Monday, December 18, 2017

Home Builder Confidence Index Hit Highest Level Since 1999

The HMI the Housing Market Index (HMI) is based on a monthly survey of NAHB members (National Association of Home Builders). It is designed to take an overall view of the single-family housing market. The homebuilders are ask survey questions to rate market conditions for the sale of new homes from today to six month. It also takes in to account buyer traffic for new homes. This is not a report on previously built homes. That number jumped in December 2017. It jumped five points to 74. Again, the highest reading since 1999, and a number above 50 is positive while below is a negative reading. The sentiment number a year ago was 69. Strangely, the NAHB are not in favor of the Republican tax plan, because of the mortgage interest rate deduction is reduced in this plan. CNBC reported recently on this that buyer traffic jumped eight points to 58, while current sales conditions moved up four points to 81, and the expectation of sales for the next six months increase by 3 to 79. What does this say for home builders in Lancaster and Palmdale? Well we reported a number of TTM’s (Tentative Tract Maps) have been extended for another year, so these land owners are hoping the housing developers will break ground and build more home in the valley. If the US pushes forward on the new Stealth Bomber at Planet 42 then new homes will certainly be needed for this engineering group moving in. This should also be good for land sales, and the future looks like somebody is going to dig holes as apposed to leaving parcels flat.

Monday, December 11, 2017

A number of TTM (tentative tract maps) Given Extensions on Residential Zoned Land

Several housing development plans have recently been approved for extensions of tract maps, a 20 acres plot of R-7000 zoned parcels at 67th West at J-8. They are setting up to build 109 single family homes here. Almost 30 acres at 30th East at K was approved for 45 single family homes zoned R-10,000, and 10 acres of 30th East at Nugent zoned R-7000 was also approved for a TTM extension for 39 single family homes. A 10 acre parcel at Lancaster Blvd I-8 at 30th East was approved for 25 single family homes. Along with 32 acres at 15th East at H-8 approving a subdivision of 126 single family homes zoned R-7000 with a 1 year extension. Also recently approved was 41 single family homes on 9.4 acres of R-7000 zoned land for a tentative track map with a one year extension. A 72 acre plot at 52nd West at K-8 was approved, and not to be out done a 30 acre plot of R-7000 zoned parcels was approved at 37th East at I-8 (Lancaster Blvd.) 15 acres at 15th West at K targeting 58 single family homes was granted an extension of a year with another 28 acres at 35th East at J with a TTM approved for 114 single family homes on R-7000 land was extended for two years. The activity and sanctioning of building land is progressing in Lancaster with these recent extensions