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.
Reuters / June 23, 2014
U.S. home resales rose more than expected in May and the stock of properties for sale was the highest in more than 1-1/2 years, suggesting that housing was pulling out of a recent slump.
The National Association of Realtors said on Monday existing home sales increased 4.9 percent to an annual rate of 4.89 million units. May’s increase was the largest since August 2011.Read More
Jonathan Smoke / Metrostudy / May 22, 2014
With all of the misdirected hand-wringing over the alleged stalling of the housing rebound in 2014, you would have thought that economists and analysts would have expected another slight decline in existing home sales to be reported by the National Association of Realtors (NAR) this morning. But, instead they were expecting a 2 percent increase to an annualized rate of 4.69 million from the 4.59 million initially reported in March. The actual report from NAR set the initial April reading at 4.65 million, an increase of 1.3 percent from the unrevised March rate of 4.59 million.
For severalRead More
Jonathan Smoke / Hanley Wood / March 20, 2014
Economists were expecting another slight decline in existing home sales in February. The report this morning from the National Association of Realtors (NAR) set the initial February reading at 4.60 million, a decline of 0.4 percent. No one should fear this as a harbinger of housing deteriorating—it’s actually a reflection of the existing home market getting better.
But better is not necessarily bigger. Better is a result of having more of what we want to see and less of what we don’t want to see. While the overall volume is declining slightly, we are seeing that outcome as a resultRead More
Metrostudy News / November 12, 2013
2013 marches on with continued optimism, albeit perhaps slightly more cautiously so than in quarters past, according to a recent report by Metrostudy, a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market.
Northern California Annual Housing starts are UP 62% from 3Q12, while closings are UP 45%. Quarterly new home closings are UP 27% from 3Q12. The annual start pace is at the highest level since 2Q08 and the annual closing rate is nearly as high as 3Q10. Closings have been outpacing starts forRead More
Lorraine Woellert / Bloomberg / October 21, 2013
Purchases of previously owned U.S. homes fell in September for the first time in three months, retreating from an almost four-year high as rising prices and mortgage rates discouraged would-be buyers.
Sales dropped 1.9 percent to a 5.29 million annual rate, the National Association of Realtors reported today in Washington. The median forecast of 67 economists in a Bloomberg survey called for the pace to slow to 5.3 million. Prices climbed 11.7 percent, pushing affordability to an almost five-year low, the group said.
Higher borrowing costs will probably hold back demand, slowingRead More