Just the Facts
Home Prices Could Jump 9.7% in 2013
J.P. Morgan Chase & Co. expects U.S. home prices to rise 3.4% in its base case estimate and up to 9.7% in its most bullish scenario of economic growth. Standard & Poor’s has revised its estimate upward and now expects a 5% average rise in 2013. The J.P. Morgan analysts boosted their base case estimate after a convincing rise in the “net demand” for housing in 2012 which surpassed two million homes. Net demand is the pace of existing home sales minus the inventory of homes available for sale. “Net demand has picked up a lot in 2012,” said John Sim, a strategist for J.P. Morgan. “Once you get north of the 2 million territory, you are in positive growth.” The bank expects net demand to rise to 2.7 million in 2013.
- Wall Street Journal, Dec 14, 2012
New Home Starts Surge with 50% Increase
The DFW area saw new home construction increase by nearly 50% in the fourth quarter from one year ago. Builders started 4,549 homes in the area – the largest fourth quarter start in five years. Builders have had a hard time keeping up with the demand in 2012, and the strong surge is expected to accelerate in 2013. The $200,000 to $500,000 price range is very strong, and more homes are badly needed in the market. Less than 2,000 finished, vacant new homes were on the market at the close of 2012, the lowest inventory in 14 years.
- Dallas Morning News, January 8, 2013
NTREIS HOME SALES AT 4 YEAR HIGH
North Texas pre-owned home market ended 2012 with the best sales total in four years. The area saw a 16% gain in the number of single-family homes sold through the Realtors’ multiple listing service for North Texas. And median home sale prices in 2012 rose 8% from the year before, according to numbers released Tuesday by the Real Estate Center at Texas A&M and NTREIS.
- Dallas Morning News, December 9, 2013
Taylor Morrison Purchases Texas-Based Darling Homes
Taylor Morrison, a leading North American homebuilder, has purchased Texas homebuilder Darling Homes. The transaction closed on December 31. Darling Homes, founded by brothers Bill, Steve and Bob Darling, has been building high quality family homes in the Dallas-Fort Worth Metroplex and Greater Houston Areas for more than 25 years. Darling Homes has received numerous industry awards.
“My brothers and I are delighted to be joining Taylor Morrison,” said Bill Darling. “Taylor Morrison has a customer-focused attitude and an internal culture that is a close fit with our own. It’s great to see that the Darling brand will continue in this way.” Sheryl Palmer, CEO and President of Taylor Morrison said, “We have always been
impressed with the Darling brand and the team’s passion and commitment. It’s wonderful to think that we can now help to develop this complementary brand as part of Taylor Morrison.”
About Taylor Morrison
Headquartered in Scottsdale, Arizona, Taylor Morrison is a builder and developer of single-family detached and attached homes. Under the Taylor Morrison® brand, the Company operates in Arizona, California, Colorado, Florida and Texas. Under the Monarch brand, the Company operates in Ontario, Canada where the Company builds and develops single-family detached and attached homes in both Toronto and Ottawa. Monarch also builds high-rise condominiums in Toronto. Taylor Morrison serves a wide array of homebuyers, including entry-level, move-up, luxury and active adult customers, through its innovative product mix. For more information, please visit www.taylormorrison.com.
- Taylor Morrison & Darling Homes press release, January 2, 2013
