pcba/SENTRY

Small Bits of Good News

Posted by pcbasentry on August 4, 2009

There’s been a number of articles recently containing small bits of good news about our industry. I’ve given a sampling of them here.  Click on the links to read the full articles.

From NAHB

Builder Confidence Rises Two Points In July

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July 16, 2009 – Builder confidence in the market for newly built, single-family homes notched up two points in July to its highest level since September 2008, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today. The HMI rose two points to 17 in July as builders saw an improvement in current sales conditions but continued to express concerns about the future.

From Builder Online

Single-Family Construction Spending Grows For First Time in 40 Months

For the first time in more than three years, spending for single-family construction grew in June on a monthly basis, increasing 2.4% compared to May. This translates into a seasonally adjusted level of $93.5 billion, which is 51.1% below June 2008’s level, according to figures released Monday by the U.S. Census Bureau.

From HousingZone.com

Construction Spending Increases in June

Turn up in single-family construction, more remodeling construction contribute to uptick

Jim Haughey, Chief Economist, Reed Construction Data
August 3, 2009
HousingZone

Construction spending increased 0.3 percent in June 2009 from May 2009, based on U.S. Census Bureau data. Reed Construction Data explains the unexpected gain as driven by the long-awaited turn up in single-family construction; stronger residential remodeling construction; and small increases for healthcare, education, transportation, highway, manufacturing, amusement/recreation and water facilities. Construction declined for multi-family housing, “for-lease” commercial properties and power generation and transmission. Nonetheless, small monthly declines are still expected for the rest of the year, with nonresidential work falling faster than residential work improves.

and finally, From the Palm Beach Post

Luxury home sales on the rise again in South Florida

Miami Herald

Sunday, August 02, 2009

Patricia Delinois’ Black-Berry is buzzing again. After a long, dreary drought, her Sunday afternoons are filling up with open houses.

Delinois, who handles very expensive real estate, says a flurry of new activity is providing hope that the luxury home market has a pulse again, after taking a beating in recent months — albeit with kid gloves.

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