Residential Trend Report

Omaha area Housing and Market statistics

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NDizona
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Residential Trend Report

Post by NDizona »

http://www.rpapc.com/Download/NPDodgeRe ... Report.pdf

http://www.omaha.com/index.php?u_page=1 ... d=10273167
In the Omaha metropolitan area, not including any part of Iowa, building permits for single-family homes decreased about 8 percent in 2007, from 3,596 in 2006 to 3,316, according to the Metro Omaha Builders Association.
If thats true - I would be amazed.  So many builders are failing - it just has to be worse than that.
icejammer
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Re: Residential Trend Report

Post by icejammer »

NDizona wrote:If thats true - I would be amazed.  So many builders are failing - it just has to be worse than that.
Why can't it be true?  That drop is only half of what it was the previous year.  A drop of more than 25% in 2 years isn't good...
"Destiny is not a matter of chance, it is a matter of choice; it is not a thing to be waited for, it is a thing to be achieved."

--William Jennings Bryan
NDizona
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Post by NDizona »

It just feels wrong...

I wonder how they define the Omaha "Metro" if they don't include CB...

http://www.oabr.com/Portals/0/Jan08End1.htm

New Residential construction Sales
January 07 - 105
January 08 - 54

Avg marketing Time
January 07 - 95
January 08 - 177
icejammer
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Post by icejammer »

What your numbers don't show is how much in construction dollars the decline is.  It could be much steeper than 8% last year.

Also, some builders are sitting on a lot of "inventory", as it were, doesn't take much downturn in business to really eat up any profits with your fixed costs.
"Destiny is not a matter of chance, it is a matter of choice; it is not a thing to be waited for, it is a thing to be achieved."

--William Jennings Bryan
NDizona
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Post by NDizona »

icejammer wrote:What your numbers don't show is how much in construction dollars the decline is.  It could be much steeper than 8% last year.

Also, some builders are sitting on a lot of "inventory", as it were, doesn't take much downturn in business to really eat up any profits with your fixed costs.
January 07 - $30,714,923
January 08 - $16,322,179

Its ugly out there.
Erik
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Post by Erik »

I am not too concerned, January is always our very slowest month and couple that with it being a much colder and preciptating winter than usual and there you go..

You will see that those numbers aren't even nearly close enough to begin to be a shadow of what is sold from march-nov, those are by far the best months for residential sales.
NDizona
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Post by NDizona »

Erik wrote:I am not too concerned
I am guessing you are a renter that owns alot of gold.
Erik
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Post by Erik »

NDizona wrote:
Erik wrote:I am not too concerned
I am guessing you are a renter that owns alot of gold.
No, I actually have a home in far west suburbia..

Truthfully though, I don't really consider Dec-Feb numbers all too much, the number of sales and permits is usually on the miniscule level compared to most other months, especially if there has been a lot of cold/wet days, and this year has been a big year for that..

When this happens, usually it is made up for.  I usually don't start getting worried until about July/august..

Last year, though, I wasn't too concerned either about the big drop in sales/permits, mainly because it was 'the in thing to do' to have a housing market crash, and people here were just following the trends, lol...  It will pick up, seriously..
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