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
Jonathan Smoke / Hanley Wood / September 20, 2013
Earlier this week the National Association of Realtors reported that existing home sales were up in August over July when most economists were expecting a decline. Instead, the pace of sales in August was at the highest level since February 2007. Let me make one more important historical comparison. If we exclude 2002-2006 from our data set because of the abnormal level of activity in the heart of the housing boom, there have only been 5 other months in history (going back to 1968) that existing single-family home sales have been higher: January and February 2007, August and December 2001,Read More
Stephen Melman / NAHB / September 19, 2013
Existing home sales increased 1.7% in August, and were up 13.2% from the same period a year ago to the highest level since February 2007. The National Association of Realtors (NAR) reported that August 2013 total existing home sales were at a seasonally adjusted rate of 5.48 million units combined for single-family homes, townhomes, condominiums and co-ops. That compares to 5.39 million units in July, and 4.84 million units during the same period a year ago. The South and Midwest increased 3.8% and 3.1% respectively, while the Northeast remained flat and the West decreased 2.3% from last month.Read More
Jonathan Smoke / Hanley Wood / September 18, 2013
The initial read on August permits and starts showed no evidence of single family construction being derailed by the increase in mortgage rates since May. Permits, which lead starts, were at a total level in line with most economists’ expectations. Single family permits were at the highest seasonally adjusted rate since May 2008. While the total starts number was down, the decline was caused by declines in the more volatile multi-family sector, and in fact single family starts were up 7% in August over July.
We work with more detailed market level permit data from the Census and fromRead More
John McManus / BIG BUILDER / September 18, 2013
Census Bureau data on housing starts and new residential building permits hit the wires this morning, and you don’t get too far into any expert’s explanation of the fresh crop of data before the term “mixed signals” surfaces. Offsetting positives vs. negatives; stressors vs. catalysts; headwinds vs. tailwinds; fundamentals vs. technicals; buzz vs. the trenches are a fact of home building and development’s life.
* Here Calculated Risk’s Bill McBride charts up the latest release in his inimitable way:
His kicker line is this:
“This was below