News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
Brad Hunter / Builder / October 17, 2014
Housing starts rose by 6.3% in September, which places activity 17.8% above September of last year, according to the government report just released at 8:30.
Metrostudy’s view about the housing recovery remains unchanged. The total for 2014 will be little changed from 2013, but activity should increase in 2015.
The Top 4 Obstacles
There are still people who *should* be able to get mortgages who cannot (particularly those who work on commissions or bonuses, or are self-employed).
They have yet to help household formation rates, because those
Remodeling / October 13, 2014
Spending on home improvement projects will grow by 6% both this year and next thanks to gains in home prices and last year’s rise in home sales, but big-ticket projects won’t see as big a gain, Fitch Ratings forecasts.
The firm’s special report, issued Oct. 10, called for the home improvements product market to grow from $289.7 billion in 2013 to reach $307.1 billion this year and $325.5 billion in 2014. Fitch based its forecast on a broad array of indicators, including the gains in this year’s REMODELING Cost vs. Value report; the 4.8% year-over-year rise in existingRead More
AGC of America / October 3, 2014
Construction employers added 16,000 jobs and the sector’s unemployment rate fell to 7 percent, the lowest rate for September in years, according to an analysis released today by the Associated General Contractors of America. Association officials said the construction employment gains come as more firms report having a hard time finding enough qualified workers to fill available positions, citing the lack of local vocational training programs, especially at the secondary level.
“While we are eager to see even more construction employment gains, there is no denying theRead More
David Crowe / Eye on Housing/ October 2, 2014
New home sales rebounded in August, increasing 18% to a seasonally adjusted annual rate of 504,000, according to estimates from the Census Bureau and HUD. These gains were atop upward revisions for the July pace. The August rate is 33% higher than August 2013 and is a solid indication of the ongoing recovery in the single-family market.
The inventory of new single-family homes inched up to 206,000 on a non-seasonally adjusted basis in August. Of this total, only 48,000 were completed, ready-to-occupy residences. In terms of months’ supply, the inventory of new single-family sales fellRead More
Associated Builders and Contractors, Inc / October 2, 2014
The Associated Builders and Contractors (ABC) Construction Confidence Index (CCI) increased across all three indices in the first half of 2014. The CCI reflects construction industry prospects using three measured categories – revenues, profit margins and hiring. Each index now stands at a post-recession high implying that nonresidential construction’s recovery, already robust, is positioned to continue into the year ahead.
During the first six months of 2014 (readings above 50 indicate growth):
- Sales expectations rose from 63.2 to 68.2;
- Profit margin expectations expanded