Lisa Marquis Jackson, SVP at John Burns Real Estate Consulting, provided a comprehensive perspective on the state of the housing recovery at the 2013 Home Improvement Research Institute (HIRI) Fall Conference in Rosemont, Ill. on Oct. 16.
In her presentation, titled "Clarity on the Housing Recovery," Jackson highlighted strong national housing fundamentals and pointed out that though housing starts are less than half of the way toward a full recovery, existing-home sales have already rebounded and then some, thanks in part to activity in the distressed housing market.
The title of the conference was “The Recovery Has Started,” and the title will tell you a lot about the tone of the 2012 Building and Infrastructure Conference presented by merger-and-acquisition specialists Lincoln International and L.E.K. Consulting.
Housing economists, reading the tea leaves of recent building permits and home sales, are not yet ready to say, “It’s over.” But certain states are definitely showing a pick-up in business at both the builder and LBM supplier level. They say one of these states, surprisingly, is Florida.
Rents are rising, occupancy rates are high, and the apartment business is about to explode -- all of which spells good news for the multi-family construction business, according to an analyst for John Burns Real Estate Consulting. In her Housing Dimensions blog, VP Lesley Deutch cited pent-up demand from young adults, modest job recovery and government policy as the three top factors pushing this trend.
While the National Association Home Builders recently reported home size is on the decline, a survey from John Burns Real Estate Consulting found more consumers expect to buy bigger houses (44%) than smaller houses (22%). Who's right? Here's what we heard.
Consumers still want bigger houses. Plus, design is more important than price.
Those were two of the somewhat surprising results of a consumer survey shared by the keynote speaker during the 2011 Building and Infrastructure Conference last week.
John Burns, the keynote speaker and president and CEO of John Burns Real Estate Consulting, said 44% of consumers said they would want to buy a bigger house in the future, compared with only 22% who said they want a smaller house.