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 / February 11, 2015
The end of 2014 saw an acceleration of job creation that compared favorably with the poor start to the year. Combined with the ongoing expansion of consumer confidence, these trends will help support housing demand and residential construction during 2015.
The Bureau of Labor Statistics (BLS) reported that payroll employment expanded by 257,000 in January, with an additional 147,000 jobs reported in November and December after data revisions. The unemployment rate inched up to 5.7% in January from 5.6% in December, which is in fact a positive development as this change was due to more individualsRead More
Brad Hunter / Metrostudy / November 19, 2014
Taken in total, the housing starts data paint a picture of boring, flat, lackluster performance in 2014. Dig deeper into the data, however, and you see a much more dynamic picture. The year is not over yet, but from the data we have collected first-hand, on nearly 100 metropolitan statistical areas in the country, we see markets ranging from a 21% decline in the past four quarters to a 45.8% increase!
Let’s look at a few of the stand-outs. The data below indicate the percentage change in single-family detached starts from 3Q13 through 3Q14.
In Southwest Florida, the Naples/Ft. Myers market’sRead 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
NAHB / May 13, 2014Read More
Jonathan Smoke / Hanley Wood / March 1, 2014
The first read of January new home sales from the Commerce Department was released last week. Economists had been expecting a decline of 3-4 percent from December on a seasonally adjusted basis, but instead a 10 percent increase was reported. That decline stood out compared to the existing home sales January report last week. Looking at the new data, Metrostudy’s more detailed traffic and sales data, and recent survey data on consumers’ plans to buy a home, we continue to expect that we will see a positive bounce once winter ends and the spring selling season begins in earnest.