Housing Continues Improvement

On August 25, 2015 the National Association of Home Builders posted this article, by David Crowe, to its Eye On Housing page.

July new homes sales rose 5.4 percent from June and 25.8 percent from July 2014, joining other improving housing market indicators. The increase brings annual new home sales to 507,000, or just over half way back to a normal year. New home sales are greatly dependent on existing home sales since three-quarters or more of new homes are purchased by existing home owners. In turn, existing home owners are becoming more willing and able to sell their homes as equity positions improve and the employment market grows and provides more security that employment will continue.

Median new home prices increased 2 percent from July 2014 and average prices increased 4.8 percent. Actual sale prices have increased because the composition of homes sold has shift away from starter or first time buyer homes and towards move-up buyers. At the same time, builders are facing higher costs for labor and lots. That trend will continue as the home building industry continues to expand and must pay higher prices for the resources needed. Material costs have remained calm as the world economy slows and demand from other markets have cooled.

New home inventories increased in July to 218,000, the highest level in more than five years (March 2010). The continued expansion of new homes for sale is another confirming sign that builders expect the sales market to continue it improvement just as they expressed in the NAHB/Wells Fargo Housing Market Index.

Inventories of existing homes however have not improved significantly for several years. More existing homes on the market will help feed the first time home buyer delayed demand as well as free up current home owners to buy a new home.

Interior Design; Mixing Finishes in Décor

By Stephanie Morrison, Morr Interiors

Design evolves and elements used in interior design over years ago are now making a comeback. One in particular is brass. However, not the sheen we’re used to seeing. Since it has evolved and I’ve mixed this finish with others in a plethora of designs, I’ve decided to share with you my thoughts, as well as another, the use of “text” in décor.

As a model home merchandiser, furnishing model homes for builders in residential communities, I have the opportunity to blend elements in rooms and leave people with a memorable impression.  When a homeowner buying into the community calls and wants to hire you for your services and says “I loved the pillow on the sofa that read R-­‐E-­‐L-­‐A-­‐X it made me feel right at home,” this resonates within you and makes you feel they’ve enjoyed the space. Some rooms don’t need to feel like a billboard. Sometimes you can peak interest in the littlest details, which is all about execution. I love the use of phrases or letters in décor. To me, it makes a space feel personal and adds charm. “Relax” “Keep Calm” or an alphabet letter as artwork that represents the homeowner’s first or last name, sends a message to our brain and makes us remember the space.

One of my personal favorites is throwing caution to the wind and diving into this trend of mixing warm metals, such as copper and rose gold, with cool ones like silver.  It’s become a very popular modern day trend. Bright gold with a sleek finish, mixed with black on light fixtures or end tables makes a retro statement. It’s not the typical brass gold finish we were used to seeing in the 80’s and replaced in the new century. As a designer, I’m no longer interested in matching every metal finish in a single room…“It’s too staged.” Adding black or silver is riskier and highly stylish.

You do have to find a way to balance the colors and once you do, I think you’ll see how warm this finish is now.