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.
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
Forbes / July 26, 2013
Fitch Ratings compiled Forbes‘ list of the five most overvalued and five most undervalued housing markets, broken down as Metropolitan Statistical Areas, in the U.S. based on its quarterly Sustainable Home Price model.Read More
Ruth Mantell / MarketWatch / July 22, 2013
Tight inventory, pent-up demand and investors supporting demand
Despite large gains over the past year, home prices in cities across the U.S. remain below peak levels, according to data from the widely followed S&P/Case-Shiller report.
WASHINGTON (MarketWatch) — As home prices rise, so are concerns that a new housing-market bubble may be appearing, particularly in cities with double-digit annual growth rates.
Are there red flags in recent data?
“I wouldn’t say that we have bubbles today. But if prices keep rising at these rates, pretty soon you will be in bubble territory,”Read More
Stephen Melman / NAHB / July 22, 2013
Existing home sales decreased 1.2% in June, but were up 15.2% from the same period a year ago. The National Association of Realtors (NAR) reported that June 2013 total existing home sales were at a seasonally adjusted rate of 5.08 million units combined for single-family homes, townhomes, condominiums and co-ops. That compares to a downwardly revised 5.14 million units in May, and 4.41 million units during the same period a year ago. The Midwest reported the same sales level as the previous month, and the other three regions decreased slightly. All regions were up from a year ago: 17.5% in theRead More
Les Christie / CNN/Money / July 18, 2013
If history is any indication, the recent spike in mortgage rates is going to have little to no impact on home prices, according to a new report from Fannie Mae.
After looking at mortgage rates going back to 1990, Fannie Mae’s researchers came to the surprising conclusion that while rising rates were likely to hurt the number of home sales, they had virtually no impact on home prices.
“History suggests that interest rate increases at the level recently witnessed will not stop the current housing recovery,” the report said.
The study, which compared historic mortgage ratesRead More