To say the market is hot right now would be an understatement; in October 2017, new home sales in the US hit their highest point in a decade with 685,000 units sold - an increase of 6.2%.
But the fact of the matter is even with home sales surging, there are not enough properties available for all the potential homebuyers on the market - but that is starting to change. According to a recent Trulia report, residential building permits are being issued at rates significantly higher than average in multiple markets across the US to keep up with demand.
Markets Experiencing the Most Growth
One of the areas seeing the most growth? Texas. Three markets in Texas (Austin, Dallas, and Houston) were set to build over 130,000 new homes in 2017, accounting for over 10% of all permits issued in the US that year. Other markets experiencing major growth include Charlotte, S.C. (72% more residential construction than average), Nashville, Tenn. (65.8% more than average), and Philadelphia (62.3% more than average).
Choosing the Right Materials
With so many new homes springing up across the country, it is important for builders to think about which types of materials they are using to ensure their new properties can stand the test of time all while staying both TSCA Title VI and CARB Phase 2 compliant.
Here are the types of hardwood to use when you want to build a home that will last (and still look as good 20 years from now as it does today):
- Oak: Oak is a relatively affordable option that is popular with builders thanks to its durability. This hard, heavy wood has a beautiful grain that works in multiple home styles from country to contemporary.
- Maple: Maple is another durable option. However, it is important to understand the differences between hard and soft maple and the best applications for both. Hard maple is a great choice for floors and cabinetry while soft maple is a better fit for more stylistic details like millwork.
- Cherry: While also durable, Cherry it is a bit softer than maple and oak, it is also less brittle, making it easier to work with.
Additional Material Options
Often, builders feel torn between choosing a hardwood based on durability and longevity vs. appearance and style—particularly for aesthetic details like doors and cabinetry. For builders struggling with this decision, hardwood veneers can create the look and feel of a specific wood, even if the base is something else entirely.
With homes selling at a historic rate, builders are upping their production to keep up with the demand and sell more homes. But when it comes to building homes, quality will always be more important than quantity which is why choosing the right hardwood is so important in providing a home that stands the test of time. And with home buyers being more educated and discerning than ever, using quality material from the beginning is crucial to closing home sales, and avoiding future issues.