{"id":1477,"date":"2017-03-01T00:00:00","date_gmt":"2017-03-01T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/why-new-homes-are-about-to-get-pricier\/"},"modified":"2017-03-01T00:00:00","modified_gmt":"2017-03-01T00:00:00","slug":"why-new-homes-are-about-to-get-pricier","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/why-new-homes-are-about-to-get-pricier\/","title":{"rendered":"Why New Homes Are About to Get Pricier"},"content":{"rendered":"

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With the cost of building materials<\/a> jumping 25 percent year over year, according to the National Association of Home Builders’ NAHB\/Wells Fargo Housing<\/a> Market Index, builders are increasingly concerned about how this will affect home buyers in the new-construction market. In 2016, builders ranked the cost of building materials low on their list of concerns\u2014but now it’s one of their top five.<\/p>\n\n

The increased cost of lumber is a chief catalyst. “Negotiations on a new softwood lumber agreement between the United States and Canada ground to a halt at the end of 2016 and likely are stalled pending the results of an investigation into unfair import practices requested by the U.S. Lumber Coalition,” the NAHB reports.<\/p>\n\n

Because of this, home buyers likely will face price hikes. According to the NAHB\/Wells Fargo Housing Market Index, builders cited the following as the 10 most significant problems they expect to face in 2017:<\/p>\n\n

  1. Cost\/availability of labor: 82%<\/li>\n\t
  2. Cost\/availability of developed lots: 67%<\/li>\n\t
  3. Impact\/hook-up\/inspection or other fees: 61%<\/li>\n\t
  4. Building material prices: 60%<\/li>\n\t
  5. Federal environmental regulations and policies: 52%<\/li>\n\t
  6. Local\/state environmental regulations and policies: 52%<\/li>\n\t
  7. Regulation of banking\/financial institutions: 48%<\/li>\n\t
  8. Development standards (parking, setbacks, etc.): 47%<\/li>\n\t
  9. Inaccurate appraisals: 46%<\/li>\n\t
  10. Health insurance<\/a>: 40%<\/li>\n<\/ol>

    Source: \u201cMaterial Costs Spike as a Menacing Builder Worry,\u201d BUILDER (Feb. 28, 2017)<\/em><\/p>\n<\/div>\n \n \n<\/pre>\n\n<\/div>\n\n\n
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     link <\/a>\n<\/p>\n","protected":false},"excerpt":{"rendered":"

    [ad_1] With the cost of building materials jumping 25 percent year over year, according to the … Why New Homes Are About to Get Pricier<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":1478,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[4751,1403,2890,12908,543,127,3833,698,41,818],"class_list":["post-1477","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-amazing","tag-buy","tag-construction","tag-home","tag-home-buying-guide","tag-homes","tag-housing-market","tag-insurance","tag-property","tag-real"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/0D5KTrMb4KI","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":7636,"url":"https:\/\/amazingproperty.com.ng\/blog\/builders-warn-materials-are-in-short-supply\/","url_meta":{"origin":1477,"position":0},"title":"Builders Warn Materials Are in Short Supply","author":"Amazing Property","date":"December 28, 2017","format":false,"excerpt":"A shortage of building materials is becoming a pressing problem for many of the nation\u2019s homebuilders. Twenty-one percent of single-family builders reported a shortage of framing lumber, according to the 2017 National Association of Home Builders\/Wells Fargo Housing Market Index. Builders also reported a shortage in ready-mix concrete and trusses.\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Builders Chart.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/Builders%20chart.jpg?fit=1046%2C1125&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/Builders%20chart.jpg?fit=1046%2C1125&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/Builders%20chart.jpg?fit=1046%2C1125&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/Builders%20chart.jpg?fit=1046%2C1125&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":3867,"url":"https:\/\/amazingproperty.com.ng\/blog\/buyers-rushing-toward-new-construction\/","url_meta":{"origin":1477,"position":1},"title":"Buyers Rushing Toward New Construction","author":"Amazing Property","date":"April 26, 2017","format":false,"excerpt":"Sales of newly built single-family homes increased for the third consecutive month, posting a strong showing to the spring selling season, the Commerce Department reported Tuesday. 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The Leading Indicator of Remodeling Activity, released by the Joint Center for Housing Studies at Harvard University, shows an annual growth in home improvement and repair expenditure this year that will remain\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5739,"url":"https:\/\/amazingproperty.com.ng\/blog\/nahb-builder-shortage-is-getting-worse\/","url_meta":{"origin":1477,"position":3},"title":"NAHB: Builder Shortage Is Getting Worse","author":"Amazing Property","date":"August 15, 2017","format":false,"excerpt":"The inventory of for-sale homes has struck a 20-year low.\u00a0And while economists and the public cry for more inventory, many builders are pressed to meet demand. A labor and subcontractor shortage in the building industry has worsened over the past year, according to the National Association of Home Builders\/Wells Fargo\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"NAHB_labor-shortages.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/NAHB_labor%20shortages.png?fit=687%2C729&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/NAHB_labor%20shortages.png?fit=687%2C729&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/NAHB_labor%20shortages.png?fit=687%2C729&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":5016,"url":"https:\/\/amazingproperty.com.ng\/blog\/teardowns-account-for-more-new-homes\/","url_meta":{"origin":1477,"position":4},"title":"Teardowns Account for More New Homes","author":"Amazing Property","date":"June 20, 2017","format":false,"excerpt":"[ad_1] More than 10 percent of new single-family homes that began construction in 2016 were part of a teardown project, according to new data from the National Association of Home Builders. That\u2019s up from 7.7 percent in 2015. NAHB\u00a0defines a teardown as a home that is built on a site\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/NAHB_Teardowns.png?fit=718%2C553&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/NAHB_Teardowns.png?fit=718%2C553&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/NAHB_Teardowns.png?fit=718%2C553&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/NAHB_Teardowns.png?fit=718%2C553&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":3016,"url":"https:\/\/amazingproperty.com.ng\/blog\/new-homes-have-gotten-pricier\/","url_meta":{"origin":1477,"position":5},"title":"New Homes Have Gotten Pricier","author":"Amazing Property","date":"April 5, 2017","format":false,"excerpt":"Over the last 10 years, the price distribution of new homes has changed significantly, as new homes have grown more expensive. Builders blame a weakness among first-time buyers and rising regulatory burdens as the reason for the shift in focus in the pricier tiers of the new-home sector following the\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/1477","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=1477"}],"version-history":[{"count":1,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/1477\/revisions"}],"predecessor-version":[{"id":89834,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/1477\/revisions\/89834"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/1478"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=1477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=1477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=1477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}