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.
Eye on Housing / June 30, 2014
Pending home sales in May posted the largest monthly increase since the expiration of the first-time home buyer tax credit in April 2010. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased 6.1% in May to 103.9 from an upwardly revised April level of 97.9. It is important to note that the May reading was down 5.2% on a year-over-year basis.Read 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
Brad Hunter / Metrostudy / June 17, 2014
New housing starts data from Census just came out, showing both single-family and multifamily DOWN. Single-family starts fell 5.9% (plus or minus 12.7%) in May compared with April, according to Census. They revised downward their crazy (high) estimate for multifamily (thank goodness we didn’t build that many apartments). The number is still up 9.4% over last May.
To steal a title from Douglas Adams (Hitchhiker’s Guide to the Galaxy): Don’t Panic. Don’t panic about the drop in single-family; looking past the monthly noise, the trend is still upward.Read More
Brad Hunter / Metrostudy / May 2, 2014
Metrostudy has just completed its comprehensive first-quarter 2014 nationwide research. The research is conducted every quarter at the subdivision level, where Metrostudy’s field researchers count activity on the ground, lot by lot and house by house. Metrostudy counts actual starts, inventory, lot supplies, move-ins and other key statistics every quarter in 30,000 subdivisions nationwide. The company deploys a team of 350 trained researchers to count every start, lot, and inventory home in every subdivision in the markets it covers nationwide.
Highlights from this Quarter’sRead More
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