National Association of Home Builders recently commented that 500,000+ new homes will be constructed in 2012 which, they feel will lead to a solid turnaround by 2013. The NAHB Chief Economist, David Crowe states the 2011 was a time of record lows but he feels positive about a recovery in the next few years. However new home sales and construction are still below a healthy market level and some experts feel the US is still years away from normal ranges.Crowe forecasts new, single family homes sales of 19 percent this year of 360,000 up from 303,000 in 2012. In 2013 he expects sales to rise 40 percent to 505,000. However even if Crowe’s report proves to be true economists state new home sales must be at or above the 700,000 range for a healthy economy. Crowe states his forcast was founded on an 8.5 unemployment rate.Crowe states he expects 706,000 new homes will be built this year and 895,000 next year.2011 saw the lowest sales of new homes in 50 years and the lowest new home construction on record.According to the NAHB each new home built creates 3 jobs and on average generates $90.000 in tax revenue.The NAHB also stated that home builders won’t be including so many luxury features it is reported:
Outdoor kitchens and fireplaces aren’t high on the list for 2012.
Sunrooms once a lovely addition to a home now makes home buyers think twice. They are hard to heat and cool so builders are offering larger closets, more generic storage cabinets and larger laundry rooms.
Media rooms are out and as builders focus again on what buyers are asking for: a charging station in a kitchen style island and solar powered gadgets.
High ceiling living and family rooms, often 2 stories high are out. Buyers are focused on energy saving features and are no longer interested in heating large open spaces. Instead they are asking for energy savings appliances and windows
Master-planned developments with appealing options like walking and jogging trails as a community setting are not on the drawing board this year builders say.
Buidling with more green products and less of the traditional supplies
All of these changes reflect the not only state of the economy but focus on saving energym and green living thus making homes more affordable and appealing.