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.
Joshua J. Miller / NAHB / September 20, 2013
According to a recent report by the Census, married couples with children account for only 19.6% of all households in the U.S. The new figure represents a drop of 4.5 percentage points from 2000 when 24.1% of all households in the U.S. were married couples with children. The share of total households in 1970 was 40.3%.
As the share of households that include married couples with children decreased, one-person households and other household types rose. The share of one-person households increased from 17.1% in 1970 to 27.5% in 2012.
The dramatic decline in married households with childrenRead More
Brad Hunter, chief economist / Metrostudy / July 24, 2013
Today’s New Home Sales figure confirmed that demand is staying strong in spite of higher mortgage rates. Sales of new single-family homes rose 8.3% for the month, and 38.1% compared with one year ago.
The story on higher mortgage rates is a “tale of two buyers.” The entry-level buyer has pulled back somewhat, but the move-up buyer has found a new sense of urgency to buy, to beat further increases in mortgage rates and further price hikes.
Household formation rates continue to rise, and that is fueling new home demand. Early readings of our new 2nd quarter data show positive readingsRead More
Brent Nyitray / Market Realist / July 16, 2013
Low household formation numbers over the past five years will drive homebuilder demand going forward
Since the financial crisis began, demand for new construction has fallen, as household formation numbers have dropped. The low household formation numbers have been driven by a poor economy—not by demographics. This represents pent-up demand that must be satisfied in the future.
This series will discuss household formation numbers historically and over the past few years. We’ll compare those numbers with housing starts and show that there’s tremendous pent-up demand for housing,Read More