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.
Michael Neal / NAHB / August 22, 2013
Nationally, house prices continued to rise in the second quarter of 2013. According to the most recent release by the Federal Housing Finance Agency, U.S. house prices rose by 2.1% on a quarter-over-quarter seasonally adjusted basis. This is the eighth consecutive quarterly increase for the House Price Index – Purchase Only. Over the past two years house prices have climbed by 8.1%.
On a month-over-month basis, the June increase in house prices were geographically widespread, increasing in every division of the country. As Chart 1 illustrates, the largest gains took place in the PacificRead More
Jed Kolko / Trulia / July 30, 2013
In June, the housing market was 54% back to normal, down from 60% in May. But looking back at the first half of 2013 reveals a housing recovery that’s moving ahead with few red flags.
Instead of our usual monthly Housing Barometer, we’re taking a mid-year temperature check of the housing market while looking ahead at what to expect throughout the rest of this year. All three of our regular Housing Barometer measures – new construction starts, existing home sales, and the delinquency + foreclosure rate – stumbled in June, pushing the recovery down from 60% “back to normal” in
Joel Kotkin and Wendell Cox / newgeography / July 30, 2013
A city at its best, wrote the philosopher René Descartes, provides “an inventory of the possible.” The city Descartes had in mind was 17th-century Amsterdam, which for him epitomized those cities where people go to change their circumstances and improve their lives. But such aspirational cities have existed throughout American history as well, starting with Boston in the 17th century, Philadelphia in the 18th, New York in the 19th, Chicago in the early 20th, Detroit in the 1920s and 1930s, followed by midcentury Los Angeles, and San Jose in the 1980s.
Yes, the great rule of aspirationalRead More
Michael Neal / NAHB / July 31, 2013
Following 19 consecutive months of year-over-year declines, house prices registered their twelfth consecutive year-over-year increase in May. Over this twelve month period, the S&P/Case-Shiller House Price Index – 20 City Composite grew by 12.2% on a not seasonally adjusted basis while the 10 City Composite rose by 11.8%. House prices in Phoenix registered their 9th consecutive month of year-over-year returns above 20.0% in May, rising by 20.6%. House prices in San Francisco (24.5%), Atlanta (20.1%), and Las Vegas (23.3%) also experienced year-over-year house price growthRead More
Morgan Brennan / Forbes / July 26, 2013
The U.S. housing recovery continues to make gains. New home sales have surged 38% since last year, hitting a five-year high in June, according to the newest figures from the Commerce Department. And despite a monthly drop in activity, sales of previously owned homes remain 15% higher than last year as well, according to the National Association of Realtors.
If housing in the first six months of 2013 could be summed up in one sentence, it would go something like this: Inventory is painfully tight, sales activity is surging and home prices have jumping.
Now real estate experts are sounding off onRead More