The National Home Builders Association (NAHB) is predicting a positive outlook for the real estate market. The housing and real estate market is gaining traction towards revival. With positive outlooks and growing markets, the need for more home inspections is ever increasing. With the state-of-the-art technology now available, many organizations are turning to mobile data collection devices to collect data while on the go. Mobile data collection devices not only save time, but they also save your organization money. Check out the growth of mobile data collection devices and the following evidence of the real estate growth throughout the United States provided by the National Association of Home Builders’ Association:
- 5-point gain – Home builder confidence in the real estate market for newly built, single-family homes rose to 46 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for November.
- 7th consecutive monthly gain – confidence gauge continues to rise. This is the highest point since May of 2006, according to the National Association of Home Builders’ report.
- 3.6% rise – nationwide housing production grows in the month of October, reports the U.S. Commerce Department. This National Association of Home Builders’ article additionally reports that the 3.6% increase is the highest pace of new-home construction since July of 2008.
- 594,000 units unchanged rate – Single-family housing starts in October.
- 11.9% gain – Multifamily production increases to 300,000 units – the best pace since July of 2008.
Breakdown By Regions from the National Association of Home Builders:
- West – overall housing starts rise 17.2% .
- Midwest – 8.9% growth.
- Northeast – 6.5% decline, due to storms.
- South – 2.5% decline, due to storms.
Permits Issuance (Permits can be a major predictor of future housing and building activity):
- 2.7% October decline overall permit issuance – mostly related to the apartment sector.
- 10.6% October decline in multifamily permits – after the surprisingly high September numbers.
- 2.2% October rise in single-family permits – now at 562,000 units.
“Builders are reporting increasing demand for new homes as inventories of foreclosed and distressed properties begin to shrink in markets across the country,” said Home Builders Association Chairman Barry Rutenberg, a home builder from Gainesville, Fla. “In view of the tightening supply and other improving conditions, many potential buyers who were on the fence are now motivated to move forward with a purchase in order to take advantage of today’s favorable prices and interest rates.”
“While our confidence gauge has yet to breach the 50 mark — at which point an equal number of builders view sales conditions as good versus poor — we have certainly made substantial progress since this time last year, when the HMI stood at 19,” said the Home Builders Association Chief Economist David Crowe.
Alongside the overall growth surrounding the real estate market is an increase in the need for home and apartments inspections. As more and more home inspections are being fulfilled, there are now new technologies out in the market to meet these growing demands. Mobile data collection devices are among the must-have tools for inspections.
Check out COMMAND Mobile to see how the latest software systems and mobile data collection devices can help you not only save time but money as well. With more efficient equipment such as mobile data collection devices, you and your workers now will be able to process more inspections in order to keep the work steadily coming in.