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.
New-home sales in August reached the highest annualized pace since 2008. But many builders and economists still expect sales for this year to underwhelm, ultimately either matching or only slightly exceeding last year’s level.
The reason lies in the difference between the volatility of monthly home-sales figures from the Commerce Department and the underlying trajectory of the market established over the past year. The latter shows a pace, on average, of sluggish but steady growth.
Meanwhile, the frothy gain in August new-home sales reported Wednesday by the Commerce Department canRead More
Shelley D. Hutchins / Builder / June 30, 2014
Higher mortgage rates and a harsh winter slowed down single-family housing starts and sales in the past year. The lack of for-sale homes, both new and existing, is driving prices up, which has resulted in many homeowners gaining needed equity and reduced delinquency rates. However, the number of distressed houses is still high. According to experts from Harvard’s Joint Center for Housing Studies (JCHS), who discussed these topics and more in a live webcast presenting the annual State of the Nation’s Housing report, millennials, minority households, baby boomers, and relaxed creditRead More
Floyd Norris / New York Times / May 30, 2014
ONE way to tell the housing market is beginning to show signs of health would be that builders of new homes are selling more houses than banks do.
We are not there yet, but the gap is narrowing, even as overall home sales slow.
According to calculations by Hanley Wood, a real estate research firm whose Metrostudy division studies deed transfers in about 95 percent of the United States, the areas it covered reported sales of about 74,000 new single-family homes in the first quarter of this year. During the same period, banks sold about twice that number of homes.Read More