{"id":5016,"date":"2017-06-20T00:00:00","date_gmt":"2017-06-20T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/teardowns-account-for-more-new-homes\/"},"modified":"2017-06-20T00:00:00","modified_gmt":"2017-06-20T00:00:00","slug":"teardowns-account-for-more-new-homes","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/teardowns-account-for-more-new-homes\/","title":{"rendered":"Teardowns Account for More New Homes"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div readability=\"37.046144859813\">\n<!--\n\n<pre>-->  <\/p>\n<div property=\"dc:description\" readability=\"23.782710280374\"><!--paging_filter--><\/p>\n<p>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<span style=\"font-size: 14.4px;\">\u00a0defines a teardown as a home that is built on a site where a previous structure\u00a0existed. Nationwide, there were\u00a079,300 single-family teardowns started in 2016, up from 55,200 in 2015, NAHB estimates.<\/span><\/p>\n<p>Builders continue to\u00a0cite lot shortages as a major setback to new-home construction. Home shoppers and builders are now eyeing teardowns because many of the properties are in prime locations. Take a look at the chart below to see the breakdown of teardown starts by region.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" alt=\"\" src=\"https:\/\/i0.wp.com\/realtormag.realtor.org\/sites\/realtormag.realtor.org\/files\/rmo_files\/images\/2017_jun\/NAHB_Teardowns.png\" style=\"width: 620px; height: 478px;\"\/><\/p>\n<p><em>Source: \u201cNAHB Estimates 79,000 Single-Family Tear-Down Starts in 2016,\u201d National Association of Home Builder\u2019s Eye on <a href=\"https:\/\/amazingproperty.com.ng\/blog\/property-center-nigeria\/\">Housing<\/a> blog (June 19, 2017)<\/em><\/p>\n<\/div>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a hre=\"http:\/\/feedproxy.google.com\/~r\/DailyRealEstateNews\/~3\/tsNv2wSJi0I\/teardowns-account-for-more-new-homes\"> Realtors.org <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] More than 10 percent of new single-family homes that began construction in 2016 were part &hellip; <a title=\"Teardowns Account for More New Homes\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/teardowns-account-for-more-new-homes\/\"><span class=\"screen-reader-text\">Teardowns Account for More New Homes<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":5017,"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":[2890,12908,543,127,3058,41,818,479],"class_list":["post-5016","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-construction","tag-home","tag-home-buying-guide","tag-homes","tag-location","tag-property","tag-real","tag-realtor"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/NAHB_Teardowns.png?fit=718%2C553&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1477,"url":"https:\/\/amazingproperty.com.ng\/blog\/why-new-homes-are-about-to-get-pricier\/","url_meta":{"origin":5016,"position":0},"title":"Why New Homes Are About to Get Pricier","author":"Amazing Property","date":"March 1, 2017","format":false,"excerpt":"[ad_1] With the cost of building materials jumping 25 percent year over year, according to the National Association of Home Builders' NAHB\/Wells Fargo Housing 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\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","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":3867,"url":"https:\/\/amazingproperty.com.ng\/blog\/buyers-rushing-toward-new-construction\/","url_meta":{"origin":5016,"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. Single-family new-home sales rose 5.8 percent in March to a seasonally adjusted annual rate of 621,000 units. \u201cThe March sales numbers are the second\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","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":5016,"position":2},"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 &quot;Opportunities In New Markets&quot;","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":7950,"url":"https:\/\/amazingproperty.com.ng\/blog\/cash-sales-soar-to-post-recession-high\/","url_meta":{"origin":5016,"position":3},"title":"Cash Sales Soar to Post-Recession High","author":"Amazing Property","date":"January 29, 2018","format":false,"excerpt":"Cash sales accounted for 8 percent of new-home sales in the fourth quarter of 2017, matching a high that has not been seen since 2014, the National Association of Home Builders reports on its Eye on Housing blog. Cash sales make up an even larger share of existing-home sales\u2014about 20\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Nahb Chart.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/NAHB_chart.png?fit=611%2C344&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/NAHB_chart.png?fit=611%2C344&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/NAHB_chart.png?fit=611%2C344&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":6640,"url":"https:\/\/amazingproperty.com.ng\/blog\/lot-prices-in-midwest-hit-record-high\/","url_meta":{"origin":5016,"position":4},"title":"Lot Prices in Midwest Hit Record High","author":"Amazing Property","date":"October 16, 2017","format":false,"excerpt":"Builders are paying more for new-home lots, and those expenses will be passed on to home buyers. Single-family lot prices remained at record levels last year, with half costing $45,000 or more, according to a National Association of Home Builders analysis of Census Bureau data. It\u2019s the second consecutive year\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Median Lot Prices Nahb.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Median%20lot%20prices_NAHB.png?fit=733%2C533&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Median%20lot%20prices_NAHB.png?fit=733%2C533&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Median%20lot%20prices_NAHB.png?fit=733%2C533&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Median%20lot%20prices_NAHB.png?fit=733%2C533&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":1383,"url":"https:\/\/amazingproperty.com.ng\/blog\/buyers-are-being-drawn-to-new-homes\/","url_meta":{"origin":5016,"position":5},"title":"Buyers Are Being Drawn to New Homes","author":"Amazing Property","date":"February 27, 2017","format":false,"excerpt":"[ad_1] Sales of newly built, single-family homes increased 3.7 percent last month, reaching a seasonally adjusted annual rate of 555,000 units, the Commerce Department reports. \"We can expect further growth in new home sales throughout the year, spurred on by employment gains and a rise in household formations,\" says Robert\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","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\/02\/fb_reg_new_jan17.png?fit=600%2C222&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/fb_reg_new_jan17.png?fit=600%2C222&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/fb_reg_new_jan17.png?fit=600%2C222&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/5016","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=5016"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/5016\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/5017"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=5016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=5016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=5016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}