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
Bad Hunter / Metrostudy / July 17, 2014
Housing starts for June SURPRISED on the downside! Jobs are better, and builders seem more confident, yet the June number was down 9.3% month-over-month (9.0% for single-family detached).
My forecast for 2014, just revised to account for the latest data, is for a 9% increase in total home starts (annual total for 2014 versus annual total for 2013), and for a 6% increase in single-family construction.Read More
NAHB Eye on Housing / June 17, 2014
Census and HUD reported a decline in May housing starts and permits, but the headline numbers do not tell the whole story. First, the driver in the declines in both starts and permits was multifamily apartment construction, which was down to 376,000 starts (-7.6%) and to 372,000 permits (-19.5%). But the three-month moving average for multifamily starts is still the best since February 2006 and the decline is more the result of an extraordinarily high April. The same trend was evident in the multifamily permits, which adjusted downward after scoring a seven year high in April.
Second, single-familyRead More
Jonathan Smoke / Hanley Wood / March 20, 2014
Economists were expecting another slight decline in existing home sales in February. The report this morning from the National Association of Realtors (NAR) set the initial February reading at 4.60 million, a decline of 0.4 percent. No one should fear this as a harbinger of housing deteriorating—it’s actually a reflection of the existing home market getting better.
But better is not necessarily bigger. Better is a result of having more of what we want to see and less of what we don’t want to see. While the overall volume is declining slightly, we are seeing that outcome as a resultRead More