Evening star., 1938-05-14
HOME SITE SALES
. REPORTED BRISK
Real Estate Magazine Finds
Level Equal or Preater
Than Last Lear.

Sales Of home sites ready for build
ting have been increasing very gener-
ally over the country in the past two
months and are now on a level equal to
or greater than last year in majority
Of cities. according to representative
realtor home builders and land de-
velopers of the country replying to a
query made by the National Associa-
ton Of Real Estate Boards, results Of
which are repoted in Freehold. maga-
xine of real estate, in its May Is issue.
As these men see conditions in their
own communities, the outlook in over
two-thirds Of all cities covered by the
inquiry is that home building during
1888 will equal or exceed that of 1887.
The inquiry was made by the land
developers and home builders division
Of the association. Members Of the
sales made during the early part Of
1898; 90 number of homes built dur
ing 1888 on property owned, controlled
or sold by them, and (3) each indi-
vidual's appraisal of home building
possibilities in his community for the
balance of the year, based upon activi-
ty during the first few months. In sew
eral cases two or more members re-
ported for single city.
Summary Of Questions.
N~ooho1Ise ov-xyi vt fn11nu,c
To the question, Has there been
an increase during the last two months
In the number Of vacant lots in your
community sold to prospective home
builders" for 80 per cent Of communi-
ties, the answer was YES" for the
balance mo" Yes" votes came from
26 States, and from four of these
negative replies were also received.
The noes" came from five States, scat
tered from coast to coast. from all but
one of which yes replies were re-
ceived from other communities.
Answers to the second part of this
question, How does this compare with
the same months last year?" indicated
that February and March vacant lot
sales were generally about equal to
those of the corresponding months Of
1887.
For IS per cent Of the communities,
sales were reported either greater than
or on a par with last year. The sales
are topping the corresponding months
of last year in 3S per cent of the
communities.
To the question. Has there been an
Improvement during the last two
months in the number of homes built
or contracted for upon land owned.
controlled or sold by you?" almost
exactly half of the replies indicate that
there has been improvement. Note
worthy among individual comments
appended were those which said that
Enquiries are increasing" or more
people looking" or much more in
terest this year." more houses built
Ing up" 'have extensive program for
the next few months"
Activity Is Compared.
Queried as to how the above home
corresponding two months of 1887, Al
per cent Of the replies showed activity
greater or the same as last year, SO
per cent showed it as less, so far.
In the light Of individual comment
the whole situation as it pertains to
home building appears to be spotty.
Home building in individual COM
y,n1yN{finc al
way from Is per cent of last years
volume at this time to two or three
times last years volume.
Corroborating the above report of
individual home builders and individ-
ual communities, and giving it added
interest, the national index of new fam
lily accommodations built, compiled for
the National Association of Real Estate
Boards from reports of typical metro
polltan regions over the country, and
including both dwelling construction
and apartment construction, shows for
the same two months an increase
greater than seasonal. The volume for
March was shown as $50 per cent
Of the 1926 volume, as against 52.6
Tor the same month last year. How
ever. after correction to exclude the
effect Of New York City, where the
building code has recently been
changed, the March, 1888, index is
little less than 4s per cent, as against
the 52.6 for March Of last year.
For the year 1888 as a whole the
experienced men of the Land Develop
ers and Home Builders Division an
swering the associations current, in
ouiry for their own communities, esti-
mate, in the case Of II per cent Of the
communities, an activity greater or
at least as great as that of 1887. De-
tail here: A volume greater than 1898
Is anticipated in 80 per cent of the
communities, volume about equal to
last year in 80 per cent Of the COM
munities, smaller volume in 20 per
cent Of the communities. More fire.
quently than any other comment here
Is this, Freehold reports: Home build
ing for 1888 will be largely in the low
cost classification. Some commenta-
tors pointed out major uncertainties
affecting the outlook, as, for example,
the trend Of building COSTS Some of
those reporting 1898 to be starting
slower than 1887 felt it would close
with building proceeding at a faster
pace. the years volume approximating
that Of 1887 or bettering it.
Reports showed no clear geograph-
dcal variations, or variations as be-
tween small and large cities.
Comments on change in respect to
the market for home sites shows q
very wide variation as between COM
munities In this respect.