Home News Latest homebuilder rankings provide peek into regional housing market

Latest homebuilder rankings provide peek into regional housing market

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Built in 2020 at the Rutland Grove subdivision of HH Hunt Homes. HHHunt was ranked second on the Richmond Home Construction Association’s Top 10 Member Builders List of the Year. ((((BizSense file photo).

Business seems to remain strong among the busiest homebuilders in the region, as the home market in the region is beginning to show signs of relatively cold, but there are concerns about possible lot shortages. increase.

Earlier this year, the Richmond Home Construction Association published an annual list of the top 10 member builders based on sales and number of units. In the 2021 ranking, the top three builders in the region maintain their previous spots. Ryan Homes in 1st place, HH Hunt Homes in 2nd place, and Main Street Homes in 3rd place.

Reston-based Ryan’s sales fell from $ 353 million to $ 345 million, despite a decline compared to 2020, with HBAR figures (constructor and research firm Integra). According to data provided by Realty Resources), it remained at the top despite the reduction in new home closures from 963 to 891. – Richmond).

The number of HHHunt and Main Street has increased, with HHHunt sales of $ 192 million last year and 482 new homes, compared to $ 162 million and 435 in 2020. From $ 140 million and $ 321 the previous year.

VA’s Eagle Construction remained fourth on the volume list last year at $ 125 million, but new home sales fell second to sixth with 230 units. In particular, Eagle ranked high in 2020 with a small number of homes. Sales – 209 – But last year Eastwood Homes and Stylecraft Homes outperformed at 249 and 245, respectively.

Eastwood ranked fifth in sales volume at $ 107 million and StyleCraft ranked seventh at $ 80 million.

It was DR Horton who made the biggest year-over-year jump on both of HBAR’s top 10 lists. In 2021, DR Horton was ranked 6th in sales volume with $ 85 million and 7th in housing with 217. The previous year was a Texas-based builder. Ranked 10th on both lists, $ 46 million and 123 homes were sold.

Stanley Martin Homes’ ReTreat at One development has shaped a variety of homes.

No. concludes last year’s top 10 sales list. 8 CraftMaster Homes ($ 72 million), No. 9 Stanley Martin Homes ($ 69 million), No. It was 10 RCI Builders ($ 67 million). On the home closing list, Stanley Martin was 8th with 203, Liberty Homes VA was 9th with 153 and CraftMaster was 10th with 137.

Aggregation of all builders in each list showed that the top 10 sales totaled $ 1.3 billion in 2021 and the total closure of new homes totaled 3,162. Both numbers are higher than the previous year. By 2020, there will be $ 1.1 billion and 2,916 homes. In 2019, it will be $ 995 million and $ 2684. And $ 930 million and $ 2,381 In 2018..

While the numbers appear to indicate increased productivity and sales for area builders, they do not reflect the overall picture of market activity across the region, said HBAR CEO Danna Markland.

“Many of these builders / developers closed sections that restricted supply between late 2020 and 2021, so rankings don’t always give an accurate picture of demand and performance,” Markland said. I mentioned in the email.

Danna Markland

She said many builders are holding or limiting home sales in certain communities in order to balance production levels. She added that some builders are now choosing to build based solely on specifications in order to better manage these levels and price fluctuations.

“This is far from the summer / autumn of 2020, when spec inventory was unprecedented,” says Markland.

Beyond the Top 10 Builders List, Markland is the largest year on the market with Virginia Beach-based Boyd Homes rising 17 spots in the rankings compiled by Integra Realty Resources – Richmond from 2020 to 2021. Pointed out that there was a jump.

Markland isn’t in the top 10 in HBAR’s analysis, but covers a wider footprint than the IRR-Richmond and includes some regions, but Void has reached 10th place in the IRR. Sales were $ 38 million and homes were 112, up from $ 7 million. There will be 24 homes in 2020.

“It’s a reaction to the market and we expect growing demand for town homes,” Markland said, noting that Void is focusing on its product type.

Markland also pointed out a recent report from Chesterfield County. This shows that there are significantly more multi-family and ancillary homes approved last year than single-family homes. Zoning approved by the county occupied 5,588 apartments, 1,777 town homes, and 1,514 detached homes, according to reports from the county’s planning department.

Looking at housing construction activities to date in 2022, Markland shows that a sample of 19 HBAR member builders saw a 28% decrease in net sales in March compared to the same month last year. Said that. She said the average selling price rose 17 percent compared to March 2021 to $ 519,717.

“The average number of communities built by these builders fell by 11% over the same period, which is evidence of many crises,” Markland said, as housing demand exceeded housing. He mentioned that there is a clear shortage of residential land available in the area. development.

Home purchases have cooled as well

According to the latest market report from the Central Virginia Regional Multiple List Service, the HBAR member sample showed a decline in net sales, but the home buying market in the region seems to be chilling as well.

CVRMLS reported a decrease in overall sales in the first quarter of this year compared to the first three months of 2021. Total sales in the metropolitan area were 3,380, a 9% decrease, or a decrease of 343 sales. Despite the decline, quarterly total sales remained above the region’s seven-year average.

Median selling prices for the quarter were $ 333,439 across the region, up 13% from last year. According to the report, the median Hanover County exceeded $ 400,000 for the first time, rising 20% ​​to $ 410,000.

Home sales averaged faster than last year, with an average of 20 days in the market compared to 23 last year. Inventory was low, with 1,536 active lists at the end of the quarter, down 11%. From last year’s abnormal number..

In a statement attached to the report, Dare Tulloch, chairman of the CVRMLS and Richmond Real Estate Association, said the market has slowed compared to last year but remains strong across the region.

Selling price levels were above the asking price in all but one of the 16 local markets in central Virginia in the first quarter, Tarlock said.

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