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 / July 10, 2014
Housing news continued to improve as pending home sales surged following a slow first quarter. Home prices also continued to move higher but at a more moderate pace, suggesting the extra push caused by investors may be slowing. Economic news, however, was mixed. Consumer confidence increased in response to improving labor market conditions. On the other hand, new estimates from the first quarter revealed a steeper decline in real GDP. Early indications are that real GDP will reverse course from a dismal first quarter and gains in housing will continue the pace set before the end of 2013.
Brad Hunter / Metrostudy / June 30, 2014
Housing always swings much more wildly up and down than does the general economy. A survey that came out a couple of weeks ago drove home for me the reason why. The recent survey, from Hart/MacArthur, said that 7 in 10 people believe we are still in the middle of the [housing/economy] crisis, or that the worst is yet to come. That seems unduly pessimistic, given that job growth is improving, and that can only help incomes and housing demand.Read More
NAHB Eye on Housing / June 17, 2014
Census and HUD reported a decline in May housing starts and permits, but the headline numbers do not tell the whole story. First, the driver in the declines in both starts and permits was multifamily apartment construction, which was down to 376,000 starts (-7.6%) and to 372,000 permits (-19.5%). But the three-month moving average for multifamily starts is still the best since February 2006 and the decline is more the result of an extraordinarily high April. The same trend was evident in the multifamily permits, which adjusted downward after scoring a seven year high in April.
Second, single-familyRead 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
Eye on Housing / NAHB / November 14, 2013
Strengthening house prices and increased interest rates in metros across the country contributed to lower housing affordability in the third quarter, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI).
In all, 64.5 percent of new and existing homes sold between the beginning of July and end of September were affordable to families earning the U.S. median income of $64,400. This is down from the 69.3 percent of homes sold that were affordable to median-income earners in the second quarter, and the biggest HOI decline since the second quarterRead More