by Jody Kahn, Senior Vice President
Bank sales down significantly. When 60% of the land was being sold by banks, as was the case in early 2011, we advised our clients to buy aggressively in the better locations. Today banks represent only 6% of the residential land sales (as of 4th quarter 2014), and most of the bank activity is occurring in the Midwest and Southeast, or in exurban locations.
by John Burns, CEO
Our Chief Demographer Chris Porter shared the following amazing chart with me, showing the explosive construction growth in the Southeast. Any builder or building products company that has invested more heavily in the Southeast has certainly reaped the rewards.
Chris, our Southeastern consulting leader David Kalosis, and I believe this growth trajectory will continue. Affordable housing, pro-growth economies, and great regional airports will continue to attract people to the Southeast. David also notes that the Southeast recovered later than many other areas, so recent momentum is strong, and builders are currently selling many high-end homes to relocating executives.