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
National Association of Home Builders / May 8, 2014Read More
John Crosby / HW.com / December 18, 2013
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for November 2013:
Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,007,000. This is 3.1 percent (±1.1%) below the revised October rate of 1,039,000, but is 7.9 percent (±1.6%) above the November 2012 estimate of 933,000.
Single-family authorizations in November were at a rate of 634,000; this is 2.1 percent (±1.1%) above the revised OctoberRead More
Jonathan Smoke and Brad Hunter / Metrostudy / December 18, 2013
From Hanley Wood’s Chief Economist, Jonathan Smoke:
Today new housing starts were released by the U.S Department of Commerce for September through November following the delay in data releases created by the October shutdown. Following the last revision of August housing starts at a seasonally adjusted annual rate of 883,000, there was a slight decline seen in September of 1% but starts have since been on the rise for the two most recent months. October starts showed a modest increase over September to reach 889,000 starts while November saw significant gains with starts over one millionRead More