Prominent Real Estate & Construction

Prominent Real Estate & Construction Custom Built Homes

Homeowners say I have one piece of furniture that needs to fit in my house. Man, is it a beauty! Huge thanks to Heavenly...
04/19/2023

Homeowners say I have one piece of furniture that needs to fit in my house. Man, is it a beauty! Huge thanks to Heavenly Homes for helping to put a smile on their face.

17 degrees on a Monday morning and framing is underway. It's never too cold for these guys!
03/20/2023

17 degrees on a Monday morning and framing is underway. It's never too cold for these guys!

Single-family housing starts increased 11.7% for 2020 Because of historically low inventory levels, single-family housin...
02/10/2021

Single-family housing starts increased 11.7% for 2020
Because of historically low inventory levels, single-family housing starts increased 11.7% for 2020 as a whole, increasing to 991,000 total builds. That number will rise further in 2021, eclipsing the 1 million level for the first time since the Great Recession. Multifamily five-plus unit starts declined a little more than 3%. However, permits for this class were down almost 11%, pointing to declines for apartment construction in 2021 before stabilizing with an improving labor market as we head into 2022.

The lack of inventory and strong demand — particularly for single-family homes in the suburbs — boosted home price growth across 2020. According to the S&P CoreLogic Case-Shiller Index, in November, homes prices were 9% higher than a year ago. Although these price gains represent a significant increase in wealth for existing home owners, such cost increases may price out prospective buyers from the market in 2021, especially as interest rates trend somewhat higher.

New home sales in the US increased +1.6% to a seasonally adjusted annual rate of 842,000 units last month, said the late...
02/02/2021

New home sales in the US increased +1.6% to a seasonally adjusted annual rate of 842,000 units last month, said the latest data released by the US Commerce Department. November’s sales pace was revised down to 829,000 units from the previously reported 841,000 units. New home sales jumped +15.2% on a year-on-year basis.
Sales totaled 811,000 in 2020, up +19% over 2019’s 683,000.

Closed sales of existing homes in December, meanwhile, increased just +0.7% from November to a seasonally adjusted annualized rate of 6.76 million units, according to the National Association of Realtors. Sales were +22% stronger than in December 2019.
At the end of December, inventory stood at just 1.07 million homes for sale, down -23% year over year. At the current sales place, that represents a 1.9-month supply. That is the lowest number of homes on the market since the Realtors began tracking this metric in 1982.
For all of 2020, US existing home sales rose to 6.48 million, the highest total since 2006. That represented a +5.6% gain from the 5.34 million previously owned homes sold in 2019.
The median sales price of an existing home was US$309,800 in December, up +13% from a year ago. For December, sales of single-family existing homes rose +0.7% to a rate of 6.03 million while sales of condominiums were up +1.4% to 730,000.

Back to new homes, purchases of new single-family houses increased +1.6% to an 842,000 annualized pace in December from a downwardly revised 829,000 rate in the prior month.
The median new house price surged +8% to US$355,900 in December from a year ago.

There were 302,000 new homes on the market last month, up from 290,000 in November. At December’s sales pace it would take 4.3 months to clear the supply of houses on the market, up from 4.2 months in November. It took just 21 days on average to sell a home in December.

“It is unusual, because every year during the holiday season we would see days on market increase, but not this year,” said Lawrence Yun.

CHIEF ECONOMIST FOR THE NATIONAL ASSOCIATION OF REALTORS

01/31/2021

Enjoy this "sneak peak" of a home we just finished. These were her ideas...and at Prominent..."We turn your ideas into a place called home."

Housing’s Outlook for 2021Single-family builder sentiment fell back to a level of 86 in December, according to the NAHB/...
01/25/2021

Housing’s Outlook for 2021

Single-family builder sentiment fell back to a level of 86 in December, according to the NAHB/Wells Fargo Housing Market Index (HMI), after achieving an all-time high of 90 in November. The dip was due to growing concerns over housing affordability in 2021. However, December’s HMI was still the second highest on record. Read More:
http://nahbnow.com/2020/12/housings-outlook-for-2021/

Inspiring More Women to Join the Building TradesAccording to a recent NAHB report on the state of women in construction,...
01/22/2021

Inspiring More Women to Join the Building Trades

According to a recent NAHB report on the state of women in construction, there is good news. The number of women employed in the construction industry grew substantially last year, rising to around 1.2 million and surpassing the peak of pre-recession employment levels. Training new workers is an important goal of the industry as the skilled labor shortage remains a key challenge in the industry’s ability to lead the way out of the economic downturn caused by COVID-19. And women can help make up a good portion of those numbers. Read more at:
https://nahbnow.com/2020/09/inspiring-more-women-to-join-the-building-trades/

Affordability and Lack of Supply Put a Dent in New Home SalesNew home sales dipped in November, but remained at a solid ...
01/19/2021

Affordability and Lack of Supply Put a Dent in New Home Sales

New home sales dipped in November, but remained at a solid level as builders struggled to meet demand and gain access to building materials.

Sales of newly built, single-family homes in November fell 11% to an 841,000 seasonally adjusted annual rate, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Despite the monthly decline, the November rate is 20.8% higher than a year ago.

“Though the market remains strong, the pace of sales pulled back in November as inventory remains low and affordability concerns persist as builders grapple with a shortage of lots, labor and building materials,” said NAHB Chairman Chuck Fowke.

“The home building industry saw a historic gap between the pace of new home sales and construction of for-sale single-family housing this fall,” said NAHB Chief Economist Robert Dietz. “As a result, the pace of new home sales was expected to slow to allow construction to catch up. This appears to have occurred in November as inventory of completed, ready to occupy new homes was down 43% compared to November 2019 at just 43,000 homes nationwide.”

A new home sale occurs when a sales contract is signed or a deposit is accepted. The home can be in any stage of construction: not yet started, under construction or completed. In addition to adjusting for seasonal effects, the November reading of 841,000 units is the number of homes that would sell if this pace continued for the next 12 months.

Inventory rose slightly to a 4.1 months’ supply, with 286,000 new single-family homes for sale, 11.2% lower than November 2019. Of the inventory total, just 43,000 are completed, ready to occupy. The median sales price was $335,300. The median price of a new home sale a year earlier was $328,000.

Regionally, on a year-to-date basis new home sales were up in all four regions: 28.2% in the Northeast, 24% in the Midwest, 16.9% in the South, and 20.5% in the West.
http://nahbnow.com/2020/12/affordability-and-lack-of-supply-put-a-dent-in-new-home-sales/

These guys are great! They come to work every single day from daylight to dark, and never a complaint. Daylight provided...
10/08/2020

These guys are great! They come to work every single day from daylight to dark, and never a complaint. Daylight provided by IMI at 6:50 a.m., and an excellent finish by Superior Concrete. Makes coming to work easy.

This was the view of the treetops that was posted when the foundation was complete. Now the family who purchased this ho...
10/05/2020

This was the view of the treetops that was posted when the foundation was complete. Now the family who purchased this home have an awesome view to wake up to every morning.

Who would've ever guessed Stamping Ground would be such a popular spot? Big thanks to IMI, Prime Time Pumping, & Superio...
08/06/2020

Who would've ever guessed Stamping Ground would be such a popular spot? Big thanks to IMI, Prime Time Pumping, & Superior Concrete!

Address

2602 Fishers Mill Road
Midway, KY
40347

Opening Hours

Monday 8am - 6pm
Tuesday 8am - 6pm
Wednesday 8am - 6pm
Thursday 8am - 6pm
Friday 8am - 6pm

Telephone

+18599834903

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