Market Report
Some interesting information came out recently about the national housing market, as well as the Atlanta market.
Metrostudy recently released its National Residential Economic Report for the third quarter of 2017. Here are some highlights regarding the national outlook:
¨ Housing starts will continue to slowly climb, likely peaking in 2020.
¨ The market is significantly undersupplied, and will become moreso through 2020.
¨ In most markets, the window for land purchases and land development will remain open through 2019.
¨ A surge in the remodeling/renovation market will continue in the near term, partly due to the lack of new home supply.
¨ The market is headed toward over valuation and some markets are already over valued. Still, national values are nowhere near the levels of over valuation seen in 2005/2006.
The Professional Builder Design Innovation Survey revealed homebuyer preferences. Here are a few.
The most important things homebuyers want in kitchen spaces are:
1. Kitchen island
2. Walk-in pantry
3. Breakfast bar
4. Breakfast nook
The most important things homebuyers want in bathroom spaces are:
1. Dual vanities in master bath
2. Additional storage areas
3. Secondary bath or shower only
4. Walk-in, roll-in, or door-less shower
The most important things homebuyers want in living spaces are:
1. Walk-in closet from master bedroom
2. Great room (kitchen/living/dining spaces)
3. Energy-efficient features
4. High ceilings/first floor (9’-0” or higher)
The Atlanta Realtors recently published their Real Estate Market Report. Here are some findings as of September 2017 –
¨ 14,980 Active Listings
¨ 4,517 Unit Sales
¨ $301,000 Average Price
¨ 4,450 New Listings
¨ 3.1 Month’s Supply
¨ $243,000 Median Price
The Holidays Are Here
The Holiday season is upon us. Where did this year go!?!
While driving home on November 6th I saw a home fully lit with Christmas lights. I think that’s a little too early for Christmas lights, but to each his own.
With Thanksgiving just a few days away, there are many things to be thankful for. It has been a busy year for our company, which has been wonderful. I want to take this opportunity to thank YOU – our clients, friends, associates, and everyone that has referred our company to others this year. All of us at Herbert Construction Co. are thankful for all of you.
Throughout the upcoming weeks, I hope you are able to spend time with your family and friends and truly enjoy this holiday season.
To Your Success,
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In late September I accomplished a long-time goal of completing an Ironman 70.3 triathlon. After five months of training, I finished the 1.2 mile
swim, 56 mile bike and 13.1 mile run – and even beat my goal time by
10 minutes. It was a great experience!
swim, 56 mile bike and 13.1 mile run – and even beat my goal time by
10 minutes. It was a great experience!