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.
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
Ruth Mantell / Market Watch / September 3, 2013
Racing home prices may be cooling down, shifting the market to a “more sustainable trajectory,” according to a Tuesday research note.
Home prices rose 1% in July, above June’s growth of 0.7%, but down from a recent peak of 1.8% in January, according to seasonally adjusted estimates from research firm Capital Economics.
“This picture, of a gentle easing in the pace of house price growth, is becoming noticeable across many of the house price measures,” according to a note from Paul Diggle, property economist at Capital Economics. “Slowing house price growth is consistent with theRead More
Randy Nelson / Movoto / September 3, 2013
As we make our way out of the traditional home buying season of the summer months, the real estate market as a whole appears to be bucking some recent trends, particularly where inventory is involved. According to Movoto Real Estate’s latest State of the Market report, inventory increased in the past month and is continuing an upward trends as we head into the fall, traditionally the slower months for home buying.
While the market typically sees a decrease in inventory at the end of the summer, the number of homes available actually increased by 2,297, or 2.4 percent, from July to the end of August.Read More
Morgan Brennan / Forbes / August 27, 2013
Home prices continued their upward march in June, if at a slightly slower pace.
U.S single-family home prices in 20 metropolitan areas rose a seasonally-adjusted 0.9% in June from a month earlier, according to the S&P/Case-Shiller Home Price Index, after rising 1% in May.
The gain puts home prices 12.1% higher than they were a year ago, as all 20 metro areas welcomed price increases on both a monthly and annual basis, led by Las Vegas (24.9%) and San Francisco (24.5%). S&P/ Case-Shiller’s 20-city composite index also posted a 7.1% increase in the second quarter and a 10.1% increaseRead More
Michael Neal / NAHB / August 27, 2013
Standard and Poor’s reported that house prices rose in June. According to the most recent release, the S&P/Case-Shiller House Price Index – National Index grew by 7.1% on a not seasonally adjusted basis in the second quarter and 10.1% over the previous four quarters. The House Price Index – 20 City Composite grew by 12.1% over the past year as all 20 cities posted annual gains. Year-over-year house price growth was strongest in Las Vegas, 24.9%, San Francisco, 24.5%, Los Angeles, 19.9%, and Phoenix, 19.8%. Meanwhile, house prices in New York rose by 3.3%.
Standard & Poor’s calculatesRead More