Builders ramping up for construction season
Builders are ramping up for construction of new single-family homes in the Albuquerque metro area just ahead of spring/summer homebuilding season.
DR Horton led in the number of homebuilding permits pulled in February, according to new numbers by the Albuquerque New Housing Market Letter, a monthly publication of DataTraq.
The report says Horton was issued 31 permits for its Enchanted Hills, Mariposa/The Peaks and The Trails/Taos subdivisions.
Pulte Group followed with 28 permits issued during the month.
Construction is underway at this DR Horton community on Albuquerque’s West Side. (Steve Sinovic/Albuquerque Journal)
Homebuilders requested 147 permits in February, 37 percent of which were for homes in Rio Rancho. The number was a slight increase from January, when there were 123 permits.
DataTraq said 62 percent of the homes are in the $150,000 and $250,000 price range.
In the past 12 months, the most active subdivision was Pulte Group’s Mirehaven, where 133 permits were issued.
What a difference a month makes.
More single-family homes came onto the New Mexico market in a big way in February, doubling the number of active listings reported in January, according to data released by the Realtors Association of New Mexico.
Every reporting New Mexico county showed an increase in active listings in February over January numbers, according to RANM. The number in February 2018 stood at 14,599 homes, a 96 percent rise from the previous month’s 7,425 active listing roster.
In terms of sales, 1,959 residences changed hands in February, a nice rise from the 1,254 transactions reported from same month in the prior year.
Statewide, median prices also continue their climb. February’s $193,500 median was up nearly 8 percent from the February 2017’s $180,000.
Home sales during the month resulted in a volume of $467.9 million, a 67 percent rise from February 2017’s figure of $280.8 million, according to the trade association that numbers 6,000 members.
“Housing is doing its part to help keep New Mexico’s economy robust,” said Anaya.
Tile retailer expands
A World of Tile, a retailer of of tile and building supplies, opened for business April 5 at the Corrales Shopping Center. It’s the company’s second store in the Albuquerque area.
The new business covers 10,000 square feet of space and the company hired seven people as staff, said store manager Meriah Narro. “We hope to add more people in the future,” she said.
Targeting both contractors and homeowners, the showroom carries thousands of different shapes, types, styles and colors of tile, as well as grout and mortar materials, shower pans, and shower glass systems.
Showroom experts at the new store, which is located at 10701 Corrales NW, are available to help homeowners through all steps of the decision-making and installation process. A World of Tile also welcomes partnerships with contractors homeowners may have already selected.
For the hands-on customer – and those looking to become even handier – each A World of Tile store offers DIY workshops every second and fourth Saturday of the month.
A World of Tile opened its first store in Denver 1989, and now has a network of 17 stores in Colorado, Arizona and New Mexico.
Titan community design wins kudos
Titan Development’s most recently completed senior living community in Albuquerque, Élan Santa Monica, has won a Silver at the American Society of Interior Designers Wisconsin Awards for Design Excellence.
Titan tapped the Milwaukee-based Aptura to create the award-winning interior design.
Inspired by the warm color palette of the nearby Sandia Mountains, the community features an array of neutral materials like stucco, wood beams, and natural stone.
Anything but traditional, the contemporary design and amenities appealed to the judging panel, according to a release from Titan announcing the ASID honor.
Reid and Associates, a San Antonio-based construction company, served as general contractor on the project.
“With Aptura handling the interior design and Civitas handling on-site operations, we knew this project would be able to garner the attention of industry experts,” said Julie Ferguson, Titan’s director of senior living.
Steve Sinovic covers real estate for the Journal. He can be reached at email@example.com or by calling 505-823-3919.