the full print edition
|View Property Transfers|
NH homes for sale
Towns & cities: |
♦ REAL ESTATE
♦ HOME SERVICES
Homebuilding appears headed for comeback in 2014
But nationwide home construction is still far below where it was before the recession, the industry’s top economists say.
Crowe is forecasting that single-family home starts in the U.S. could rise more than 30 percent in 2014. He spoke this week at the industry’s annual International Builders’ Show in Las Vegas.
Estimates are that U.S. builders started 621,000 houses last year — a rise of 16 percent from 2012 construction. But housing starts remain at less than half of where they were in 2006.
“The consumer is much more on board now,” he said. “Attitudes not just about the overall economy but housing in particular have improved.”
Only about 8 percent of annual home sales are new properties, Crowe said.
“The new home component is half of what it normally is,” he said.
Annual housing moves are still restrained.
“Existing homeowners are reluctant to roll over” into another house, Crowe said.
“From the beginning of the Great Recession and on, we have created households at a much slower rate than we have historically,” said David Berson, chief economist with Nationwide Insurance.
He predicts that household formation will increase this year, bringing more home purchases, as long as the job markets hold up.
Those who decide to make a purchase in 2014 will pay more to finance their properties, but home loan interest rates remain low by historic measures.
“Most housing markets across the U.S. will remain generally affordable,” he said, and overall home sales should rise about 5 percent.
Nationwide home prices rose about 11 percent in 2013.
A Massachusetts developer has walked away from its $1.3 million deal to buy the city's former police station and convert it for a mixed-use development that would include student housing. The...READER COMMENTS: 0
A Manchester man who duped banks out of millions in a scheme that targeted people facing foreclosure was sentenced to six years in federal prison on Monday.READER COMMENTS: 0
After falling into disrepair since it closed four decades ago, there is no estimate to how much it could cost to breathe new life into “The Castle,” a former prison at Portsmouth Naval...READER COMMENTS: 0
The Navy hopes to find someone interested in developing “the Castle,” the former naval prison that shares Seavey Island with the Portsmouth Naval Shipyard.READER COMMENTS: 0
Although it's still a work in progress, the proposed renovation/expansion of the Balsams Grand Hotel Resort now has the support of Gov. Maggie Hassan and U.S. Sen. Kelly Ayotte.READER COMMENTS: 0
Police and fire officials used a thermal-imaging camera to find a pet cat that was accidentally left behind when the owner's home was foreclosed on.READER COMMENTS: 0
Bob Bahre says he loves New Hampshire, a state he called home when he created what became New Hampshire Motor Speedway in Loudon. But his family no longer needs the sprawling lakefront property he...READER COMMENTS: 0
The 99-year-old brick theater at 53 Water St. was listed for $499,900 with Ruffner Real Estate on Feb. 3.
Home & Garden
Home & Garden
The New Hampshire Preservation Alliance, in preparing for its March 15-16 Old House & Barn Expo, checked with some key sources to explore what's trending and what's classic.READER COMMENTS: 0
In New Hampshire, people have a great appreciation for history and traditional arts. Many communities are home to artisans dedicated to preserving traditional ways of doing things and making things.READER COMMENTS: 0
Construction on the Braemoor Commons senior housing development is underway and is getting high marks from some Planning Board members.READER COMMENTS: 0
Hillsborough pewterer continues an age-old craft.READER COMMENTS: 0
Dave Adams and his wife, Debby, were only in their 20s when they bought the old house at 210 Gates St. in the South End in 1974.READER COMMENTS: 0
What's our winter constant?READER COMMENTS: 0
Brief items of interest to New Hampshire's gardeners.READER COMMENTS: 2
New Boston hydroponic farmer produces year-round.