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National Housing Market Remains Steady in April

Categories: Home Buying Tips, In The News | Posted: April 17, 2013

National Association of Home Builders logo According to the NAHB, otherwise known as the National Association of Home Builders, April is the seventh straight month of housing market stabilization nationwide.  The NAHB releases their Improving Markets Index (IMI) report early each month for review and to announce the housing market’s general health trend to home builders.  Interestingly enough, the IMI indicates a near rock-steady presence of housing markets that have already made enough gains to be included on the list.  This month, the metropolitan areas of Portland, Maine; Macon, Georgia; Jackson, Tennessee, Eugene, Oregon; and Rocky Mount, North Carolina have all been added to the national report, bringing the total number of cities to 273 – representing 75% of the country.  Never fear, both Raleigh and Fayetteville have been a part of this list for quite some time!

This is especially exciting because while there was strong and frequently exponential growth through the end of 2012 and earlier this year, it was expected to start slowing down just a little bit.  However, it’s remaining at a higher level than anyone could have readily predicted.  David Crowe, the Chief Economist of the NAHB is confident that gains will continue to be seen in the overall housing market, although they’ll be much more gradual “as challenges related to the increased demand kick in – including everything from tightened supplies tof developmental lots and labor to the rising cost of building materials.”

To even be considered for inclusion on the IMI, metropolitan areas must be displaying real, positive growth in three areas which are then submitted for analysis.  This includes employment growth trends according to the Bureau of Labor Statistics, Freddie Mac’s numbers on house price appreciation in the area, and the U.S. Census Bureau must weigh in on the growth of single-family housing permits.  While this may sound awfully cumbersome, it’s been an excellent standard by which to measure real progress over time, rather than more misleading seasonal peaks and valleys.

NAHB Chairman Rick Judson is also encouraged by the stability reflected in the report “with three quarters of all metros tracked by our index considered on the upswing as the housing recovery spreads to parts of every state.  In some markets, the main thing that’s holding back a recovery is a relatively thin inventory of homes for sale, which could be resolved if builders had easier access to credit for building homes and putting people back to work.”

As you may remember, Royal Oaks has invested in the development of Grays Creek, which we hope will generate more local interest in the area as well as providing plenty of available lots upon which to build beautiful new homes and a high quality community to boot.

Royal Oaks Building Group is a new home builder in Raleigh and Fayetteville, North Carolina. For further information, please call (888) 677-1502.

Chandler’s Ridge Takes Home Silver in Parade of Homes!

Categories: In The News | Posted: April 11, 2013

If you checked out the Magnolia Floor Plan in Chandler’s Ridge this past weekend then you saw the SILVER-winning home for Category 3 in the Johnston County Parade of Homes!  This fairly new development did amazing during the judging session and received Silver in Category 3! Categories were based on price points and category 3 encompassed $207,700 which is the base price for the Magnolia in Chandler’s Ridge.

The Magnolia floor plan , which is located at 288 Sugarberry Lane in Chandler’s Ridge, is a 1 1/2 story plan and includes optional trey ceiling in the dining room, cathedral ceilings and a finished 2nd floor with bonus, bedroom and bath. This is a great floor plan for a new family or empty-nesters! The home has a very open floor plan with space to entertain guests of parties of both large and small! The floor plan also comes with Royal Oaks’ standard included features such as granite countertops, tile backsplash and stainless steel appliances!

The awards took place on Tuesday, April 9th at the Preston Woodall House located at 201 East Hill Street in Benson, NC. The venue, which normally operates as a bed and breakfast, was perfect for the event! It turned out to be a very elegant affair with a happy hour sponsored by Tina Barletta and her team followed by dinner and then the awards ceremony! Sponsors for the event included KS Bank (Corporate Sponsor), PrimeLending (Corporate) Hicks Landscape Contractors and H Squared Home Design. Flowers Plantation sponsored the Judges’ Luncheon and Deacon Jones provided vehicles for driving the judges to each house. President of the Parade this year was Brandon Shipwash started the ceremony off with a warm welcome and thank you to everyone involved in making the Parade such a success this year. He was followed by co-chairs Tracy Riba and Heather Hall who presented awards to each winner! Other category winners for Category #3 were Golden Properties & Development (Gold winner) and ForeverHome (Bronze winner).

Open House dates for the Johnston County Parade of Homes are April 13 & 14, April 20 & 21, and April 27 & 28. Saturday hours are 10 am -6 pm and Sunday hours are 1 pm-6 pm.

Chandler’s Ridge wins Silver in Category #3!

Royal Oaks Building Group is a new home builder in Raleigh and Fayetteville, North Carolina. For further information, please call (888) 677-1502.

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