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.
Greig O'Brien / ARCHITECT / September 5, 2013
ADP and Moody’s Analytics released their August employment report, which shows continued, steady job growth nationwide.
It appears that August will continue the steady job growth seen over the last couple of months. ADP and their partner, Moody’s Analytics, released their August employment report today, which showed that the economy added 176,000 jobs last month. This was down from July’s initially reported 200,000, but is still higher than the lull we saw this past spring.
July’s numbers were also revised down by 2,000 jobs (to 198,000 jobs added), making lastRead More
REMODELING / August 21, 2013
Top full-service remodelers and home improvement contractors expect $3.84 billion in sales
America’s biggest remodelers expect to see a 19.9% increase in revenue from 2012, while the nation’s largest home improvement contractors are looking for a 14.5% gain this year, the just-issued Remodeling 550 shows.
The top 300 full-service remodelers responding to this year’s survey said that they expect to take in $1.35 billion this year, according to the report in the August issue of REMODELING. That compares with $1.12 billion in 2012 collected on 47,278 jobs at an average valueRead More
The Joint Center for Housing Studies / Harvard University / July 30, 2013
General strengthening in the housing market over the past 18 months is translating into increased spending on home improvements, according to the Leading Indicator of Remodeling Activity (LIRA) released today by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. Remodeling contractors have been reporting improving market conditions for the past four quarters, and are seeing strength in future market indicators. Spending trends have been on a solid upward slope, with the Leading Indicator of Remodeling Activity (LIRA) projecting continuedRead More
David Crowe / NAHB / July 11, 2013
Rising home prices and increasing residential construction have been the clearest signs of the housing rebound that took hold in 2012 and continues into 2013. Data from the start of the summer are consistent with these long-run trends, offering a bright spot in otherwise lackluster economic environment.
Total private residential construction spending increased to a seasonally adjusted annual rate of $328.6 billion in May 2013, the fastest pace of residential construction since October 2008. The reading is 1.2% above the positively revised April estimate and 22% higher over a year ago.Read More
Shobhana Chandra / Bloomberg / July 2, 2013
Joe Chamberlain says he can’t build homes fast enough to keep up with demand. The founder of Caprock Custom Construction Inc. in Rockwall, Texas, has yet to break ground on any of the three houses he sold in May and June.
That’s “an excellent position for a builder to be in,” said Chamberlain, who already has three homes under construction and is just starting work on another. “It ensures we’ll stay busy for a long time and make a profit.”
Almost 36 percent of all U.S. new homes sold in May weren’t yet under construction, close to a seven-year high and signaling sustained strengthRead More