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
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
Brad Hunter / Metrostudy / August 18, 2014
Housing starts numbers out today surprised many observers with its strength (+15.7%), but we find it to have been in line with our actual counts, released earlier this month. As we predicted, last month’s Census estimate was revised upward, and now the numbers are back in line with the trends revealed by the Metrostudy roll-ups.
The last release of housing starts data from the Census Bureau caused undue alarm about a collapse of activity in the South. The Census release had shown a 29.6% decline for total starts in the South, but as we pointed out at the time, this exaggerated the weakness inRead More
Metrostudy Releases Q2 2014 Residential Remodeling Index (RRI) — Remodeling and Replacement Activity Posts Moderate Gains Through 2Q 2014, But Forecast Firms
Brad Hunter / Metrostudy / August 2014
For Immediate Release
WASHINGTON, D.C. (August 15, 2014) Metrostudy, a Hanley Wood company, announced today the release of its Second Quarter 2014 Residential Remodeling Index (RRI) detailing activity in the remodeling and replacement industry.
The index gained 4.3% in the second quarter, year-over-year, which follows a 6.5% year-over-year increase in the first quarter. Despite the moderation in growth rate, the RRI has posted ten consecutive quarterly improvements and eight consecutive year-over-year increases since the market bottomed at the end of 2011.
The slower growth paceRead More