Industry Snapshot: Single-Family Zoning, New Building Products and a Retro Comeback
June 27, 2019
Industry Snapshot is our monthly round-up of top news stories related to the residential home building industry.
This month, the New York Times delved into the touchy topic of single-family zoning, while Builder showcased new building products and Real Simple let designers know that retro décor is making a comeback.
Single-family zoning is losing ground. According to the report, officials across the country are starting to reconsider zoning exclusively for single-family homes amid mounting concerns over affordability, housing shortages, inequality and more. Historically, single-family zoning has been prioritized because of a long-standing belief that dense housing hurts property values. [The New York Times]
2019’s new building products. From new shingles, to in-wall wireless chargers, Builder is chronicling the newest building products of the year. Included is NanaWall’s WA67 folding glass wall, which uses a spacer bar fastening system and proprietary evaporation chamber to successfully mount an extruded aluminum frame to a solid wood core. [Builder]
May home prices up 3.6 percent. U.S. home prices rose again in May, growing three percent from a year ago to a median of $315,700 across the metros tracked by Redfin. The increase is the largest year-over-year increase in seven months, but it still fell short of the 7.1 percent growth rate from a year earlier. [Redfin]
Builder confidence remains sound in June. According to the latest NAHB/Wells Fargo Housing Market Index (HMI), builder confidence is holding steady in regard to the newly-built single-family homes market. While demand is holding steady for single-family homes, builders are reporting rising development and construction costs (which BTIG also noted in our latest Builder Intelligence Report.) [NAHB Now]
Retro décor is making a comeback. According to Real Simple, globe pendant lights, bold wallpaper choices and other retro touches are making a comeback. Joining those trends are elaborate moldings (which add a “noble dimension” to rooms) and geometric curves, like curved walls and brightly colored organic shapes. [Real Simple]
Top 50 largest new-home markets. Builders reported roughly six percent more closings overall in 2018 compared to the year prior, according to Hanley Wood’s latest Local Leaders list. There was only one shift in the top 10 with Denver rising four spots to No. 10, while New York, which ranked 10th in 2017 moved to No. 18. [Builder]