St Louis New Homes - St Louis Real Estate News

New Home Construction Activity Up Slightly In St Louis Area – St Charles County Losing Steam

By Dennis Norman, on April 11th, 2018

New home construction, based upon building permits issued, is up overall for the 7-county area covered in St Louis by the Home Builders Association of St Louis and Eastern Missouri (HBA). For the most recent 12-month period reported for this area, through the end of February 2018, there have been 4,720 single family permits issue versus 4,579 for the prior 12-month period, an increase of 3.08%.

As the table below shows, 5 of the 7 counties reported on by the HBA have seen double-digit increases in new home construction during the past 12-months, Lincoln County and St Charles County being Continue Reading →

New Home Construction In St Louis Area Trending Upward In Most Areas – St Charles County Sees Decline

By Dennis Norman, on February 23rd, 2018

New home construction in the St Louis area is off to a good start for 2018 with a total of 326 building permits for new homes being issued during January for the 7-county St Louis area reported on by the Home Builders Association of Eastern Missouri. This permit activity in January represents an 11% increase over the activity in January 2017 when there were 293 new home permits issued. During the month of January 2018, 4 of 7 counties saw an increase in building permits from January 2017 (Jefferson County +26%, Franklin County +143%, Warren County +1%, St Louis City Continue Reading →

New Home Construction On The Rise In Warren County And Other Outlying Counties

By Dennis Norman, on October 28th, 2017

New home construction in the St Louis and surrounding areas for the first three quarters of this year is up slightly from the same time last year, according to the latest permit data from the Home Builders Association of Greater St Louis. However, as the table below shows, only 4 of the 7 counties reviewed had an increase in building permits while the other three, including the county with the greatest number of building permits, St Charles County, saw a decline.

St Louis Area New Home Building Permits – Year to Date Through September 30, 2017

(We work Continue Reading →

Characteristics of New Homes Sold In 2016

By Dennis Norman, on June 1st, 2017

The U.S. Department of Commerce just released it’s 2016 CHARACTERISTICS OF NEW HOUSING in which it revealed features, amenities, prices, sizes, etc of new homes built and sold during 2016 in the United States. You can see all the data in the complete report for the U.S. by clicking on the link however I’m going to just focus on the homes built here in the midwest region. Continue Reading →

Number Of New Homes Sold In St Louis Declined Last Year After 2 Years Of Growth

By Dennis Norman, on March 30th, 2017

New home sales in St Louis declined in 2016 after increasing during the prior two years, for both the entire St Louis MSA as a whole as well as the St Louis 5-County Core Market. Continue Reading →

Midwest Home Builders Optimism About New Home Market Hits Record High in March

By Dennis Norman, on March 18th, 2017

Happy home builders? Wow, I remember those days, back before the real estate bubble and market collapse, boy were those the days! Well, the good news is, while builders still have their challenges, according to the latest survey by the National Association of Home Builders, builders in the Midwest are more optimistic about the new home market than they have ever been! (or, at least since the beginning of the regional level index records that are published). Continue Reading →

Why You Need A Private Building Inspection When Buying A New Home

By Dennis Norman, on February 9th, 2017

As a real estate broker and former real estate developer and builder, I’m surprised how many transactions I see in which a new home buyer forgoes a private building inspection thinking, since the home is new, an inspection is not necessary. Continue Reading →

Midwest Region Of U.S. Has Greatest Increase In Home Sales In August From Year Ago

By Dennis Norman, on September 26th, 2016

New home sales in the midwest region of the U.S. during August 2016, increased 39.7 percent to a seasonally-adjusted, annual rate, of 81,000 new homes from a rate of 58,000 homes a year ago. Continue Reading →

New Home Construction In Midwest Jumps In August From Year Ago-Bucks National Trend

By Dennis Norman, on September 20th, 2016

New home construction in August increased in the midwest region of the U.S. by 10.5 percent from a year ago to a seasonally-adjusted, annual rate of 116,000 homes. Continue Reading →

New Home Construction In The Midwest Slows In July But Still Up YTD From Last Year

By Dennis Norman, on August 17th, 2016

New home construction in the midwest region of the U.S. occurred at a, seasonally-adjusted, annual rate of 112,000 homes in July, down 2.6% from the month before and down 6.7% from July 2015 when the rate of new home starts in the midwest was at 115,000 homes, according to a report released by the U.S. Department of Commerce. Continue Reading →

New Home Sales In Midwest Soar In June Increasing 44 Percent From Year Ago

By Dennis Norman, on July 27th, 2016

New home sales in the midwest region of the U.S. , like the temperature during the period, soared during June 2016 to a seasonally-adjusted, annual rate, of 85,000 new homes, an increase of 44.1 percent from June 2015 when new homes in the midwest sold at an annual rate of 59,000 homes, according to a report just released by the US Census Bureau. Continue Reading →

Past 5 Years Increase In Regulatory Costs Associated with New Homes Nearly Five Times Higher Than Increase In CPI

By Dennis Norman, on May 10th, 2016

The median price of a new home in the U.S. in 2011 was $227,200 and this year, thus far, the median price is $288,000, an increase of 26.7 percent in that five-year period, according to data from the U.S. Census Bureau. Continue Reading →

New Home Sales In Midwest Rise Over Ten Percent In March From Year Ago

By Dennis Norman, on April 25th, 2016

New home sales in the midwest region of the U.S. during March rose 10.3 percent from March 2015, according to a report just released by the US Census Bureau. In March 2016, new homes were sold in the Midwest at a seasonally adjusted annual rate of 64,000 new homes, an increase of 18.5 percent from February, when the rate was 54,000 homes and a 10.3 percent increase from March 2015 when the rate of new home sales in the midwest was 58,000 homes annually. Continue Reading →

New Home Construction In Midwest During March Increases Over 40 Percent From Year Ago

By Dennis Norman, on April 19th, 2016

New home construction in the midwest region of the U.S. continued strong in March with home builders beginning construction on new homes at a seasonally-adjusted annual rate of 123,000 home, a 41.4% increase from March 2015 when the new home start rate was 87,000 homes. March’s rate was a decline of 21.2 from February when an increase of nearly 90 percent from the year before sent the annual rate to 153,000 homes. Continue Reading →

New Home Construction In Midwest In February Up Nearly 89 Percent From Year Ago

By Dennis Norman, on March 16th, 2016

Home builders began construction on new homes in the Midwest region of the U.S. in February at a pace of 153,000 new homes annually, an 88.9% increase from February 2015 when new home starts in the midwest was at an annual rate of 81,000 homes. February’s spike in new home construction was an 18.6% increase from January’s annual rate of 129,000 homes. Continue Reading →

New Home Sales In Midwest Decline In November

By Dennis Norman, on December 24th, 2015

New home sales in the U.S. in November rose 9.1 percent from a year ago, and increased 4.3 percent from the month before, according to a report just released by the U.S. Commerce Department. In the midwest region however, new home sales slid in November, falling 8.6% to a seasonally-adjusted annual rate of 53,000 homes from 58,000 the month before and decreasing 10.2 percent from November 2014 when new home sales in the midwest were at an annual rate of 59,000 homes. Continue Reading →

New Home Sales In Midwest Declines For Second Consecutive Month

By Dennis Norman, on October 26th, 2015

New home sales in the U.S. in September lost some steam declining 11.5 percent from August, however, let’s not forget, August was a record month for U.S. New Home Sales which sold at the highest annual rate since February of 2008, according to a report just released by the U.S. Commerce Department. New homes sold in September at a seasonally-adjusted, annual-rate, of 468,000 homes, a decrease of 11.5 percent from the month before an an increase of 2.0 percent from September 2014 when new homes sold at an annual rate of 459,000 homes. Continue Reading →

New Home Sales In U.S. Hit 7 Year High In August-Sales Slip In Midwest

By Dennis Norman, on September 25th, 2015

New home sales in the U.S. in August sold at the highest annual rate since February of 2008, according to a report just released by the U.S. Commerce Department. New homes sold in August at a seasonally-adjusted, annual-rate, of 552,000 homes, an increase of 5.7 percent from the month before an an increase of 21.6 percent from August 2014 when new homes sold at an annual rate of 454,000 homes. Continue Reading →

New Home Construction In St Louis Slips In July Still Up For The Year

By Dennis Norman, on August 31st, 2015

New home construction activity in St Louis during July showed mixed results around the St Louis area. For the five-county core St Louis market that I focus on (city of St. Louis and counties of St Louis, St Charles, Franklin and Jefferson) permits issued for new homes during July slipped 2.7% to 322 from 331 the year before. The decline was concentrated in just two counties however, albeit the two largest ones, St Louis and St Charles. St Charles county saw permits fall to 142 for July, down almost 25 percent from July 2014 when there were 189 permits issued Continue Reading →

New Home Sales In the Midwest Decline In July But Prices Increase

By Dennis Norman, on August 25th, 2015

New home sales in the midwest declined in July to a seasonally-adjusted annual rate of 54,000 homes, a decline of 6.9 percent from the month before when sales were at a rate of 58,000 homes, according to a report just released by the U.S. Commerce Department. The new home sales rate for the midwest in July 2015 was exactly the same as July 2014. Continue Reading →

New Home Sales Slip In June In The Midwest

By Dennis Norman, on July 24th, 2015

New home sales in the midwest slipped in June to a seasonally-adjusted annual rate of 56,000 homes, a decline of 11.1 percent from the month before when sales were at a rate of 63,000 homes, according to a report just released by the U.S. Commerce Department. Even though new home sales cooled off in June, the pace for June was still 5.7 percent higher than June 2014 when new home sales came in at a rate of 53,000 homes. Continue Reading →

New Home Construction In Midwest Slips In May After Spike in April

By Dennis Norman, on June 16th, 2015

New Home Construction in the Midwest declined to a seasonally adjusted annual rate of return of 104,000 homes in May after hitting a rate of 123,000 homes in April. April’s increase in activity brought the rate of new home construction to 23% above a year ago, but in May the rate fell to a point 1% below the same time last year, according to newly released date from the U.S. Commerce Department and U.S. Census Bureau.

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Characteristics Of New Homes Built In 2014

By Dennis Norman, on June 1st, 2015

There were 437,000 new homes sold (single-family) in the U.S. last year, down from a peak of 1,283,000 in 2005. Roughly ten percent of the single-family homes sold were attached homes (44,000) and the remaining ninety-percent (393,000) were detached homes, according to data just released by the U.S. Census Bureau. Continue Reading →

New Home Sales in Midwest During April Increase 20 Percent From Year Ago

By Dennis Norman, on May 26th, 2015

New home sales here in the midwest region of the U.S. occurred in April at an adjusted annual rate of 78,000 homes, an increase of 36.8 percent from the month before when new home sales activity was at the rate of 57,000 homes per year and an increase of 20 percent from April 2014 when new homes were selling at the rate of 65,000 homes a year, according to data just released by the U.S. Census Bureau and HUD. Continue Reading →

New Home Construction In Midwest Surges in April

By Dennis Norman, on May 19th, 2015

New Home Construction in the Midwest really heated up during the month of may with construction beginning during the month on new single-family homes a the annual rate of 126,000 homes, an increase of 43.2% from March and an increase of 15.6% from April 2014, according to newly released date from the U.S. Commerce Department and U.S. Census Bureau. Continue Reading →

New Home Construction In Midwest Shows Mixed Results in March

By Dennis Norman, on April 18th, 2015

New Home Construction in the Midwest showed mixed results in March with a small increase from a year ago in the number of building permits issued but a decline in the number of new homes construction began on or was completed on, according to data released this week by the U.S. Commerce Department and U.S. Census Bureau. Continue Reading →

New Home Construction In St Louis Losing Steam

By Dennis Norman, on March 17th, 2015

New home construction in St Louis has begun 2015 with a slower start than one might expect given the spring-like weather St Louis experienced during much of January and the flurry of activity we have seen thus far this year from home buyers. Permits issued in January for new homes in the St Louis Metro Area were down 7.85 percent from a year ago, according to data from the Federal Reserve Bank of St Louis. Continue Reading →

Home Building In The Midwest Begins 2015 With a Bang

By Dennis Norman, on February 19th, 2015

While the number of building permits issued for new single family homes during January 2015 in the Midwest was down 4.8 percent from January 2014, builders were busy starting construction on new homes at a pace that was 73.6 percent higher than the year before, according to the latest data from the U.S. Census Bureau.

Other highlights from the report for January 2015 for the midwest region of the U.S.:

Permits for new single family homes were issued at the seasonally adjusted annual rate of 99,000 units, down 2.0% from December and down 4.8% from January 2014. Construction commenced on Continue Reading →

New Home Construction In Midwest Finishes Out 2014 Ahead of 2013

By Dennis Norman, on January 21st, 2015

After struggling for years, new home construction in the Midwest finished out 2014 with a little more home building activity than the prior year and on a pace that makes me feel pretty optimistic about 2015 for the home building industry. Continue Reading →

St Louis New Home Sales Up Over 12 Percent In November From Year Ago

By Dennis Norman, on December 23rd, 2014

St Louis New Home Sales in November 2014 increased 12.5% from November 2013 and, as would be expected given the time of year, decreased about 8% from the month before. New home sales in St Louis out performed new home sales in the Midwest Region as a whole as the region saw 4,000 new home sales in November 2014, the same as a year ago, and a decrease of 20% from the month before, according to the latest data available from the U.S. Census Bureau and HUD.

The median price of new homes sold in November 2014 was $235,900, an Continue Reading →