New data from the National Association of Home Builders shows substantial differences across the nation’s regions in the share of custom, single-family homes started in 2013. According to the findings, the Northeast and East North Central parts of the U.S. have the highest market shares.
This analysis is based off information from the 2013 Census Bureau’s Survey of Construction (SOC), which notes the difference between houses built for sale, houses built by contractors, owners and for rent.
Contractor-built or owner-built houses—which together account for the custom home market—are built for occupancy by the owner on the owner’s land. In some cases, the owner may even act as the general contractor.
When spec home starts began declining, going from 79 percent in 2005 to just under 65 percent in 2010, the opposite was happening in the custom home market, where starts increased from 20 percent in 2005 to 30 percent in 2009. Even though it has since fallen back down a little, the custom home market share has seen a lot of growth in states like New York, Rhode Island, Michigan, Ohio, Pennsylvania and several others.
Read the full article from NAHB here.
Big builder market share has doubled in the last 25 years and now represents about 50 percent of housing starts nationwide – and even 75 percent in some major metro areas. These mega-builders have huge budgets for both land development and marketing. It’s increasingly difficult for small and medium-sized builders to compete, but LP is committed to helping them prosper.Continue Reading
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