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 / August 6, 2014
The government release on housing starts for June showed a sharp decline, concentrated in what the Census Bureau defines as “The South.” Single-family starts were down in June by 9.0% from the previous month, and down 4.3% from twelve months earlier. Within that number, almost all the decline was in the South, down 20.1% versus the previous month and down 14.5% versus a year ago.
Rumors of the South’s demise are greatly exaggerated.Read More
Brad Hunter / Metrostudy / July 24, 2014
New home sales data from the Census Bureau showed a drop of 8.1% on a seasonally-adjusted basis. The decline since the beginning of the year comes to 11%.
The northeastern U.S. markets slowed sharply.
In June, and so far in July, we are back to a situation where home shoppers are shopping but a relatively small proportion of them are actually buying. This is explained in some cases by a long lead time (people taking longer to make a decision), and in other cases by a complete reluctance to buy.
Here is a look at the last year in New Home Sales by region showing sales have decreased slightly over theRead More
Bad Hunter / Metrostudy / July 17, 2014
Housing starts for June SURPRISED on the downside! Jobs are better, and builders seem more confident, yet the June number was down 9.3% month-over-month (9.0% for single-family detached).
My forecast for 2014, just revised to account for the latest data, is for a 9% increase in total home starts (annual total for 2014 versus annual total for 2013), and for a 6% increase in single-family construction.Read More
Brad Hunter / Metrostudy / June 17, 2014
New housing starts data from Census just came out, showing both single-family and multifamily DOWN. Single-family starts fell 5.9% (plus or minus 12.7%) in May compared with April, according to Census. They revised downward their crazy (high) estimate for multifamily (thank goodness we didn’t build that many apartments). The number is still up 9.4% over last May.
To steal a title from Douglas Adams (Hitchhiker’s Guide to the Galaxy): Don’t Panic. Don’t panic about the drop in single-family; looking past the monthly noise, the trend is still upward.Read More
Bloomberg / June 3, 2014
Brad Hunter, chief economist at Metrostudy in Palm Beach Gardens, Florida, says new home sales are moving higher as the traffic of potential buyers at building sites decide to buy homes and finally become “conversions.” He says better news on the job market is fuelling the trend. Hunter says older buyers continue to do all cash deals in many regions, and the level of mortgage rates is not yet a big factor for many buyers. Hunter speaks with Bloomberg’s Kathleen Hays on Bloomberg Radio’s “The Hays Advantage.”