Blogs

  • 20 Dec 2016 by BIASC - Staff

    Take a look back on the design trends for 2016 and view what's to come in 2017.

     

     

    2016: Matte Black Fixtures

    Last year interior design was all about matte finishes. However, Etsy designers created metallic designs with varying textures. The good news? The matte paint from last year will look amazing next to the metallic objects and varying textures that you picked over the year.

     

     

    2017: Mixed Patterns

    The mixed pattern trend on the runway during the fall 2016 New York Fashion Week has inspired home décor in the coming year. A space with a statement piece anchors a room with enticing and mismatched patterns.

     

     

    2016: Marble Accents

    Marble was very prominent in this year’s NY NOW showcase. The trend adds a touch of luxury at a lower price.

     

     

    2017: Faux Finishes

    It’s not just faux furs that are being talked about for 2017 trends—faux materials, such as faux wood ceiling beams that won’t rot, or engineered quartz that can withstand acidic foods better that Carrara marble, are being considered for budget friendly design.

     

     

    2016: New Neutrals

    In 2016 designers left cliché neutrals, such as taupe, and replaced them with new neutrals that included blush tones, silver, and even pale blue. 

     

     

    2017: Greenery

    The 2017 Pantone Color of the Year is “Greenery.” The bright green color is supposed to represent refreshment and revitalization as we enter the new year.

     

     

     

     

  • 20 Dec 2016 by BIASC - Staff

    Millennials and boomers will be big buyers

     

    As the oldest of the millennials push into their mid-30s, many will start to settle down and buy houses, Smoke and Gudell said.

     

    A number of factors are contributing to this generation's decision to start buying homes. More jobs are being created for 25- to 34-year-olds than any other age group, and wages are rising, Smoke said. Millennials are also reaching an age at which they're thinking about marriage and children.

     

    Baby boomers, the oldest of whom are entering their late 60s, are also looking to move as they reach their retirement years, Smoke said.

     

    In the last several years, baby boomers' participation in the housing market has dwindled. Many already own homes and may have been reluctant to sell until their properties recovered the value they lost in the housing bust, Smoke said.

     

    "While a sizable number want to downsize to control expenses, we're seeing others move to the biggest house they've ever owned because they've got children and grandchildren and they want those people to come visit," Smoke said.

     

    He added that many boomers are opting not to move to traditional retirement hot spots like Arizona and Florida, instead choosing to move closer to family.

     

    Home values will increase, but more slowly than last year

     

    Home values should increase about 3.6 percent next year, Gudell said. That's a slight drop from 2016, when national home values rose about 4.8 percent.

     

    As the market recovered from the housing crisis, "for a while, we were growing at very high home-value appreciation rates," Gudell said. "What we'll see for next year are more historically normal appreciation rates in line with what we've seen over the last 50 or so years."

     

    Gudell and Smoke said this slowdown in appreciation is an inevitable effect of the market's recovery, and it signals that the nation's housing market is normalizing.

     

    More people will move to the suburbs for affordable housing

     

    As home prices continue to rise, more buyers will move to the suburbs to find affordable housing, Gudell said.

     

    "After the housing bust, people were able to move back to the cities because it was much cheaper than a few years ago," she said. "Now, we see people would still like to live close to the city center where they're close to amenities and in walkable neighborhoods, but for the first time they're not able to find enough inventory that's affordable for them to buy."

     

    As a result, many people have to look further out from cities to find homes in the right price range. 

     

    West coast prices will continue to rise

     

    Homebuyers may have the market on their side in the Midwest, but home prices on the already-expensive West Coast will continue to rise, Smoke said.

     

    "It's fundamentally where the most significant job growth has been since the end of the recession, led by California -- particularly Northern California -- and continuing into Portland, Seattle, Denver, Phoenix and Tucson. Most Western markets are outperforming the East," Smoke said.

     

    Population growth will follow job growth, he said, increasing demand for homes beyond the market's ability to build inventory and lead to higher prices.

     

    Mortgage rates will increase

     

    Following the housing market crash, mortgage rates remained at record lows for years. However, that's finally starting to change, Smoke said.

     

    Rates are climbing now and are expected to keep doing so next year, with the Federal Reserve indicating that three more increases to its benchmark rate are coming in 2017.

     

    "As a buyer or seller, this essentially points to acting sooner rather than later if you're intending to do a transaction next year," he said. "Rates will get higher as we go through the year, and inventory is not going to improve. So winter or early spring will be more advantageous than waiting for late spring or early summer, when most buyers emerge."

     

    Read the rest of the predictions for the new year here.

  • 09 Dec 2016 by BIASC - Staff

    View the Photo Gallery Here

    Project Team
    Architect: Bassenian Lagoni 
    Builder: Beazer Homes 
    Interior Designer: Triomphe Design

    Design Statement:
    Palm Springs' home buyers value the unique architectural character of their desert oasis. To deliver the required authenticity, this plan stayed true to must-have design details of Mid-century Modern homes: flat planes, large windows, changes in elevation, and integration with nature. The gabled roof common to modern ranch-style houses and the small steps between rooms create split-level spaces.

  • 05 Dec 2016 by BIASC - Staff

    Employment bounces back following a lackluster jobs report in October.

    By Hanley Wood Data Studio

     

    The U.S. economy added 178,000 non-farm payroll positions in November, according to the monthly employment report released by the Bureau of Labor Statistics (BLS). This seasonally adjusted figure—a significant increase from October's downward revised addition of 142,000 jobs—fell slightly short of the Wall Street Journal's expectation of 180,000.

     

    The national unemployment rate declined from October's 4.9% to 4.6%, while the labor-force participation rate was little changed at 62.7%. Average hourly wages for private, non-farm workers declined by 3 cents to $25.89, following an 11-cent gain in October.

     

    Economists believe October's report was depressed by Hurricane Matthew, and that November's boost is significantly attributed to the return to normal weather conditions. According to the Wall Street Journal, December's employment report is clouded with uncertainty, as Federal Reserve officials will meet mid-December, and are expected to raise interest rates for the first time in a year.

     

    The construction industry continued to grow in November, adding 19,000 payroll positions. Construction jobs added in November outpace October's addition of 14,000 jobs, but still lag far behind the 65,000 positions added in November 2015. The manufacturing sector continued to shed jobs, losing 4,000 jobs in November. Meanwhile, payrolls in the architectural and engineering services sector lost 1,000 positions in November, following six consecutive months of growth.

     

    Read the full article with interactive graphical data on Builder Magazine and get the full release from the Bureau of Labor Statistic for more key figures.