Trends and challenges

Trends and challenges

It seems like the economy may finally be straigtning out...at least that's my opinion.  I have many of our clients ask me what the future may hold for homebuilding so I thought I would put a few of my thoughts down.

What's good....

Interest rates are still at historic lows.... it is still a great time to build a home!

Home sizes continue to remain modest. Most of our clients are staying on the smaller side with the average being around 3200 square feet but they are putting a lot of very nice selections on the interior.

Home technology continues to improve with energy efficiency remaining a really hot topic. We are actually seeing some pricing on energy techonology such as LED lighting and solar coming down somewhat.

Trade base is returning to normal. With homebuilding starting to heat up again...we are seeing our trades starting to hire more people. The last 4 years have been a little bit of a challenge trying to schedule the trades since they were are historic low levels on their employment base.

Triangle is hot. The Raleigh/Durham/Chapel hill markets are hot and continue to recieve national recognition as a great place to live. One of the biggest hot spots to look for in the near futue will be Chatham County...specifically surrounding the town of Pittsboro.

What's not so good...

Lot availability.... good lots are hard to find....if you find one...buy it!

Material pricing. Well ... I guess you can't blame them but most of the material manufactoreres are trying to recover some of their losses from the great recession and we are seeing commodity pricing on items such as lumber, sheetrock, roofing...just to name a few....at historic highs right now. Look for this trend to continue.