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.
David Crowe / Eye on Housing / October 17, 2014
The September housing construction report from Census Bureau and HUD rebounded from the unusually low August level and returned to the slow but steady path expected. Total starts rose just above 1 million for the third time in 2014 to an annual level of 1,017,000. Single-family starts increased slightly to 646,000 establishing a third quarter average of 646,000, a 3.4 % increase over second quarter. Regionally, single-family starts were up in the Midwest and West and offset by smaller declines in the Northeast and South.
Multifamily starts (units in buildings with two or more units) increasedRead More
Natalia Siniavskaia / Eye on Housing / October 10, 2014
Looking at single-family homes started in 2013, new NAHB research quantifies regional differences in sale and contract prices per square foot. The prices excluding lot values range from $145 per square foot for contractor-built homes in the Pacific division to $73 per square foot for speculatively-built homes in the West South Central division.
The NAHB analysis is based on the Survey of Construction (SOC) data. The survey information comes from interviews of builders and owners of the selected new houses. The SOC differentiates between houses built for sale, houses built by contractors,Read More
Robert Dietz / Eye on Housing / September 22, 2014
A recent survey of younger Americans illustrates that the goal of homeownership remains an important part of the American Dream.
The economic future of Millennials is key to the future of housing demand. A record number of individuals aged 18 to 34 years are delaying household formation as a consequence of the Great Recession. In a recent post, we referred to this situation as the Great Delay, as slow wage growth and rising student loan burdens have reduced attainment of traditional goals associated with the American Dream, including marriage and homeownership.
An important researchRead More
David Crowe / Eye on Housing / September 19, 2014
Housing starts fell in August, according to the most recent government data, but the NAHB/Wells Fargo Housing Market Index (HMI) rose to a post-recession high. The market data suggest future increases in single-family building as the sector expands to higher levels of activity more consistent with long-run rates of household formation and population growth.
For August, the Census Bureau and HUD reported that the seasonally adjusted annual pace of housing starts was 956,000, 14.4% below the July pace of 1.117 million starts. It is important to note that much of the decline was concentratedRead More
Paul Emrath / Eye On Housing / August 14, 2014
Housing affordability dipped slightly in the second quarter of 2014 as several markets saw a firming of home prices, according to the NAHB/Wells Fargo Housing Opportunity Index (HOI). Nationwide, the second quarter HOI was 62.6—i.e., 62.6 percent of new and existing homes sold during the quarter were affordable to a family earning the U.S. median income of $63,900—down about three percentage points from the first quarter reading of 65.5.
The latest readings reflect a slow but steady march toward historically normal appreciation and interest rates, producing an HOIRead More