Pending home sales and the trend towards green buildings are key indicators for the real estate industry. Check out the following key facts on Pending Home Sales and read further to gain a clearer understanding of the real estate landscape and market.
- 20% – new home sales increase within the real estate industry.
- 600,000 new home sales predicted by 2013.
- Some perspective – 600,000 new home sales is double the 2011 figure of 300,000 new home sales.
- 1.2 million was the peak number of new home sales during the bubble year of 2005.
Regional Real Estate Industry Breakdown provided by the National Association of Realtors:
Within the United States – “On a regional basis, new-home sales in August soared 20 percent in the Northeast, 1.8 percent in the Midwest, and 0.9 percent in the West. New-home sales declined 4.9 percent in the South in August.”
Overall Real Estate Industry and Market Character:
Barry Rutenberg, National Association of Home Builders (NABH) chairman says, “New-home sales in August effectively tied the pace they set in the previous month, when they were the strongest we’ve seen in more than two years — so this is really a continuation of the good news we’ve been getting on the housing front.”
Another source of market forecast and outlook is from the pending home sales index. Recently, the National Association of Relators released a report about the pending home sales index. They indicated that the Pending Home Sales Index went down 2.6% in August from the July pending home sales but this number is still 10.7% above August 2011 when it was at 89.6%. Pending home sales is a key indicator within the real estate industry. The pending home sales index demonstrates the number of contracts signed in relation to the number of transactions completely fulfilled.
In addition to peaking hopes of the real estate market, there is a niche within the home and building market that has been taking off on its own – green building projects. Green building construction and improvements are growing exponentially. The United States Green Building Council created the Leadership in Energy and Environmental Design (LEED) in hopes to foster increases in the use of appropriate materials and to improve energy efficiency. As a result of the LEED formation, LEED has skyrocketed and grown into a “global phenomenon.”
Green Housing data from the American Society of Mechanical Engineers:
- 14,044 LEED-certified commercial projects
- 2 billion square feet – covered by LEED projects
- 140 countries with LEED projects
- 34,601 green projects in the works
The Architectural Records quotes Aditya Ranade, a senior analyst with Lux Research in Boston saying, “Green building is not a curiosity anymore — it’s a huge market. The green building sector will be a $280 billion global industry by the end of the decade. LEED is dominant around the world, but there are other standards. Malaysia has its own Green Building Index, and China has developed its own three-star-rating system.”
As more and more home are built, whether green buildings or not, there will be a need for mobile data collection. To help speed up the buying and selling process, as well as save money while conducting home inspections, check out COMMANDmobile to find the best tool for you and your company.