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.
New Home Sales: Cash Purchases on the Rise
Robert Dietz / Eye on Housing / July 25, 2014
The share of new single-family home sales purchased with cash rose during the second quarter of 2014, reaching 8.4% of sales. The onset of the housing crisis in 2007 led to a decline in the share of new home sales due to conventional mortgage financing and increases in the shares due to mortgages backed by the FHA and the Department of Veteran’s Affairs (VA), as well as cash purchases. The second quarter data from the Census Bureau’s Quarterly Sales by Price and Financing indicates that count of cash-based new home sales rose to 10,000 for the quarter, matching a cycle high. During theRead More
Construction Employment Increased in 38 States and D.C. From A Year Ago
AGC of America / July 18, 2014
Florida Has Largest 12-Month Percent and Total Gains, New Jersey Has Biggest Annual Declines; South Dakota and Florida Top Monthly Rankings, Alaska and California Shed Most Jobs in June Construction firms added jobs in 38 states and the District of Columbia over the past 12 months, but they reduced headcount in 27 states between May and June, according to an analysis today of Labor Department data by the Associated General Contractors of America. Association officials said the employment gains help, but that construction employment remains below peak levels in every location except NorthRead More
John Crosby / HW.com / November 6, 2013
Remodeling and replacement projects continue to come in stronger than originally expected based on the latest release of the Residential Remodeling Index (RRI) by Metrostudy, a Hanley Wood company. The seasonally adjusted third quarter national composite of the RRI registered a score of 93.3, which was a 2 percent improvement over the upwardly revised second quarter result of 91.3.
The increase quarter-to-quarter was the seventh consecutive improvement after the industry experienced declines in 2011 and bottomed out after peaking in 2007. As housing fundamentals began turning theRead More
Blaine Brownell / ARCHITECT / October 2013
Overcome by Jørn Utzon’s design for the Sydney Opera House, Louis Kahn once remarked, “The sun did not know how beautiful its light was until it was reflected off this building.” Forty years after its opening, one of the world’s most recognizable works of architecture is undergoing a gentle transformation—an incremental remodeling—that is bringing the public icon closer in alignment to its creator’s original vision.
Day or night, the atmosphere in the Opera House is animated by the energy exuded by the throngs of visitors. The nonstop activity, combined with the ongoingRead More
John Crosby / HW.com / October 22, 2013
The U.S. Department of Commerce reported today that construction spending hit a near 4-1/2 year high in August, boosted by increases in both private and public outlays, a hopeful sign for third-quarter economic growth.
Construction spending increased 0.6 percent to an annual rate of $915.1 billion, the highest level since April 2009.
Private residential construction spending jumped 1.2 percent to a five-year high, showing little sign that high interest rates were slowing activity. Part of the increase in residential construction spending reflected home improvement projects. PrivateRead More
Hallie Busta / ARCHITECT / October 11, 2013
The Hurricane Sandy recovery is inciting information sharing among the New York architecture community and design teams worldwide, says one of the architects leading the effort.
Illya Azaroff, AIA, is among a growing group of architects actively looking aboard for resilient design strategies to employ at home. The Nebraska native and founder of New York architectural studio +LAB was tapped earlier this year by the AIA’s New York chapter to head the region’s recovery efforts following Hurricane Sandy. Before that, he’d helped found and chair the association’sRead More
David Crowe / NAHB / October 3, 2013
Recent data concerning consumer and builder confidence suggest that at the end of the summer a pause occurred with respect to economic improvement. Adding to this is the uncertainty associated with the shutdown of the federal government. Besides the direct impact from lost or delayed government services, the shutdown is also a warning concerning the impending political debate regarding the debt ceiling, an issue which could have significantly larger economic impacts, including higher interest rates.
Direct impacts from the ongoing shutdown include possible delays in FHA-insured single-familyRead More