Data just out says new home sales are surging. Good news for surveyors?
> Good news for surveyors?
Could be. As long they're not working for anybody in Oklahoma with names (chosen randomly for examples only..;-) ) like "Home Creations" or "Farsani". Seriously I've seen a pickup in residential activity, especially in the last 90 days.
However, it has been a while. Hell, I've got good party chiefs that have never experienced "sub-division" work. If we're lucky, they may never!
Nice to see again the concrete trucks and flat beds loaded with lumber rolling down the highway.
Randy
> Data just out says new home sales are surging. Good news for surveyors?
In my area, I would only call it a surge in the relative sense. Right now we are running 50-60 new residential building permits a month, which certainly is better than the 30-40 per month that we have had the past number of years. But its a far sight from the 500-1000 per month we had during the boom or even the 200-250 per month before the bubble. We still have a long way to go.
I was going to post something similar
>The Commerce Department said on Tuesday sales surged 18.6 percent to a seasonally adjusted annual rate of 504,000 units. That was the highest level since May 2008, while the increase was the biggest since January 1992.
500K units brings us back to match the numbers during the worst previous recessions
I am glad to see subdivisions picking up again. It keeps the other surveyors busy and reduces competition for the work I like doing...
Sales are very sluggish in New Jersey and have been sinec the recession started.
Some developers have taken to building apartments as that market is hot. But at $1600/month for a one bedroom apartment it is mostly New Yorkers coming to NJ.
That's my logic...
"Hell, I've got good party chiefs that have never experienced "sub-division" work. If we're lucky, they may never!"
Yes that is understandable. Senior Surveyors that are incapable of leaping out of harm's in a nanosecond lest be obliterated by a renegade front end loader, or a roach coach driven by a nine year old Mexican kid with a Mohawk haircut, should refrain from "Subavision" construction activities. And leave all to me because the financial benefits are there. 😉
Cost of living is way too high in NJ. I doubt we will see a surge since we are losing population due to people going to lower tax neighboring states like PA and DE.
"the times they are a'changin.."
> ...or a roach coach driven by a nine year old Mexican kid with a Mohawk haircut...
Actually, Anjelico (Angel to all his Norte Americano friends) has grown up. He no longer drives his uncle's roach coach part-time. After a brief period in the county jail he now works the drive through at Madonnas selling BicMacs and Happy Meals. The manager does require him to wear long sleeves to cover the ink.
He too would like to see the residential housing industry pick up for obvious reasons. He and all his uncles could break out all their trowels and bull floats and get back into their family business.
According to the so called "news" here in MD, something like 47% of the folks who live in this state would love to migrate some place else.....
Grass is always greener... or should I say the Hemp is... oops... darn Californians...
(Hey if you can't laugh at yourself, sure can't laugh at others!)
The heck with the grass (the evil type that has to be cut), I for one would like to migrate where the politicians' hands aren't so deep into my wallet.....
Wait a minute! If I'm understanding you correctly, you are saying there are people actually building new houses! Where? Why? In a county of 20,000 population with something like 10,000 used houses for sale and no one moving in, its hard to picture anyone wasting money on new construction.
In my area, it seems that there are only 3 kinds of people that are buying into new construction. Those with grey hair, blue hair and no hair (along with the occasional doctor whose purpose is to service the aforementioned).
Even during the height of "the great recession", numerous town home (or row homes, attached dwelling, etc) were being tossed up at a rather fast pace in one county south from me. Housing with starting pricing close to $300k or more. In areas that truly do not need even one more car traveling the roads due to congestion.....
Haven't been by that area for some time now, but simply can not imagine who could be buying housing at that price during the worst part of a severe economic downturn (if anybody has been buying there).
> In my area, it seems that there are only 3 kinds of people that are buying into new construction. Those with grey hair, blue hair and no hair (along with the occasional doctor whose purpose is to service the aforementioned).
April new home sales data by price
I have been seeing an uptick in surveys for closings, along with one today that I surveyed in 2007. The owner said he just put out a sign and his number and within the week someone offered him what he wanted. Cash deal. Knowing that he bought in 07, before the market tanked here, I assume he is getting out for close to what he paid, so that has to be a good thing.
