January 2010 Number Crunch for Home Builders

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Professional Builder magazine's provides a snapshot of statistics related to the home building industry.

January 01, 2010

8.6 The percentage by which the overall housing market is currently undervalued, according to IHS Global. There isn't a single U.S. metropolitan area where houses are “extremely overvalued,” and just a handful of markets remain “moderately overvalued.”
4.2 The number of homes (in millions) that are estimated to be heading into foreclosure in 2010, according to Credit Suisse. Approximately three-quarters of the foreclosures (3.2 million) need to be prevented to stabilize the housing market.
12 The percent of mortgages exceeding $1 million that were 90 days or more overdue in September, according to First American CoreLogic. The data shows that luxury homeowners are defaulting at almost twice the U.S. average rate.
33 The percent of all real estate transactions in November that involved distressed properties, according to a National Association of Realtors survey of 3,161 real estate agents.
57 The percent of home builders that are planning for increased revenue in 2010 compared to 2009, according to a national survey by John Burns Real Estate Consulting.
59 The percent of homeowners with a siding preference that said they would choose brick over vinyl, stucco or fiber cement/composite for their homes, according to a survey by Harris Interactive on behalf of Boral Bricks.
17.2 The projected percent drop in housing value in Manhattan in 2010, according to a report from Housing Predictor. Manhattan is expected to experience the largest value deflation this year, followed by Las Vegas (-15.4 percent), Providence, R.I. (–13.8 percent), Miami (–13.8 percent) and Newport, R.I. (–13.6 percent).
1,000,000 The number of Energy Star-qualified homes in the U.S. as of November 10, 2009, according to the U.S. Environmental Protection Agency.

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