If you’re a homebuilder or remodeler, you may have noticed that the homebuilding industry is still a tough place to make a living. In their recent report on the state of the nation’s housing industry the Joint Center for Housing Studies of Harvard University (JCHS) reported that: “After kicking off 2013 on a strong note, the single-family market slowed noticeably in the second half of the year—even before the unusually harsh winter took its toll. By the first quarter of 2014, housing starts and new home sales were down by 3 percent from a year earlier while existing home sales were off by 7 percent.”
While those smart folks at Harvard aren’t sounding the death knell for the housing market, they do outline some significant challenges for the market—along with some bright spots. One thing is clear, however: The housing market has changed pretty dramatically over the past few years. Unfortunately, a lot of homebuilders and remodelers are taking an “SOS” approach to the market. No, they’re not necessarily abandoning ship—but they’re still using the “Same Old Stuff” in an attempt to attract buyers—and it’s not working.