Modern Builder & Design - July-August 2015

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MIDWEST SPECIAL SECTION 10 JULY/AUGUST 2015 WWW.MBD-MAGAZINE.COM
SPECIAL SECTION MIDWEST LOOKING UP B Y K E C I A B A L While housing markets can vary from city to city – and even neighborhood to neighborhood – overall, the Midwest is a region experts point to as an important part of a rosier picture for an improving real estate market nationally this year. In February, pending home sales reached their highest level since June 2013, with sizeable gains in the Midwest and West, according to the National Association of Realtors’ Pending Home Sales Index. The index, a forward-looking indicator based on contract signings, is one measure for residential market health. Reports show that the index leaped 11.6 percent to 110.4 in February – the most dramatic change in the Midwest so far this year. The number also was 13.8 percent above February 2014. After a dip in March of this year, the index rose to 112.1 in April and 111.4 in May. Though it slipped in June to 108.1, that measurement is still 5 percent higher than a year ago. Realtors in Midwestern states are noting promising numbers, too. Illinois home sales in June “surged” 12.5 percent higher than last year while median prices also saw strong gains, according to a statement from the Illinois Association of REALTORS. Statewide home sales [including single-family homes and condominiums] in June 2015 totaled 17,972 homes sold, up 12.5 percent from June 2014. The statewide median price in June 2015 rose to $194,243, an 8.5 percent gain over June 2014’s statewide median price. “Sellers keep reaping the rewards of a market that has continued In Wisconsin, realtors saw the best June sales volume since 2006, according to the Wisconsin REALTORS Association. to see median prices edge higher every month this year,” association President Jim Kinney said. Kinney also is vice president for luxury sales at Baird & Warner in Chicago. Minnesota’s year-over-year figures show a 23.3 percent boost in closed sales this June, with a 7 percent increase in median sales price and dip in the number of days on the market, according to reports from the Minnesota Association of Realtors. Summer reports from the state association show new listings in the Twin Cities region increased 4.6 percent compared to a year ago, and pending sales were up 19.2 percent. Kansas home sales also rose this summer, increasing in June by 6.5 percent compared to the same period last year, according to new figures released by the Kansas Association of REALTORS. “Sales across the state are up nearly 9 percent through the first half of the year,” association President Todd Woodburn with Coldwell Banker Plaza Real Estate in Wichita, Kansas, said. “Inventories of homes priced between $100,000 and $300,000 are now below a three months’ supply.” In Wisconsin, realtors saw the best June sales volume since 2006, according to the most recent analysis of residential housing activity conducted by the Wisconsin REALTORS Association. Existing home sales rose 17.6 percent in June compared to June 2014. Comparing the first half of 2015 with that same period last year, home sales were up 12.3 percent, and median prices increased 6.9 percent over that time frame. That’s all good news for one of the most important times of the year, according to Dan Kruse, association board chairman. “In a typical year, June accounts for about 11.5 percent of annual sales, which is the highest share of any month during the year,” Kruse said. WWW.MBD-MAGAZINE.COM JULY/AUGUST 2015 11
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Page 44 and 45: ACCENT HOMES Accent Homes offers th
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TONY GIESEL CONSTRUCTION A PERSONAL
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TONY GIESEL CONSTRUCTION “I would
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OVERSTREET BUILDERS creates homes t
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CLARK DESIGN BUILD Clark spent the
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WBuild homes are characterized by t
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WBUILD partners. “We believe a be
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WBUILD plan but then really working
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TIMBERWORX CUSTOM HOMES 78 JULY/AUG
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TIMBERWORX CUSTOM HOMES AT GUELPH,
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TIMBERWORX CUSTOM HOMES location. W
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LOVETTE CONSTRUCTION BOUTIQUE HOME
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LOVETTE CONSTRUCTION “People talk
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PALO VERDE HOMES BUILDING WITH SWEA
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Despite the vast differences homebu
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PALO VERDE HOMES the corporate enti
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PALO VERDE HOMES WWW.MBD-MAGAZINE.C
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STADLER CUSTOM HOMES CUSTOM TAILORI
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STADLER CUSTOM HOMES have been work
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ARCH-TECH DESIGN GROUP WWW.MBD-MAGA
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ARCH-TECH DESIGN GROUP movement;
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Arch-Tech Design Group was honored
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AP+I DESIGN, INC. “That’s one o
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TRAMMELL CROW/PARK 205 REDEFINING S
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YEARGIN POTTER SMITH ACCOMMODATING
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YEARGIN POTTER SMITH the Link Apart
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LEADING FORCE ENERGY & DESIGN CENTE
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ENVIROHAVEN CORP. Suncrest Builders
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ENVIROHAVEN CORP. tional Builders'
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Modern Builder & Design - July-August 2015

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