Latest news with #Zonda
Yahoo
08-05-2025
- Business
- Yahoo
SINGLE-FAMILY LOT SUPPLY LOOSENING IN MORE MARKETS
Up for the Third Consecutive Quarter; Highest Level in Five Years NEWPORT BEACH, Calif., May 8, 2025 /PRNewswire/ -- Zonda's New Home Lot Supply Index (LSI) for 1Q25 showed lot supply loosened, both year-over-year and quarter-over-quarter across the United States, notching the third consecutive increase from previous quarters. The index is a residential real estate indicator based on the number of single-family vacant developed lots and the rate at which those lots are absorbed via housing starts. The New Home LSI came in at 64.3 for 1Q25, representing a 12.1% increase from 1Q24. The 1Q25 data shows a "significantly undersupplied" market nationally. The market has been "significantly undersupplied" since 2017. On a quarter-over-quarter basis, supply increased by 5.7% from 4Q24. The LSI counts the total vacant developed lot supply and adjusts for overall starts activity. "Today's housing market is shaped by the intersection of politics, economics, affordability, and consumer sentiment," said Ali Wolf, chief economist for Zonda and NewHomeSource. "The resulting impact is a choppy market, and mixed messages on the lot supply front. Zonda's LSI in the first quarter came in at the highest level in five years thanks to slower housing starts and more cautious consumers but remained significantly undersupplied." Total upcoming lots (delivery over the next 12-18 months) for 1Q25 increased 4.7% year-over-year, and were up 6.5% from last quarter. Additionally, they were up 26.3% compared to the same quarter in 2019. "There has been a lot of money invested in land and lot development in recent years, and we are seeing the fruit of that labor show up in total upcoming lots," said Wolf. "The big question now is how aggressive builders will be in the shifting market with housing starts, new community openings, and their land acquisition plans." See the full insights and analysis on Zonda's us at upcoming Zonda events including Future Place, Oct. 27-29 and Multifamily Executive Conference, Nov. 4-6. About ZondaZonda provides data-driven housing market solutions to the homebuilding industry. From builders to building product manufacturers, mortgage clients, and multifamily executives, we work hand-in-hand with our customers to streamline access to housing data to empower smarter decisions. As a leading brand in residential construction, our mission is to advance the home building industry, because we believe better homes mean better lives and stronger communities. Together, we are building the future of housing. About NewHomeSource (NHS) is America's #1 source for consumers as they search for new construction communities and homes. NewHomeSource also has the most extensive collection of ratings and reviews for homebuilders nationwide. As the only independent source of reviews from verified homebuyers, TrustBuilder delivers the honest insights you need to make decisions with confidence. For media inquiries or to schedule an interview with Chief Economist Ali Wolf:Contact: Diane BeginEmail: pr@ 224-836-5615 View original content to download multimedia: SOURCE NewHomeSource powered by Zonda
Yahoo
08-05-2025
- Business
- Yahoo
HOMEBUYERS: New Construction Increasingly a More Cost-Effective Choice
As New Home Market Conditions Stay Near Average, Consumers Stand to Benefit DANA POINT, Calif., May 8, 2025 /PRNewswire/ -- The Builder 100 – Zonda's 37th annual gathering of top U.S. builders wrapped up yesterday. As a unique national provider tracking the entire building cycle, the event covers critical industry topics such as the state of the current housing market. Zonda chief economist Ali Wolf — whose role has recently expanded to chief economist for — offered some 'back to the basics' advice on what we'll see from consumers in the coming year in a presentation this week titled 'Economic Outlook for Housing.' "While consumers remain very concerned about the economy and whether we'll enter a recession, for those who have the means to make a move, they stand to see an increased benefit in the type of home they can secure for themselves," says Ali Wolf chief economist for Zonda and NewHomeSource. "Because of market uncertainty, new home prices were down from peak in every one of the 50 markets we track, and 35% of builders reported lowering prices in April," Wolf adds. "If a consumer is looking to buy this year, the case for a new home is growing." The price spread between buying a new construction home versus buying an existing home has narrowed (partly because of changing product). Because of an aged housing stock, new construction allows consumers to minimize unforeseen renovation problems. Builders are also increasingly offering more incentives, making it even more attractive to buy new. Through new construction, consumers can also customize and design their homes to fit their lives. Finally, new home buyers benefit from reduced insurance costs. The nation's largest builders were recently unveiled as part of the Builder 100 and Next 100 lists, including focuses on specific consumer segments: Entry Level, Move Up, Affordable⁄Subsized; and, Active Adult (55+) construction. Visit NewHomeSource for more on: How to Choose Between New Construction and Resale Homes A Step-by-Step Guide to the Home Building Process TrustBuilder Reviews: Home Builder Reviews from Real Homebuyers Also see from Builder 100: TARIFF TALK: Homebuyer and Remodeling Price Sensitivity in 2025 RENTERS: The Growing Influencers in the Building Community Dream Finders Homes Wins the 2025 Builder of the Year Award Lennar Foundation Honored with 26th Annual Hearthstone Builder Humanitarian Award Introducing the 2025 Virtual Concept Home Designed by Ashton Woods Homes About NewHomeSource (NHS) is America's #1 source for consumers as they search for new construction communities and homes. NewHomeSource also has the most extensive collection of ratings and reviews for homebuilders nationwide. As the only independent source of reviews from verified homebuyers, TrustBuilder delivers the honest insights you need to make decisions with confidence. About ZondaZonda provides data-driven housing market solutions to the homebuilding industry. From builders to building product manufacturers, mortgage clients, and multifamily executives, we work hand-in-hand with our customers to streamline access to housing data to empower smarter decisions. As a leading brand in residential construction, our mission is to advance the home building industry, because we believe better homes mean better lives and stronger communities. Together, we are building the future of housing. About BUILDERBUILDER is the No. 1 resource—via its award-winning journalism and industry events—for anyone involved in new-home construction. Primarily focused on the single-family sector, BUILDER strives to help home builders manage their operations, large and small, more efficiently and profitably. Residential construction pros turn to BUILDER for housing-related news, market analysis, design trends, M&A deals, building product coverage, and more. For media inquiries or to schedule an interview with Chief Economist Ali Wolf:Contact: Diane BeginEmail: pr@ 224-836-5615 View original content to download multimedia: SOURCE NewHomeSource powered by Zonda Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
08-05-2025
- Business
- Miami Herald
Is Las Vegas becoming Los Angeles 2.0?
By 2021, as the COVID-19 pandemic swept across the globe, Las Vegas-based luxury real estate broker Ivan Sher started noticing a distinct migration pattern from California's affluent neighborhoods to Las Vegas. "What I think pushed people over the edge" in California was government mandates that impacted them and their children in school, he said. "When you lose your options and things get mandated by the state, it becomes less enticing to be there no matter how beautiful it is." Sher said anecdotally pre-COVID about 20 percent of his clients were from California, but that number jumped to around 80 percent during the tail end of the pandemic. Now roughly 60 percent of his clients are from California, he said. Earlier in the year, Zonda ranked the Las Vegas Valley as the eighth-hottest market for luxury homebuyers, beating out such cities as Los Angeles and Boston. The top spot for high-end buyers to start 2025 was Charleston, South Carolina. The influx of wealthy Californians drawn by a tax friendly, pro-business and less regulatory and bureaucratic environment has been well documented, and it has produced blowback from residents who worry Nevada will start looking like the Golden State. When Sher talks about Las Vegas becoming Los Angeles 2.0, he doesn't mean it in a negative way. He said his clients who are relocating from California realize why they are coming to Nevada. "What I can tell you is the people leaving California don't like what it's become and are looking for a different lifestyle and different opportunities and different economics, and so those people coming to Las Vegas are aware of how it can be, and don't want to go back to that," he said. From 2020 to 2023, nearly 158,000 Californians relocated to Nevada, making up 43 percent of all new residents of the Silver State in that period, according to data from the Nevada Department of Motor Vehicles. Sher's brokerage, IS Luxury, recently opened an office on Newport Drive in Orange County, California. He currently has approximately 37 active listings, with 43 percent priced over $5 million and 30 percent over $10 million. In addition, he has several off-market listings pending that are priced above $10 million. So far in 2025, Sher has closed 21 transaction worth a combined $103 million - 16 on the listing side and five on the buyer side - with an average price point of $4.1 million. A recent Concierge Auctions study found that the average price of an "ultra luxury" home in the Las Vegas Valley, defined as the 10 most expensive sales in a given market, jumped 107 percent from 2019 through 2024. Sher said Las Vegas is going through a rebranding, turning into a "cosmopolitan" destination that caters to a wide range of people and not just the traditional casino and gaming sector. He also pointed to the potential movie studio in Summerlin backed by Sony Pictures Entertainment and Warner Bros. Discovery Studio. He said Hollywood's move to Las Vegas most definitely won't mimic California's policies and political stances "If it's (Hollywood) 2.0, they have to learn from their mistakes," he said. "Nobody wants to replicate what they're leaving California for. They want to do a 2.0 version, they want to think things through." ___ Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
Malaysian Reserve
06-05-2025
- Business
- Malaysian Reserve
TARIFF TALK: Homebuyer and Remodeling Price Sensitivity in 2025
Consumer Experiment also Reveals Building Product Prioritization DANA POINT, Calif., May 6, 2025 /PRNewswire/ — The Builder 100 – Zonda's 37th annual gathering of top U.S. builders – started yesterday. The event covers critical industry topics, including the potential impacts of tariffs and ultimate consumer response within the housing industry. Zonda building products expert Todd Tomalak presented a session titled '10 Industry Shifts No One's Talking About (Yet).' In tandem, his research team released its monthly Building Products Outlook, which includes a timely consumer experiment in response to rising costs due to tariffs. 'We think the industry should be prepared for an increase of about 9.3% to 'sticks and bricks,' taking into account not only direct costs from tariffs, but also baseline inflation and knock-on costs from domestic manufacturers,' says Todd Tomalak, Principal, Advisory of Building Products, Zonda. 'With that, we looked at trends that we believe will impact U.S. consumers, what compromises they'll consider and ultimately what we think consumers will buy in 2025.' What trends will impact consumer demand to increased product costs? 1. Reduced demand with a price hike will be distributed unevenly. Over a ~6 quarter period, with peak impact felt 6-9 months after the price shock Impact skewed by income: lower incomes reduce demand far more than higher 2. There will be a simultaneous hit to real income. Each 1% swing in real incomes historically skewed home improvement spending by several percentage points Since tariffs are broadly based, they impact overall consumer wallet more than targeted 'industry only' duties 3. Some households will reduce spending by scaling-down projects. ~20% of midrange remodels 'lost' due to tariff price shock, recouped as small maintenance and repair projects (< $5k ) 27% of 'big project' remodels lost, recouped or scaled down to 'mid-range remodels' (e.g. updating outdated appliances vs a larger kitchen update) 4. Consumers are also more price-sensitive since mid-2024, due to depleted pandemic-era savings, higher debt service payments and mortgage rate increases. Homeowners have finite money, and rising costs in one product can spill over into reduced spending on other products, even if those other products have no direct tariff exposure. If homeowners prioritize one product with rising costs as more important than other products, they may cut back spending on less critical categories. Our team conducted an analysis of this phenomenon using proprietary Zonda data, and we believe we have the first definitive analysis in the industry on recent homebuyer substitutions amid rising costs. Zonda analyzed relative tradeoffs of products selected as costs changed 2018-24, to learn relative differences in price sensitivities. So, which categories are homeowners most willing to prioritize despite rising costs?' There are huge differences in price sensitivity on selected upgrades in the home. Window and door upgrades are most price sensitive (10% higher payments drive -80% less upgrade selection) (Note: Increased costs related to windows and doors have yet to be passed along to consumers by manufacturers.) (10% higher payments drive -80% less upgrade selection) (Note: Increased costs related to windows and doors have yet to be passed along to consumers by manufacturers.) Flooring and electrical are less sensitive (10% higher payments drive only -8-9% less product upgrades) Finally, brands are even more sensitive than products, because individual brands can be substituted for similar experiences at varied costs. Rising costs due to tariffs are most likely to cause major swings between what brands consumer select. Learn more about our Building Products Outlook with exclusive research, forecasts and analysis. Join us at other upcoming Zonda events (next: Columbus Dealmakers, May 20; Raleigh Dealmakers, May 29 and Q1 Masterplan Community Update webinar May 20). Visit or follow us on LinkedIn for more information. About Zonda Zonda provides data-driven housing market solutions to the homebuilding industry. From builders to building product manufacturers, mortgage clients, and multifamily executives, we work hand-in-hand with our customers to streamline access to housing data to empower smarter decisions. As a leading brand in residential construction, our mission is to advance the home building industry, because we believe better homes mean better lives and stronger communities. Together, we are building the future of housing. Media Contact: Diane Begin, 224-836-5615, pr@ View original content to download multimedia: SOURCE Zonda
Yahoo
03-05-2025
- Business
- Yahoo
Banyan Tree's First Residential Project in Europe Will Be the Padilla Madrid Residences
Banyan Tree may be best known for its hotels, but the international hospitality group also runs more than 20 branded residential developments around the world. And for the first time ever, it's expanding to Europe. Banyan Tree Padilla Madrid Residences will be the company's inaugural branded residences on the continent. Situated in the capital city's ritzy Salamanca district within a 1948 building designed by rationalist Spanish architect Luis Gutiérrez Soto, the 24 homes span from one-bedroom layouts to four bedrooms, with prices starting at about 3 million euros ($3.4 million) and rising to more than 16 million euros ($18.4 million). More from Robb Report Here's Where You Can Get Jameson's Oldest Age-Statement Whiskey Yet This $11.6 Million Marin County Home Sits Right on San Francisco Bay This New One-of-a-Kind Pagani Supercar Proves the Zonda Isn't Dead Yet 'Banyan Tree Padilla Madrid Residences marks an exciting milestone as our first branded residence in Europe, expanding our legacy beyond Asia and bringing our signature hospitality and wellness lifestyle to a new audience,' Stuart Reading, the managing director at Banyan Group Residences, said in a statement. 'This project is a testament to our commitment to creating exceptional living experiences that honor both cultural heritage and contemporary elegance.' The Gutiérrez Soto building in Madrid's upscale Salamanca district has been updated and restored by the architect Julio Touza Sacristán. The facade and four open sides remain intact, while many other aspects have been modernized for today. Inside, the design firm Caramba Estudio has outfitted every residence with a mix of the traditional and the contemporary: White windows and shutters pay homage to classic Madrid design, as do traditional moldings on the high ceilings. The heated oak floors sport a herringbone pattern, and each home has its own terrace. In the kitchens, natural stone counters are paired with satin metal cabinetry. Bedrooms have central upholstered panels with smoked glass on the sides, a detail that's mimicked on the wardrobes. And the bathrooms include Portoro marble vanities and brushed brass finishes. As a well-regarded hotel brand, Banyan Tree has transported some of its resort-like amenities into the building as well. There's a spa with a Turkish bath and sauna, an indoor pool, and a state-of-the-art gym. Meeting rooms and private dining areas inside are complemented by exterior gardens and an interior garden courtyard. A full-service concierge is on call should you need anything more. And if you want to venture beyond the residences' walls, the Salamanca district is home to high-end stores from the likes of Chanel, Louis Vuitton, and Hermès, along with art galleries and Michelin-starred of Robb Report The 10 Priciest Neighborhoods in America (And How They Got to Be That Way) In Pictures: Most Expensive Properties Click here to read the full article.
