Builder Confidence in St. Tammany Parish

For 30 years, the National Association of Home Builders (NAHB) and Wells Fargo has been measuring builder confidence based on 3 factors of new home building – current new home sales, projected new home sales, & new home buyer traffic.  The survey is called the Housing Market Index (HMI), and builders nationwide are selected and surveyed by the NAHB each month.  The result is a gauge of how confident builders are in the housing market and the future of the housing market.  Post Recession, these numbers stayed low for many months, even years, but in the past 2.5 years, builder confidence has been up.

Nowhere is that more evident in our own backyard than at Bedico Creek Preserve, a master planned, Conservation Community in Madisonville, Louisiana, in St. Tammany Parish.  Builder confidence in St. Tammany Parish is definitely up in our community.  We have had a record high amount of 18 builders all building new homes in our subdivision at one time.  Currently, we have a list of 16 qualified and quality new home builders that offer lots to be built, as well as new homes for sale in the 9 available neighborhoods within our new home community in Southeast Louisiana.

Two of our Neighborhoods focus solely on the new homes built by exclusive builders that have purchased the lots in the neighborhoods to build established floorplans to maintain an inventory of new spec homes for sale.  These two neighborhoods are Cypress Crossing and Deer Park.  Other builders have individual Homes for Sale that are located throughout the other 7 Neighborhoods.
Builder confidence nationwide in January had a score of 60.  Any score above 50 is considered optimism from new home builders.  Broken down, the builder confidence rating scored as follows: current sales conditions rose two points to 67, projected sales conditions dropped three points to 63, and current buyer traffic came in at 44.  In St. Tammany Parish, the new homes at Bedico Creek have been selling as fast as builders have been framing them.  Many of our new homes for sale are available on our website for just weeks before they are under contract.  If you are interested in living at our new home subdivision, you may want to meet with one of our 16 builders to discuss purchasing a lot in your selected Neighborhood and then building a new home for you and your family.

Contact Us Today to Make an Appointment to View Our Lots at 985-845-4200 or E-mail Info@LiveBedico.com.

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Available Construction Jobs on the Rise

Well over half a million builders are getting ramped up with the renewal of the real estate market nationwide and are very much now hiring employees as the number of open construction jobs increased in May.  In fact, the number of available construction jobs in the United States has been on the rise since 2012 along with the constant increase of new home sales and new home inventory.  May’s employment increase logged in as one of the 4 highest months of increases since 2012.

Almost 1.8 million contractors, sub-contractors, and trade companies also made up the number of businesses employed in the home building / remodeling categories of the total U.S. employment in June, 2015, bringing the total number of construction employed jobs to 2.442 million.  Now that new homes are being built on lots developed for sale in more and more numbers, the construction industry has gained almost a half a million jobs since the low point of the Great Recession.

In 2015 alone, approximately 127,000 jobs have been added in the U.S. nationwide.  In fact, since hitting the ceiling during 2010, the unemployment rate for builders and construction has dropped from 22% unemployed to 7% slightly higher than the national unemployment rate.  In fact, many builders are facing a shortage in employees as they try to build new homes for the buyer demand as quickly as possible in new home communities that once stood dormant during the Recession.  This increase in demand for construction employment has only been a boon for the real estate industry’s recovery overall.

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Builders Are Enthusiastic With the Upturn in the Housing Market

Builders are enthusiastic with the upturn in the housing market and are seeing more new home buyers as the economy rises. The stronger job market caused by the addition of 3 million jobs in the U.S. has encouraged more people to become new homeowners. In fact, nationwide single-family homes sold for close to full asking price!
After a low sales report in March due to the harsh winter weather, it is encouraging to see an increase in standing inventory of new homes and new homes under construction. According to the current data release from HUD and the U.S. Census Bureau newly built home sales rose 6.8% in April. Regionally, new homes sales increased by 5.8% in the southern region. The new homes sales pace is expected to raise the amount of new homes for sale on the market creating a 4.8 month supply of new home inventory which is crucial to the housing market recovery.

“Sales are moving forward and our builder members are telling us they are starting to see more activity as more buyers get off the fence and enter the marketplace,” said NAHB Chairman Tom Woods.

At Bedico Creek Preserve, our master planned development in St. Tammany Parish had much to celebrate during the 1^st four months of 2015 achieving 22 new home sales for a total gross sales volume amount of $7,671,150. Bedico Creek, a collection of neighborhoods inside of a Conservation Community, offers a variety of new homes in a selection of price ranges both for lots for sale as well as new homes for sale. In one of our exclusive neighborhoods, one of our top St. Tammany Parish builders sold a Spec Home for a record sales price of $1,025,000 which comes out to $241 / per square foot.
In addition to the high volume of new home sales in 2015, Bedico Creek Preserve also had a phenomenal sales volume of $250,000 in lot sales in the first 4 months of the year. To keep pace with the increasing demand for local home buyers in the Greater New Orleans area, Bedico Creek Preserve opened two exclusive new home neighborhoods – Cypress Crossing and Deer Park – and the subdivision now offers lots for sale in Lakeveiw Neighborhood and Heron Point Neighborhood as well. Site plan (plat) approvals for new future Neighborhoods are also currently underway.

If you are in the market for a new home or considering purchasing a new home, Visit Bedico Creek Preserve today to discover our new homes for sale or learn more about building a new, custom home on one of our quickly selling lots! Contact Us Directly at 985-845-4200 or E-mail Info@LiveBedico.com.


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