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.
Stephen Melman / NAHB / September 19, 2013
Existing home sales increased 1.7% in August, and were up 13.2% from the same period a year ago to the highest level since February 2007. The National Association of Realtors (NAR) reported that August 2013 total existing home sales were at a seasonally adjusted rate of 5.48 million units combined for single-family homes, townhomes, condominiums and co-ops. That compares to 5.39 million units in July, and 4.84 million units during the same period a year ago. The South and Midwest increased 3.8% and 3.1% respectively, while the Northeast remained flat and the West decreased 2.3% from last month.Read More
David Crowe / NAHB / September 19, 2013
Housing starts rose 0.9% in August pushed by a solid 7% increase in single-family starts and tempered by an 11% fall in multifamily starts. The single-family increase was broad; all four census regions showed increases ranging from 17.5% in the West to 2.3% in the South. Monthly multifamily starts have saw-toothed up and down for several months with four up months and four down months in 2013.
Housing permits demonstrated the same signal with single-family permits up 3% nationally and up or unchanged in every region. August single-family permits at 627,000 are the highest since May 2008. SimilarRead More
Katie Weeks / ECOBUILDING pulse / September 13, 2013
Dennis Creech’s impressive track record of advocating for high-performance housing and energy efficiency at Southface won over the judges for The Hanley Award for Vision and Leadership in Sustainable Housing. We recently sat down with Creech to chat about his approach to bringing together multiple players to advance sustainable housing, his perspective on the industry over the past 30 years, and what he plans to do with the $50,000 cash prize of The Hanley Award.Read More
John McManus / BIG BUILDER / September 17, 2013
This morning, a fresh reading comes through on home building’s closest approximation of changes in confidence among those who make a living doing it. Signal or noise? Clearly, housing’s data trends are forming quite the Hell’s Gate of tricky, swift and difficult-to-navigate currents and cross-currents. Here, we explore less about what you need to know–given that so much is either contradictory or uncertain–and more about a few things you may need to do.
Our simplest, most elegant, and best sense of what’s changing in the market is not the noise interestRead More
Nick Timiraos / The Wall Street Journal / September 16, 2013
For the past year, more U.S. housing markets have had the feel of a blowout flea-market sale.
Prices were low and financing—while hard to get—was cheap for those who could get it. Once it was clear prices had found a bottom, bidding wars broke out as buyers competed over a shrinking supply of homes to get a good deal.
That sent prices up—sharply, in many markets—and for a while, buyers didn’t much mind. Falling interest rates made it possible for buyers to offer slightly higher prices without raising their monthly ownership costs.
But now, mortgage rates are up by a full percentage pointRead More