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.
Nick Timiraos / The Wall Street Journal / September 12, 2013
Housing inventories increased in August and stood just 2.5% below their levels of a year ago, offering the latest sign that more sellers are testing the market after swift home-price gains over the past year.
Nationally, there were 1.98 million homes listed for sale in August, according to a report released Thursday by Realtor.com. That was up by more than 24% from the low point in February and up 1% from July. Inventories have increased for six straight months.
While the overall level of homes for sale remains relatively depressed, the report suggests that inventory may have hit a bottom earlierRead More
Tim Ellis / Redfin / August 5, 2013
Speed Comparable to February 2013
The percentage of homes that went under contract within two weeks decreased from 31.9 percent nationwide in May to 30.5 percent in June as inventory growth continued to ease the pressure on buyers to act fast. Although the market now slowed two months in a row, it was still faster in June than it has been in years. A year ago only 23.2 percent of homes were under contract in less than two weeks—two year ago it was just 14.3 percent.
“Bay Area listings are now getting significantly fewer offers than just a couple of months ago, but homebuyers are still acting quicklyRead More
David Crowe / NAHB / July 25, 2013
Economic and housing data continue to describe a modest recovery for housing that will lead to higher levels of construction activity in the years ahead. While some recent information illustrates that there will be ups and downs along the way, current fundamentals indicate rising demand and insufficient housing inventory.
Mortgage interest rates have risen, but thus far there is no evidence to suggest that these increases have changed the overall improving trend for housing. Qualifying for a mortgage, including accumulating the necessary downpayment, remains a larger challenge forRead More
Ruth Mantell / MarketWatch / July 22, 2013
Tight inventory, pent-up demand and investors supporting demand
Despite large gains over the past year, home prices in cities across the U.S. remain below peak levels, according to data from the widely followed S&P/Case-Shiller report.
WASHINGTON (MarketWatch) — As home prices rise, so are concerns that a new housing-market bubble may be appearing, particularly in cities with double-digit annual growth rates.
Are there red flags in recent data?
“I wouldn’t say that we have bubbles today. But if prices keep rising at these rates, pretty soon you will be in bubble territory,”Read More
New home sales surged forward in January and inventories dipped to their lowest in 8 years as housing demand continues to return. On an annual seasonally-adjusted basis, new homes sold at a 437,000 pace in January, up 15.6% from December and 28.9% from a year ago. The improvement was broad based in all four regions. The surge in sales and already low inventories reduced the month’s supply to 4.1 months, the lowest since March 2005.
Sales rebounded in the Northeast from a low in December because of the after-effects of Sandy and also advanced 45% in the West as California and Arizona markets in particularRead More