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Published: Friday, January 2, 2015 at 5:30 a.m. Last Modified: Friday, January 2, 2015 at 7:38 a.m.
Just like it did in 2014.
We saw significant growth in 2012 and more in 2013. In 2014, we had quieter, nominal gains, but its sustainable, said Matt Wilson, a broker associate with Coquina Real Estate and Construction in Flagler Beach.
I expect things to stay the course, said Wilson, 2015 president of the Flagler County Association of Realtors. Its a market we can live with. Were not having the wild rides up and painful falls (of the past).
Permits for new homes locally plunged in 2011, falling to less than 1/12th the total in 2005.
New home construction in the Volusia-Flagler area picked up in 2012, with a 51 percent gain in permits issued. That accelerated in 2013 with a 70 percent increase.
In the first 11 months of 2014, 1,599 permits for new homes were issued in the two counties, a 7.3 percent gain over the same period the previous year.
But as much as new home construction activity has increased, it remains well below the 2005 peak when Volusia-Flagler area builders pulled 8,403 permits.
Sandy Burke Bishop, executive director of the Volusia Building Industry Association, expects growth in the New Year to be at about the same rate as in 2014.
Were not looking at a blazing, crackling fire, but 2015 should be steadily, although slowly, improving, Bishop said. We are happy with the goal of a sustainable pace.
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Builders, Realtors expect steady recovery to continue Modest gains forecast for area housing starts, home sales
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DALLAS (CBS 11 NEWS) - Too few people to build too many homes. The housing market continues to boom in North Texas, but builders have seen a severe shortage of skilled and unskilledworkers in the last couple of years.
Many blame the oil and gas industry for offering higher pay opportunities that home builders cant meet.
But with oil hitting a five year low, the concern now turns to job loss and the potential economic slow down in Texas, where 15 percent of the economy is tied to energy.
Bud Weinstein is the Associate Director of the Maguire Energy Institute at SMUs Cox School of Business. He thinks if prices stay in the $55-$60 a barrel range, the Texas housing market could see an impact in the next six months, especially in Houston or Midland-Odessa, where the local economies are closely tied to oil.
However, Weinstein says its less likely North Texass housing market will take a hit. Corporate relocations and other industries are helping grow the DFW area.
As Vice President of the Texas Association of Home Builders, Tim Jackson sees a positive result of the oil slow down: the potential for laborers lost to oil jobs to return to home building.
Danny White, a construction manager for Tim Jackson Custom Homes, explains:
If we had more labor, we could build the houses quicker. Right now were having about a 20 percent delay in the time it takes to build a house. Our workers are so busy, and its hard finding people to do the jobs, White said.
Jackson estimates thousands of labors have relocated from home construction to work in the oil field.
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Dropping Oil Prices Could Help Home Labor Shortage