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 / Metrostudy / November 19, 2014
Taken in total, the housing starts data paint a picture of boring, flat, lackluster performance in 2014. Dig deeper into the data, however, and you see a much more dynamic picture. The year is not over yet, but from the data we have collected first-hand, on nearly 100 metropolitan statistical areas in the country, we see markets ranging from a 21% decline in the past four quarters to a 45.8% increase!
Let’s look at a few of the stand-outs. The data below indicate the percentage change in single-family detached starts from 3Q13 through 3Q14.
In Southwest Florida, the Naples/Ft. Myers market’sRead More
Index Posts 3.3% Year-Over-Year Gain, Forecast For a 2015 Firming Remains Unchanged
WASHINGTON, DC (November 13, 2014) — Metrostudy, a Hanley Wood company, announced today the release of its Third Quarter 2014 Residential Remodeling Index (RRI) detailing activity in the remodeling and replacement industry.
On a seasonally adjusted basis, the index posted a gain of 3.3% year-over-year in the third quarter. While the rate of growth was slower than the prior quarter, the RRI has now posted ten consecutive quarters with positive year-over-year gains since the market bottomed at the endRead More
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
Metrostudy does a 100% count within markets across the country of move-ins into newly-built homes. This is a powerful and reliable measure of end-user demand. The top two markets have outsized percentage changes because they are starting from a low base number. In terms of the large markets, Central Florida has seen a 24.3% increase in new home demand in the past year, and Charlotte, NC, has seen a 23.4%. Atlanta, which was savaged by the downturn, has seen a 22.9% increase. New home construction is picking up in all of these markets, as builders scramble to meet increased demand.Read More
Brad Hunter / Builder / September 18, 2014
Today’s government data release on housing starts showed a 14.4% decline in the month of August, mostly driven by multifamily. Single-family detached home construction was only down 2.4% on the month. Total starts are still 8.0% higher than August of last year, and single-family starts are still 4.2% above the year-ago pace.
The apparent stagnation in national housing starts is not universal. Looking deeper, and using Metrostudy’s more granular detail, we see that certain markets have seen considerable strength. In our local-market tracking, we are still seeing significantRead More