Are New Homes Being Built in Your Area Once Again?

Nicole Harris
January 29, 2013
THE TALK...

Sometimes, a taxi ride sums up the mood of a city, or even an industry event. Last week, I shared a cab from the International Builders' Show to the Las Vegas airport with Phil Melancon, owner of Great Wood Homes in Lafayette, Louisiana. In addition to being a custom homebuilder, Phil is a National Association of Home Builders board member.

We agreed that the mood at this year’s show was positive on all fronts and that this was a welcome change from the last few events. The stats shared during IBS indicated a national uptick in homebuilding as the rate of foreclosures continues to fall. Of the 25 largest metropolitan areas covered by Zillow Real Estate Research, Riverside, Calif., ranked highest with 22.4 percent in foreclosure re-sales.

Phil told me he builds one spec home at a time, waiting for it to sell before building the next one. He’s always been cautious this way, an approach that kept him solvent while some of his former competitors defaulted on multiple spec homes they rushed to build in the boom years. Today, some national builders are moving into his area once again, but he’s staying focused.

So, that’s our poll question of the week: Are new homes being built in your area once again? If you had a pool of “underwater” homeowners, are they now treading water rather than drowning? Is your area emerging from the bottom at a decent rate? Are you in the midst of a housing recovery? Is homebuilding back on track in your area? Post a comment or email me to share your thoughts.

 

Survey Results as of 02/05/2013 :
 

Are New Homes Being Built in Your Area Once Again?

Yes, I'm seeing homebuilding activity in my area.

  

 

45.45%

 

No, we're still just scraping off the bottom of the housing bust.

  

 

35.46%

 

Yes, I'm seeing activity, but it hasn't hit my business yet.

  

 

19.09%

 

 

     

 

  

 

 

 

 

 

 

The author is publisher of Window & Door and Glass Magazine and vice president of publications for the National Glass Association. Write her at nharris@glass.org.