Lack of New Home Construction Could be a Bad Omen for New Buyers

Trouble in paradise? By most standards, the national real estate market is booming. But not for everybody: Aspiring buyers frustrated by the lack of available properties and soaring price of homeownership shouldn’t expect to catch a break anytime soon.

With the pace of new home construction lagging well behind the surging demand for these residences, it looks like the housing shortage is only going to get worse.

Just 81,100 new homes were completed in May—down 3.3% from 83,900 in the same month a year earlier

Read more: http://www.realtor.com/news/real-estate-news/new-home-construction-may-2016/

Popular posts from this blog

Commercial Automation Leader SOMFY Joins ZigBee

The ZigBee Alliance, a non-profit maintaining and delivering open, global standards for the low-power wireless Internet of Things (IoT), announced that SOMFY has joined the ZigBee Alliance. A world leader in the home and commercial automation market, SOMFY develops, manufactures and distributes products in 58 countries across five continents. From motorized window treatments for residential and commercial buildings to automated outdoor extensions, gates and garage doors, SOMFY provides a complete range of the latest motorized solutions, automatic systems and alarms designed to make daily life easier, safer and more pleasant. Read more: http://virtual-strategy.com/2016/08/09/european-home-and-commercial-automation-leader-somfy-joins-zigbee-alliance-board-of-directors/
Read more

Home automation gets cheaper, smarter, easier

The promise of widely available home automation has been around since "The Jetsons" aired 50 years ago. But until recently, smart- home systems have been pricey and complex, typically requiring professional installation. And few consumers have been aware of the availability of such services or haven't been convinced that they needed them. But in recent years, major consumer service providers — including ADT, Comcast and Vivint — have entered the market, helping promote the concept of home automation and make it more accessible to average consumers. Companies such as Comcast and Vivint now offer basic home-automation systems for less than $500 installed. And Lowe's Iris, which is available for about $300 for a full system, is designed for self-installation. "We definitely see that (home automation) is moving increasingly into the mainstream," said Jonathan Collins, an analyst with ABI Research. Read more: http://www.denverpost.com/ci_22649153/is-smart
Read more

New home construction down last month

Construction of new homes nudged down slightly in May, with builders pulling back in the Northeast and Midwest. Housing starts ticked down 0.3 percent to a seasonally adjusted annual rate of 1.16 million units, the Commerce Department said Friday. The government's residential construction report can be volatile on a monthly basis, which might explain the slight decrease. Home construction has improved much of this year, with single-family houses accounting for much of the gains unlike recent years when developers focused more on apartments. Read more: http://www.mercurynews.com/business/ci_30027562/u-s-home-construction-down-slightly-may
Read more