Full-year US single-family housing starts expected to rise 18% in 2014; homes sales prices finally returning to normal in most markets, although a few markets including Chicago, Las Vegas are still lagging: Metrostudy
May 6, 2014
– Metrostudy Chief Economist and Director of Consulting, Brad Hunter, shares predictions for housing market in 2014.
Metrostudy, a Hanley Wood company, announced today the release of its first-quarter 2014 Nationwide Housing Research study. Each quarter, Metrostudy deploys a team of 350 trained researchers to count every start, lot, and inventory home in over 30,000 subdivisions nationwide and publishes the results.
The new report cites Nashville as a market that has seen a flurry of new projects and new builders. The Texas markets continue to thrive; Houston single-family starts are up 17 percent on the quarter, and Dallas activity is up 11 percent, despite record lot prices and shortages of labor. Phoenix overshot during 2012 and 2013 and is now in a slump. While starts are down in Tampa, which is a job-driven market, starts are up in Naples and Sarasota, which are more retiree-driven markets.
The improved job growth picture is supporting better buyer confidence. Sales prices are finally returning to normal in most markets, though markets like Phoenix, Chicago, Sacramento, and Las Vegas are still lagging.
The full report by Bradley Hunter, Chief Economist and Director of Consulting, can be viewed here.
Metrostudy is the leading provider of primary and secondary market information to the housing and related industries nationwide. Metrostudy provides research, data, analytics and consulting services to help builders, developers, lenders, suppliers, retailers, utilities and others make investment and business decision every day. Metrostudy is a Hanley Wood company. For more information, visit Metrostudy.com.
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