 in the third quarter, while contracts were down by 7%. The activity seen in 3Q12 was promising, with the conversion rate rising by 7% versus 3Q11 rates. Year-over-year for the quarter, the cancellation rate rose by 18% to an average 25.3% rate. “New housing production has picked up very slightly over the past year, with the 3Q12 starts up 20% over 3Q11,” said Jonas. The market is adding 7,600 units annually, continuing a four quarter trend of increased production. Closings in the third quarter are up 3% versus the previous year, marking the fourth quarter in a row with a slight increase in closings.

Overall new housing inventories now sit at 5,880 units, which represent 9.2-MOS. However, 38% of these new units in inventory are condominiums that are under construction or sitting finished but vacant. The number of vacant developed lots remains at 14,200 VDLs for the entire region. This now represents a 22.4-MOS of lots in the overall market. However, lot supplies are much lower in the core counties, where most have less than 20 months of supply. ”As such, continued increases in activity over the next several quarters will likely result in a significant shortage of lots in core areas, pushing development outward and into the second tier submarkets, while driving up prices of the existing lots,” said Jonas.

For information contact:
melissa jonas @ 703.961.1776
email melissaj@metrostudy.com

About Metrostudy
Metrostudy is the leading provider of primary and secondary market information to the housing industry and related industries nationwide. In addition to providing its own primary housing data for approximately 70% of the United States housing market, the company is recognized for its consulting expertise regarding real estate development, marketing and economic issues, and is a key source of research studies evaluating the marketability of residential and commercial real estate projects. Services are offered through an extensive network of offices located in major metropolitan areas throughout the U.S. For more information, visit www.metrostudy.com

The Little Engine that Could and the Looming Recessionary Cliff

Posted in Economy, National Housing Market, Northern Virginia Market, Suburban Maryland Market | Posted on 09-05-2012 | Written by Metrostudy News

As summer came to an end, I spent time purging my children’s rooms in preparation for the new school year. I often played talk radio in the background, peppering myself and my children with debates over very adult things, like the Budget Control Act of 2011 (BCA). Recently, I came upon our much-loved copy of Watty Piper’s The Little Engine that Could as I dug through a bookcase. All I could think was that for many areas around the country, the current housing market is very much like the Little Blue Engine, gaining steam and momentum. A possible plot twist looms for our battered little engine though. She isn’t facing a hill, but a potential cliff.

Like other housing markets across the nation, the Washington DC and Baltimore markets look the best they have in years. In Virginia, during the second quarter of 2012, quarterly starts experienced their fourth consecutive quarter of year-over-year increases.  Quarterly starts exceeded quarterly closings by 650 units. New lots are being developed in the region as well. Maryland is beginning to see similar trends emerge. Resale inventories are the lowest they have been since 2005/2006 in both areas. Prices are increasing in both the new and resale markets in many parts of the region. Our Little Engine seems to be gaining some much needed momentum to allow her to climb out of the valley left by the housing crisis of 2007 and 2008.  But, back to that nasty plot twist…

Read the rest of this entry »

Baltimore housing market poised for gains in 2Q12

Posted in In The News, Maryland Market, Northern Virginia Market, Suburban Maryland Market | Posted on 07-27-2012 | Written by Metrostudy News

(Baltimore, MD– July 27, 2012) Expansion in new home construction is expected to continue in the Baltimore market as resale inventories decline and the economy improves, according to a recent report by Metrostudy, a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market.

The Baltimore MSA continues to see strong employment growth, adding 7,000 jobs from May 2011 to May 2012. The unemployment rates in both the DC area and Baltimore continue to be well below the national average of 8.2%, coming in at 5.3% and 7.1%, respectively. “These levels make the Washington DC and Baltimore regions some of the tightest labor markets in the country, said Melissa Jonas, regional director of Metrostudy’s Mid-Atlantic division.

Both the Washington DC and Baltimore resale markets weakened between 2005 and 2007 as inventories grew and sales slowed. Northern Virginia was the first submarket to improve dramatically (2008), followed by the Washington DC suburbs in Maryland (2009), and finally the Baltimore MSA (2011). “There is still optimism in the region that inventories will continue to recede, creating an opportunity for adding more new product to the market, hopefully in the coming months,” said Jonas.

New homebuyer traffic was 2% below the level seen in 2011 in the second quarter, while contracts were up by 4%. New housing production has picked up very slightly over the past year, with the 2Q2012 starts up 2% over 2Q2011. The market is adding 7,250 units annually, continuing a nearly three year trend of stable production. “Closings in the first quarter are up 10% versus the previous year, marking the third quarter in a row with a slight increase in closings,”
said Jonas.

Overall new housing inventories now sit at 5,830 units, which represent 9.2 months of supply. “Over 40% of these new units in inventory are condominiums that are under construction or sitting finished but vacant,” said Jonas. “Removing the condos from the equation, we see that single-family and townhome segments only have a 6.9- month supply of new units available, which is actually low.”

“Looking forward we hope to see continued increases in new housing production as the resale market and the economy as a whole recovers. In Maryland, this will begin with the Washington DC suburbs, with Baltimore lagging by several quarters or more,” said Jonas.

For information contact:
melissa jonas @ 703.961.1776
email melissaj@metrostudy.com

About Metrostudy

Metrostudy is the leading provider of primary and secondary market information to the housing industry and related industries nationwide. In addition to providing its own primary housing data for approximately 70% of the United States housing market, the company is recognized for its consulting expertise regarding real estate development, marketing and economic issues, and is a key source of research studies evaluating the marketability of residential and commercial real estate projects. Services are offered through an extensive network of offices located in major metropolitan areas throughout the U.S. For more information, visit www.metrostudy.com.

Baltimore looks increases in new housing production

Posted in Maryland Market, Suburban Maryland Market | Posted on 04-26-2012 | Written by Metrostudy News

(Baltimore, MD– April 26, 2012) The Baltimore housing market hopes to see continued increases in new housing production, according to a recent report by Metrostudy, a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market.

The Baltimore MSA continues to see strong job growth, adding 24,200 jobs from February 2011 to February 2012. The unemployment rate in Baltimore continues to be well below the national average at 7.5%.

The Baltimore resale market weakened between 2005 and 2007 as inventories grew and sales slowed. “There is still optimism in the region that inventories will continue to recede, creating an opportunity for adding more product to the market,” said Melissa Jonas, regional director of Metrostudy’s Mid-Atlantic division.

New homebuyer traffic was 10% above the level seen in 1Q11. New housing production has picked up significantly over the past year, with the 1Q12 starts up 27% over 1Q11. Closings in the first quarter are up 3% compared to the previous year, making a second quarter in a row with a slight increase in closings.

Overall new housing inventories now sit at 5,849 units, which represent 9.5 months of supply. “Over 40% of these new units in inventory are condominiums that are under construction or sitting finished but vacant,” said Jonas. “Removing the condos from the equation, we see that single-family and townhome segments only have a 6.7 month supply of new units available, which is actually low.”

“Looking forward we hope to see continued increases in new housing production as the resale market and the economy as a whole recovers. In Maryland, this will begin with the Washington DC suburbs, with Baltimore lagging by several quarters or more,” said Jonas.

For information contact:
melissa jonas @ 703.244.5229
email melissaj@metrostudy.com

About Metrostudy
Metrostudy is the leading provider of primary and secondary market information to the housing industry and related industries nationwide. In addition to providing its own primary housing data for approximately 70% of the United States housing market, the company is recognized for its consulting expertise regarding real estate development, marketing and economic issues, and is a key source of research studies evaluating the marketability of residential and commercial real estate projects. Services are offered through an extensive network of offices located in major metropolitan areas throughout the U.S. For more information, visit www.metrostudy.com.