Kevin Chang Sheng Long Shares Views on Real Estate Trends

(Newswire.net — November 29, 2017) Huntington Beach, CA –The number of custom home building starts, including houses built on an owner’s property, with either the owner himself or a builder acting as the general contractor. It has reportedly increased on a year-over-year basis as of 2016’s second quarter. Based on the Census Data from the Quarterly Starts and Completions by Purpose and Design survey, there were a total of 47,000 custom starts in this year’s second quarter, compared to only 45,000 in the second quarter of 2015. Kemery Blair-Yeakel, a nationally-recognized property management expert who has plenty of experience in the real estate and finance fields, has shared her views on this trend, saying that things are currently looking good for the custom home building industry.

Per survey, there were a total of 167,000 custom single-family home construction starts over the course of the last four quarters. This definition of custom home building, however, does not already include homes that were intended for sale. As measured on a one-year moving average, the industry’s market share in terms of total single-family starts went down to 22% nationally in 2015 from a cycle high of 31.5% during the second quarter of 2009. This is lower than the time the credit crunch had limited builder’s access to AD&C (Acquisition, Development, and Construction) loans from 2008-2011 and turned production towards home building on owner’s property. To read more about Kemery’s knowledge of mortgages, visit https://peoplefiles.wordpress.com/kevin-chang-sheng-long/.

All regions of the United States, except New England and the East South Central division, saw declining market shares in custom home building in 2015. While New England registered a high market share of almost 43% and the East South Central 39%, the Western divisions only experienced less than 14%. 2016 was not a good year for custom home building, but with the recent change in trends, things could be different in 2017.

However, Kevin says that since recent declines in custom home building market shares are due to an acceleration in single-family construction, the market share for custom home building is still expected to experience both ups and downs in the following quarters as the single-family construction market expands. Nevertheless, it is likely that the recent trend will continue, as more people are opting to build custom homes instead of buying ready-made new construction. There are various reasons for this, says Blair-Yeakel, which includes the popularity of TV shows that center on home improvement, construction, renovating, interior design and decorating.