Washington DC-Baltimore Housing Market Overview
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Washington DC-Baltimore Housing Market Overview. Washington DC • March 1, 2007. Victor Furnells National Director, Builder Accounts HANLEY WOOD MARKET INTELLIGENCE 202-729-3590. www.hanleywood.com www.builderinfostore.com.

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Washington dc baltimore housing market overview

Washington DC-Baltimore Housing Market Overview

Washington DC • March 1, 2007

Victor Furnells

National Director, Builder Accounts

HANLEY WOOD MARKET INTELLIGENCE

202-729-3590

www.hanleywood.comwww.builderinfostore.com


Washington dc baltimore housing market overview

Hanley Wood – A Network Unlike Any OtherLargest business-to-business media network serving North America's residential and commercial construction industries.

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Leading provider of information and analysis to homebuilders, lenders & manufacturers

Market Intelligence


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Washington dc baltimore housing market overview

Market Intelligence Division

  • Provide data, analysis, published research, software, and consulting services to the residential home building and development industry

  • Products designed to meet the needs of today’s residential real estate and building professional including:

    • Information Products

    • Published Research

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  • Cover top 75 markets across United States


  • Washington dc baltimore housing market overview

    Some Products….

    • Proposed Project Data

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    • Resale Data

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    Washington dc baltimore housing market overview

    Washington-DC Baltimore Housing Market Overview


    Washington dc baltimore housing market overview

    Consumer

    Confidence

    Currently

    United States110.0

    South Atlantic 122.5

    Source: The Conference Board


    Washington dc baltimore housing market overview

    In-Migration Flows

    Washington DC

    Source: Economy.com, 2006


    Washington dc baltimore housing market overview

    In-Migration Flows

    Baltimore

    Source: Economy.com, 2006


    Washington dc baltimore housing market overview

    Job Growth

    Washington DC-Baltimore

    2007*

    Washington DC: 29,500

    Baltimore: 16,200

    Note: 2007* is projection

    Note: Data is year over year change. Source: U.S. Bureau of Labor Statistics


    Washington dc baltimore housing market overview

    Total Permits

    Washington DC-Baltimore

    2007*

    Washington DC: 27,468

    Baltimore: 9,090

    Note: 2007* is projection

    Source: Hanley Wood Market Intelligence Market Monitor


    Washington dc baltimore housing market overview

    New Home Sales

    Washington DC-Baltimore

    4Q06Washington DC – 3,906 Baltimore – 973

    Source: Hanley Wood Market Intelligence Market Monitor


    Washington dc baltimore housing market overview

    Months of Standing Inventory

    Washington DC-Baltimore

    4Q06

    Washington DC – 2.2 Baltimore – 1.3

    Source: Hanley Wood Market Intelligence Market Monitor


    Washington dc baltimore housing market overview

    Single Family Detached Median Price: Nothing Below $590K

    Washington DC-Baltimore

    4Q06

    Washington DC$590,490 Baltimore$610,900

    Source: Hanley Wood Market Intelligence Market Monitor


    Washington dc baltimore housing market overview

    Attached Median Price: Nothing Below $333K

    Washington DC-Baltimore

    4Q06

    Washington DC$395,990 Baltimore $333,900

    Source: Hanley Wood Market Intelligence Market Monitor


    Washington dc baltimore housing market overview

    New Home Affordability Ratio Washington DC-Baltimore

    2006 Affordability Ratio

    Washington DC – 14.8% Baltimore – 8.3%

    Note: Data is for 30-Year Fixed Rate Mortgage.

    Source: Hanley Wood Market Intelligence Market Monitor


    Washington dc baltimore housing market overview

    Sales Rates Washington DC-Baltimore

    4Q06 Sales Rates

    Washington DC1.26 Baltimore1.11

    Source: Hanley Wood Market Intelligence Market Monitor


    Washington dc baltimore housing market overview

    Top Homebuilders

    January – December 2006

    Washington DC-Baltimore

    Source: Hanley Wood Market Intelligence Web Report


    Washington dc baltimore housing market overview

    Construction Lenders By Builder Washington DC-Baltimore

    Source: Hanley Wood Market Intelligence Builder Info Tools


    Washington dc baltimore housing market overview

    Top Preferred Mortgage Lenders Washington DC-Baltimore

    Source: Hanley Wood Market Intelligence Builder Info Tools


    Washington dc baltimore housing market overview

    2007 Projections Washington DC

    • Employment Growth – 71,000

    • Unemployment Rate – 3.2%

    • Population Growth – 58,785

    • Affordability Ratio – 31.4%

    • Single Family Permits – 19,500

    • Multi Family Permits – 9,000

    • Housing Growth Ratio – 5.3

    Note: Housing Growth Ratio measures rate of growth of a market based on the number of permits per thousand people in the metro area


    Washington dc baltimore housing market overview

    2007 Projections Baltimore

    • Employment Growth – 21,500

    • Unemployment Rate – 4.1%

    • Population Growth – 10,541

    • Affordability Ratio – 34.6%

    • Single Family Permits – 6,400

    • Multi Family Permits – 1,800

    • Housing Growth Ratio – 3.1

    Note: Housing Growth Ratio measures rate of growth of a market based on the number of permits per thousand people in the metro area


    Washington dc baltimore housing market overview

    Things To Keep an Eye On

    • BRAC Realignment – Fort Meade base, MD

      • 45,000 – 55,000 new jobs

      • They will need affordable homes that the military cannot provide.

    • $20 Billion in Mortgage loans will reset in 2007.

      • Greater competition from Resales

      • More so with attached homes

    • Look for “Multi-Generational” homes

      • Addressing the growth in minority population

    • “Jewelry Box” homes

    • Active Adult population

      • 5 million people will turn 55 each year until 2017

    • More collaboration between builders and commercial developers


    Washington dc baltimore housing market overview

    Builder InfoTools

    active and proposed projects data solution

    02.2006

    HANLEY WOOD MARKET INTELLIGENCE


    Washington dc baltimore housing market overview

    Research Methodology

    Data Collection and Revisits

    • 110+ Research Associates Staff

      • Collecting and verifying >400 project variables including plan level pricing & size, sales, inventory, standard features, amenities & options Up to four quality checks - two internal, two external.

    • 1,100,000 Annual Miles Driven

      • Monthly on-site surveys of new, actively-selling new home production subdivisions, condos or town homes

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      • Direct reconciliations with sales agents as well as builders' corporate offices contacting every agent and every builder project in every county

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    • 47,400 Projects Physically Surveyed in 2006

    Quality Checks and Compile

    Publish into Information Products


    Washington dc baltimore housing market overview

    Hanley Wood, LLCWe’re getting Bigger, Better & Faster

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    Washington dc baltimore housing market overview

    Washington DC-Baltimore Housing Market Overview

    Washington DC • March 1, 2007

    Victor Furnells

    National Director, Builder Accounts

    HANLEY WOOD MARKET INTELLIGENCE

    202-729-3590

    Questions ?

    www.hanleywood.comwww.builderinfostore.com


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