Charleston New Homes - Charleston Home Builders Association
Transcription
Charleston New Homes - Charleston Home Builders Association
Charleston New Homes Snapshot Volume SEVEN | Issue ONE | January 2015 Observations & Trends Welcome to the first issue of the Charleston New Homes Snapshot for 2015. I hope everyone enjoyed the holiday season and is ready for a great 2015! For the first time in over 8 years, there are many national real estate forecasts projecting a solid 2015 and I expect it to be even stronger here in our local market. Even with new home inventories down in 2014, it made up 23% of all the closed homes in the Tri— County area with just over 3100 closings. We also saw our single family permits rise to over 4,000 pulled last year. Within our three county market, there are many new communities set to open including two large master planned communities, Nexton and Summer’s Corner by Mead Westvaco in the first half of this year. With job growth projected to continue to increase and the increase of household formations and baby boomers retiring to our area, I project 2015 to see continued growth in our local new home market. In the graphs below, we will look at permits, closings by county and a chart comparing starts and closings. ~Will Jenkinson New Homes Services Quarterly Permit Comparison Land & Asset Services Community Sales & Management Professional Site Agents Training Programs Market Reports (Research) Marketing/Design Services Above you will find a graph from Real Estate Information Service, Inc that compares the quarterly permit from the 4th quarter of 2011 through the 3rd quarter of 2014. Each Quarter has shown improvement in permits over the same quarter in the past 3 years. Typically, strong permit activity is a good sign that builder confidence is increasing in the market. This is always a strong indicator of the future and it seems positive by this graph. © This material is the property of the Real Estate Information Service, Inc. and Carolina One New Homes and cannot be used without consent. New Home Closings by County 2014 YTD Above you will find a graph from Real Estate Information Service, Inc that shows the new home closings by county through the 3rd quarter of 2014. As you can see, Charleston County leads the way with 810 closings and 44% of all the new home closings for the Charleston MSA. The top two Charleston County communities are Carolina Bay and Carolina Park and they make up over 25% of the total number of new home closings in the county. With new communities opening up in all 3 counties in 2015, we will continue to see this graph balance out. STARTS vs CLOSINGS For more information on new home data and REIS contact: Brian J. Foster Sales and Research Consultant [email protected] Office: 843.297.7182 Mobile: 843.723.8682 Contact Information: Will Jenkinson, BIC [email protected] 843.202.2023 The chart above provided by Real Estate Information Service, Inc shows the new home starts and closings from Jan 2013 through September 2014. There has been steady growth in both of these areas during this time frame and with the builder confidence continuing to improve along with other market indicators, I project that both of these will see strong growth into 2015. © This material is the property of the Real Estate Information Service, Inc. and Carolina One New Homes and cannot be used without consent.