Upstate Housing Market Forecast Wrap Up

Upstate Housing Market Forecast Wrap Up

The 13th Annual Upstate Housing Market Forecast wrapped up yesterday.  More than 200 members and guests heard presentations from Keynote Speaker Matt Martin of the Federal Reserve Bank of Richmond and Featured Speaker John Hunt of MarketNsight.

Missed it?  Well you are in luck.  You can access the information from the event by downloading the material below.

Enjoy some photographs from the event and consider attending next year.

Matt Martin of the Federal Reserve Bank of Richmond

John Hunt of MarketNsight

Upstate Housing Market Forecast is February 5

Upstate Housing Market Forecast is February 5

Dr. Matthew K. Martin

Get your tickets now!

2020 is here.  Start your year off right with a forecast of the industry for the year ahead.

The Details
  • When: Wednesday, February 5
    • Housing Demographics Workshop with John Hunt of MarketnSight: 10:00 a.m.
    • Luncheon and Forecast with Dr. Matt Martin of the Richmond Fed: 11:30 a.m.
  • Location: Greenville Convention Center
  • Keynote Speaker: Dr. Matthew K. Martin, Senior Vice President and Charlotte Regional Executive, Federal Reserve Bank of Richmond

The event is hosted by the HBA of Greenville, Greater Greenville Association of Realtors, Upstate Mortgage Lenders Association, and the Greenville Chamber of Commerce.

Click here to register for the event.

Exhibit Opportunity

Tell attendees about your business by setting up a vendor table at this event for $195 and showcase your product or services to the 300+ attendees.  You can sign up using this registration link or by calling the HBA of Greenville office at 864-254-0133.

Call for Entries, Eighth Annual Bridge Awards

Call for Entries, Eighth Annual Bridge Awards

The eighth annual Bridge Awards, presented by GBS Building Supply, is set for Thursday, April 23, 2020, at the Greenville Convention Center.

2019 Bridge Awards entry form. Final

The Bridge Awards honors individuals and companies for their impact on the housing industry.

Photo by: Mark Susko (www.marksuskovisualdesign.com)

Members have many ways to engage and participate in your Home Builders Association’s signature event including entering one or more of the many categories, promoting the event, and sponsoring the event.

Enter in more than 30 categories, including:

  • Craftsmanship: New Homes, Remodeled Homes, Green Building, and Special Features
  • Sales and Marketing: Million Dollar Circle, Agent of the Year, Team of the Year, and Executive of the Year

Visit BridgeAwards.com for categories, promotional material, winners in prior years, and photography.

To purchase tickets or sponsorships, click here.

Single-Family Market Grateful for Lower Rates

By NAHB Chief Economist Robert Dietz

The single-family housing market rebound continues, largely thanks to lower mortgage interest rates. The average 30-year fixed rate is currently 3.7% — whereas, just one year ago those rates were hovering around 4.8%. Although a 110-basis-point decline may seem small compared to rate changes of years past, home buyers have become significantly more sensitive to rates since the Great Recession.

Because of the lower cost of home buying, most housing metrics have improved in recent months. The NAHB/Wells Fargo Housing Market Index, which measures builder confidence in the single-family market, climbed from a level of 60 a year ago to 70 this month. In October, single-family construction starts expanded by 2% to a 936,000 seasonally adjusted annual rate. Despite the slow start for 2019, single-family starts are down only 1% on a year-to-date basis and approaching flat conditions for 2019 as a whole. Permits for single-family homes have been expanding since April, and the pace of starts has been improving since May.

Though the NAHB Home Building Geography Index has reported relative strength in exurban and even some rural markets, custom home building in the third quarter was 6% higher than a year ago. The improvement for the single-family sector extends to the resale market as well. Existing home sales increased slightly in October and were up 5.4% from a year ago. Existing inventory declined to a 3.8-month supply, which caused resale price gains to accelerate.

While single-family conditions have improved over the last year, multifamily construction has been relatively flat. The NAHB Multifamily Production Index declined 7 points to a level of 49, slightly below the break-even threshold of 50. Multifamily starts have cooled since August and are currently registering just a slight gain for 2019 on a year-to-date basis. Quarterly data indicate that more than nine out of 10 apartments are built-for-rent, compared to the historical norm of eight out of 10.

Builder Ballot: Municipal Elections are November 5

General Election: Tuesday, November 5
City Council Elections

Polling Hours: 7 a.m. until 7 p.m.
Don’t know where to vote? Check here.
Don’t know who is on the ballot? Click here to get your sample ballot.

Election day for city councils and other municipal offices is tomorrow, Tuesday, November 5. If you are registered to vote, please plan to go to the polls. Not registered to vote? Why not?

Builder Ballot
The Political Education Committee has screened these candidates and offers these positions on their candidacies:

Greenville City Council, Mayor

  • Knox White, Republican, Incumbent, Recommended

Mayor White is running unopposed.

Greenville City Council, District 1 (seat is being vacated by Councilwoman Amy Ryberg-Doyle)

Greenville City Council, At-large

Mauldin City Council, Mayor (Non-Partisan)

The committee did not interview the other candidates in this race.

S.C. Builders PAC has contributed to the following candidates:

  • Matt Johnson (D), Greenville City Council District 1
  • George Fletcher (R)(incumbent), Greenville City Council At-Large
  • Dennis Raines (incumbent), City of Mauldin, Mayor

The Process
Your Home Builders Association has formed two Political Action Committees that raise money from our members, screen candidates, and make contributions to the campaigns of the candidates. The Political Education Committee members screen the candidates and recommend scores and campaign contributions to the Board of Directors and the PAC Trustees. Their recommendations are based on the candidates’ positions on housing-related issues (party affiliation is not a consideration).

About the Political Education Committee
The Political Education Committee membership is limited to members who have made a $250 or greater contribution to the association’s PACs.

About the PACs
South Carolina Builders PAC is a partnership between the Home Builders Association of South Carolina, Home Builders Association of Greenville, and other local HBAs in South Carolina. Its scope is local, statewide, and legislative races.

BuildPAC is a PAC organized under Federal Election Laws and managed by the National Association of Home Builders. It’s scope is Congressional races. BuildPAC does not take a position on the Presidency.