As the housing market continues to regain its footing, the local building industry celebrates a year of success with continuing confidence for 2013
Portland, OR, September 24, 2012 – According to a recent report from the National Association of Home Builders (NAHB), builder confidence continues to rise nationally with a three-point gain in September. The index is at its highest reading since June of 2006. Nationwide housing production rose 2.3 percent to a seasonally adjusted annual rate of 750,000 units in August, according to newly released figures from HUD and the U.S. Census Bureau. This increase was fueled by gains in the single-family sector, where the pace of new construction rose in every region for a combined 5.5 percent gain to 535,000 units. On a local level, year-to-date permits for the Portland Metro area are almost 3,000 – a 42% increase over 2011. While there are growing concerns about the availability of buildable lots, 1,792 new homes were sold in the Portland Metro area by the end of August. “Builders across the country are expressing a more positive outlook on current sales conditions, future sales prospects and the amount of consumer traffic they are seeing through model homes than they have in more than five years,” noted NAHB Chief Economist David Crowe.
The Home Builders Association of Metropolitan Portland (HBAMP), which is the local advocate for the building industry and home ownership, has also seen an increase in membership over the past year, which they attribute to what appears to be a steadily increasing housing market coupled with builder confidence in the Northwest. The HBAMP is one of the fastest growing home builders associations nationally, with a 9.7 percent increase in members since last year – putting them in second place for growth in the top twenty-five HBAs in the Country and vaulting them into the top ten in terms of total size. “As the economy comes back, people will be more selective about where they choose to put their dollars. I believe we have set up HBAMP to be an even better and more valuable resource to the industry and the public than we were in our peak years, prior to the economic downturn,” said HBA CEO, Dave Nielsen.
The HBAMP, which produces a number of consumer home shows and tours, including the NW Natural Street of Dreams, saw a solid up-tick in consumer attendance this year. Already at work on the 2013 Street of Dreams, builder and buyer confidence is clearly bleeding into next year, as four of the six homes confirmed for the show so far have already pre-sold, and only one site remains unsecured. The HBAMP offers builders a number of incentives for participating in the NW Natural Street of Dreams, which are then passed down to consumers, but clearly the growing market may be incentive enough.
About Home Builders Association of Metropolitan Portland
The Home Builders Association of Metropolitan Portland is the leading voice for the residential building industry, representing more than 1,000 builders, remodelers and industry professionals. Since 1942, the HBA has worked on behalf of the industry to promote diverse, affordable housing options to area residents.