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.
John McManus / BUILDER magazine / December 11, 2013
Toll Brothers net income for Q4 was just shy of a nice round $100 million. It’s full fiscal year and fourth quarter earnings release blasted this morning to a chorus of kudos from home building company equity analysts. Here’s the link to Wall Street Journal staffer Ben Fox Rubin’s take on the earnings report (paywall).
Our preliminary take-away is this. Toll Brothers management and team held a clinic on how to manage their enterprise, given the opportunities that surfaced early last year and crescendoed this past Spring. It’s an organization that knowsRead More
Metrostudy News / November 12, 2013
2013 marches on with continued optimism, albeit perhaps slightly more cautiously so than in quarters past, according to a recent report by Metrostudy, a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market.
Northern California Annual Housing starts are UP 62% from 3Q12, while closings are UP 45%. Quarterly new home closings are UP 27% from 3Q12. The annual start pace is at the highest level since 2Q08 and the annual closing rate is nearly as high as 3Q10. Closings have been outpacing starts forRead More
Jonathan Smoke / Metrostudy / November 12, 2013
Hanley Wood Chief Economist Jonathan Smoke delivers a deep analysis of the current state of the homebuilding and remodeling markets; offers a forecast for the remainder of 2013; and provides an outlook on the 2014 market.Read More
Shayndi Raice / WSJ.com / November 6, 2013
Bank of America Chief Executive Brian Moynihan said the U.S. housing market is “fairly stable” at a Wall Street Journal event in New York Wednesday.
Big banks have seen their mortgage banking income decline in recent quarters as refinancing activity fizzles. But Mr. Moynihan said that a decrease in refinancing activity is not indicative of the strength of the overall U.S. housing market. Instead, he said that home purchases, which have grown slightly since the beginning of the year, are what spurs broader economic growth.
The head of second-largest U.S. bank by assets also saidRead More
CNBC / October 30, 2013
U.S. single-family home prices rose in August and also posted their strongest annual gain in more than seven years, a closely watched survey showed on Tuesday.
The Case-Shiller composite index of 20 metropolitan areas rose 0.9 percent on a seasonally adjusted basis, beating economists’ expectation of a 0.6 percent gain. Prices rose 0.6 percent in July.
On a non-adjusted basis, prices rose 1.3 percent.
Compared to a year earlier, prices were up 12.8 percent, beating economists’ expectations of 12.5 percent and marking the strongest gain since February 2006, when the increaseRead More