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.
Latest RRI Shows No Slowdown for Remodeling Market
Dante Webster/ REMODELING/ November 12, 2015
Remodeling market see a 5.8% year-over-year increase in Q3 2015 For the 14th consecutive quarter the remodeling market is seeing positive year-over-year growth, according to the latest Residential Remodeling Index (RRI) released today by Hanley Wood company Metrostudy. It was during Q3 2015 that the RRI reached 102.1, a 1.3% increase from the previous quarter and a 5.8% year-over-year increase. This 5.8% increase represents the strongest annual gain since Q4 2013. The RRI also remained over the 100 mark, which it passed in Q2 2015, indicating that the nation’s remodeling activityRead More
New Home Demand Up in 66% of Metrostudy Markets
Charlotte O'Malley/ BUILDER / November 18, 2015
October new home demand scores show significant improvement since 2014, but many builders are playing a game of catch up, and prepping for Spring will be a sprint. Our October collection of new home and building lot demand in Metrostudy’s 36 markets indicates that typical seasonal decline continues in the majority of markets, but inventory in the pipeline appears stable, and the pace of starts continues to climb. Despite the expected seasonal decline, 66% of regional directors recorded a higher score for new-home demand in October 2015 than in October 2014, and only eight markets decreasedRead More
Caroline Massie / ARCHITECT / August 12, 2015
While compensation gains since 2013 are modest, they have outpaced low inflation levels in the U.S., the biannual report reveals.
Yesterday, the AIA released its biannual Compensation Survey, which provides salary data at U.S. architecture firms. The report reveals that average compensation for staff positions rose 3.5 percent since early 2013 (or 1.75 percent per year), with increases for the major architectural staff categories, which include senior design and project management staff; architects and designers; and interns.
The AIA reports that the compensation gains are modest,Read More
Robert Dietz / NAHB / August 12, 2015
The NAHB’s Robert Dietz reports on the latest Bureau of Labor Statistics data that shows construction job openings fell in June, decreasing from 163,000 in May to 143,000 in June. While the number of unfilled jobs in the sector remains high, the open position rate declined to 2.3%.
The June construction sector hiring rate, as measured on a three-month moving average basis, ticked up to 5.2% after a period of declines that began in March. The quits rate for construction declined slightly to 1.7% in June.
The total employment for the building and remodeling industry currently sits
Heather Taylor / NAHB / 8/4/2015
The NAHB’s Heather Taylor dives into data from HUD’s http://aapharma.com/ American Housing Survey which provides insight into buyer preferences when selecting a home. The top reasons for choosing a home were size, cited by 76% of all http://aapharma.com/generic-celebrex-for-sale.php buyers, followed by room layout/design (74%) and a two-way tie between price and neighborhood (72%). But digging deeper, those priorities vary http://aapharma.com/ among buyers looking for new homes compared to those shopping for existing homes: For buyers of new homes, room layout/design,Read More
BUILDER / August 4, 2015
The nesting habits of millennials are a source of much conjecture in the housing industry. BUILDER pulled together the nine top-line takeaways from the Urban Land Institute’s recent report “Gen Y and Housing: What They Want and Where They Want It.”
Read more on BUILDER.com.
David Crowe / BUILDER / July 21, 2015
The new-home sales market is greatly dependent on the existing-home sales market. Currently, at least 80% of new homes are purchased by buyers who sold an existing home. In better times, when the first-time buyer is more active, repeat buyers’ share could sink to 65% to 70%—still a substantial portion of sales.
The modest housing recovery has slowed existing homeowners’ normal turnover; or existing homeowners’ reluctance has slowed the housing recovery. The cause and effect are difficult to separate although several contributing factors are identifiable.