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Vol. 8 No. 3
November 30, 2015
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Many buyers priced out of top school districts Many of the top-rated schools are too pricey for the average wage earner, finds a new study by RealtyTrac, which evaluated school test scores for nearly 27,000 elementary schools in more than 7,200 U.S. city codes as well as home price affordability in those ZIP codes. Of 1,823 ZIP codes with at least one good school, 1,192 – or 65 percent – were unaffordable for average wage earners, the study found. Average wage earners would need to spend more than one-third of their
income in order to purchase a median-priced home there. The median sales price for homes in ZIP codes with good schools was, on average, $411,573 – 95 percent higher than the median home sales price in ZIP codes without any top-rated schools ($210,662), the study found. The metro areas with the most unaffordable ZIP codes with top-rated schools were in Los Angeles; New York; San Francisco; Chicago; San Diego; See Top Schools | 2
New study suggests strong outlook for green homes Dodge Data & Analytics’ New SmartMarket Report reveals that over half of home builders expect to be doing 60% or more of their new homes green by 2020 the future, as do increased use of renewable technologies by 2018. The 2015 study, which surveyed 232 builders and remodelers from across the U.S., demonstrates that they recognize the benefits of green building: •
Over half (54%) of home builders are currently constructing at least 16% of their new homes green, and 39% of remodelers report that at least 16% of their remodeling projects are green.
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By 2020, nearly all (81%) home builders will be constructing that level of green, with over half (51%) building at least 60% of their new homes green.
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By 2020, remodelers report a similar level of growth, with nearly three quarters (74%) making at least 16% of their projects green, and over one third (36%) completing over 60% of their projects green.
Realtor Raises Money for Homesless Vets
Mortgage Professionals Help Peru
Inspections vs Appraisals
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These expectations of higher green involvement emerge despite growing concerns about the cost of building green. 77% of home builders and remodelers report that building green has an incremental cost over traditional construction of 5% or more, notably higher than the 60% in 2014 and 58% in 2011 who noted that level of increased cost. While higher cost is also the top obstacle to green reported, it does not appear to have dampened the drive toward green in the market. “Builders and remodelers have long recognized that green is the future of home building,” said NAHB Chairman Tom Woods, a home builder from Blue Springs, MO. “Since we first began partnering on this study with Dodge Data & Analytics in 2006, we’ve seen that commitment grow. The study’s recent findings reinforce this continued growth, with new homeowner feedback showing See Green Homes | 2
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During the prolonged housing downturn, green homes provided support to the ailing residential market and now promise to be an important element of the recovering market as well, according to a new study conducted by Dodge Data & Analytics, in partnership with the National Association of Home Builders (NAHB) and with the support of Ply Gem Industries, (NYSE: PGEM), a leading manufacturer of exterior building products in North America. Despite the headwinds created by growing concerns about the cost of building green, a high percentage of home builders and remodelers are already building green and expect to do so in the future. While home builders and remodelers report that consumers of all ages are interested in green, the study also finds that consumers age 55 and older are the most important group driving the current green market. The findings also demonstrate that consumers’ association of green with healthier homes leads to even higher potential for growth in
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(719) 331-2750 chad.denny@academy.cc
(719) 380-1778 debbie.havens@academy.cc
(719) 491-2500 sharon.ballinger@academy.cc
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