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 / October 17, 2014
The September housing construction report from Census Bureau and HUD rebounded from the unusually low August level and returned to the slow but steady path expected. Total starts rose just above 1 million for the third time in 2014 to an annual level of 1,017,000. Single-family starts increased slightly to 646,000 establishing a third quarter average of 646,000, a 3.4 % increase over second quarter. Regionally, single-family starts were up in the Midwest and West and offset by smaller declines in the Northeast and South.
Multifamily starts (units in buildings with two or more units) increasedRead More
Brad Hunter / Builder / October 17, 2014
Housing starts rose by 6.3% in September, which places activity 17.8% above September of last year, according to the government report just released at 8:30.
Metrostudy’s view about the housing recovery remains unchanged. The total for 2014 will be little changed from 2013, but activity should increase in 2015.
The Top 4 Obstacles
There are still people who *should* be able to get mortgages who cannot (particularly those who work on commissions or bonuses, or are self-employed).
They have yet to help household formation rates, because those
Robert Dietz / Eye on Housing / September 22, 2014
A recent survey of younger Americans illustrates that the goal of homeownership remains an important part of the American Dream.
The economic future of Millennials is key to the future of housing demand. A record number of individuals aged 18 to 34 years are delaying household formation as a consequence of the Great Recession. In a recent post, we referred to this situation as the Great Delay, as slow wage growth and rising student loan burdens have reduced attainment of traditional goals associated with the American Dream, including marriage and homeownership.
An important researchRead More
David Crowe / Eye on Housing / September 19, 2014
Housing starts fell in August, according to the most recent government data, but the NAHB/Wells Fargo Housing Market Index (HMI) rose to a post-recession high. The market data suggest future increases in single-family building as the sector expands to higher levels of activity more consistent with long-run rates of household formation and population growth.
For August, the Census Bureau and HUD reported that the seasonally adjusted annual pace of housing starts was 956,000, 14.4% below the July pace of 1.117 million starts. It is important to note that much of the decline was concentratedRead More
Metrostudy does a 100% count within markets across the country of move-ins into newly-built homes. This is a powerful and reliable measure of end-user demand. The top two markets have outsized percentage changes because they are starting from a low base number. In terms of the large markets, Central Florida has seen a 24.3% increase in new home demand in the past year, and Charlotte, NC, has seen a 23.4%. Atlanta, which was savaged by the downturn, has seen a 22.9% increase. New home construction is picking up in all of these markets, as builders scramble to meet increased demand.Read More