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.
CNBC / October 30, 2013
U.S. single-family home prices rose in August and also posted their strongest annual gain in more than seven years, a closely watched survey showed on Tuesday.
The Case-Shiller composite index of 20 metropolitan areas rose 0.9 percent on a seasonally adjusted basis, beating economists’ expectation of a 0.6 percent gain. Prices rose 0.6 percent in July.
On a non-adjusted basis, prices rose 1.3 percent.
Compared to a year earlier, prices were up 12.8 percent, beating economists’ expectations of 12.5 percent and marking the strongest gain since February 2006, when the increaseRead More
Alec Friedhoff and Siddharth Kulkarni / Brookings Institution / September 25, 2013
Brookings Institution fellows Alec Friedhoff and Siddharth Kulkarni produce this updated version of the Metro Monitor, which tracks the performance of the 100 largest U.S. metropolitan areas, presenting data for four key indicators-jobs, unemployment, gross product, and home prices-over three time periods. It’s nearly fourth quarter 2013. Do you know where your rebound is?
Nick Timiraos / The Wall Street Journal / September 16, 2013
For the past year, more U.S. housing markets have had the feel of a blowout flea-market sale.
Prices were low and financing—while hard to get—was cheap for those who could get it. Once it was clear prices had found a bottom, bidding wars broke out as buyers competed over a shrinking supply of homes to get a good deal.
That sent prices up—sharply, in many markets—and for a while, buyers didn’t much mind. Falling interest rates made it possible for buyers to offer slightly higher prices without raising their monthly ownership costs.
But now, mortgage rates are up by a full percentage pointRead More
Brad Hunter / Metrostudy / September 4, 2013
Analysis shows that move-up buyers are accelerating purchases, but entry-level buyers may continue to rent.
There was a heated debate over the past few months as to whether higher mortgage rates would have a negative or a positive effect on home sales. One group expected a surge in sales, as people try to beat further price increases. The other camp argued that there would be no surge, and the only effect would be a loss of buyers due to higher monthly payments and fewer affordable homes.
Metrostudy has been tracking the effects of higher mortgage rates on home sales and traffic in new-homeRead More
Shaila Dewan / The New York Times / September 7, 2013
a few months ago, Michael N. Felix’s phone started ringing again after four years of silence. Mr. Felix is a land broker whose business dried up when the housing market crashed. But with home prices now rising faster than anyone expected, builders are again looking for what, in the land trade, is referred to as dirt.
Already, developers report that the cost of land in the most desirable areas is double what it was two years ago. At least three golf courses in the Minneapolis-St. Paul area are being carved into millions of dollars’ worth of residential lots. The race has even sent builders backRead More