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.
Jonathan Smoke / HW.com / February 19, 2014
The Commerce Department reported initial data on permits and starts in January today, and the numbers appeared quite negative, but my take is that we are seeing the impact of multiple factors and none are factors that should cause any alarm for expectations for the year.
Forecasters had been expecting declines in both permits and starts from December of 1 percent and 5 percent respectively. Instead, the month-over-month changes in the seasonally adjusted numbers were declines of 5.4 and 16 percent.
To begin with, note that the December numbers were both revised upward. PermitsRead More
Eye on Housing Blog / NAHB / January 8, 2013
The prospects for home building in 2014 are bright. NAHB is forecasting a nearly 25% gain in total housing starts, with a 32% pickup in single-family construction. And the coming year will come atop the gains of 2013. NAHB expects that the final numbers will show that housing starts expanded almost 18% last year to a total of 921,000.
November housing starts data from the Census and the Department of Housing and Development show an uptick after weakness in home construction during the fall. Total housing starts topped an annualized pace of one million, the first time since 2008. Single-familyRead 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
Kris Hudson / The Wall Street Journal / September 18, 2013
Home builders got a double boost on Wednesday from a report of resilient construction of single-family homes in August and the Federal Reserve’s decision to continue efforts to boost the economy and keep interest rates low.
Still, many housing-market observers see signs of a continued slowdown in price increases for new homes and possibly for new-home sales as well.
The Fed’s decision Wednesday afternoon to maintain its quantitative easing program for keeping interest rates low helped push the Dow Jones U.S. Home Construction Total Return Index to a 5.9% gain by the end of Wednesday.Read More