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.
Jonathan Smoke / Hanley Wood / September 20, 2013
Earlier this week the National Association of Realtors reported that existing home sales were up in August over July when most economists were expecting a decline. Instead, the pace of sales in August was at the highest level since February 2007. Let me make one more important historical comparison. If we exclude 2002-2006 from our data set because of the abnormal level of activity in the heart of the housing boom, there have only been 5 other months in history (going back to 1968) that existing single-family home sales have been higher: January and February 2007, August and December 2001,Read More
Jonathan Smoke / Hanley Wood / September 18, 2013
The initial read on August permits and starts showed no evidence of single family construction being derailed by the increase in mortgage rates since May. Permits, which lead starts, were at a total level in line with most economists’ expectations. Single family permits were at the highest seasonally adjusted rate since May 2008. While the total starts number was down, the decline was caused by declines in the more volatile multi-family sector, and in fact single family starts were up 7% in August over July.
We work with more detailed market level permit data from the Census and fromRead More
John McManus / BIG BUILDER / September 18, 2013
Census Bureau data on housing starts and new residential building permits hit the wires this morning, and you don’t get too far into any expert’s explanation of the fresh crop of data before the term “mixed signals” surfaces. Offsetting positives vs. negatives; stressors vs. catalysts; headwinds vs. tailwinds; fundamentals vs. technicals; buzz vs. the trenches are a fact of home building and development’s life.
* Here Calculated Risk’s Bill McBride charts up the latest release in his inimitable way:
His kicker line is this:
“This was below
Jonathan Smoke / Metrostudy / August 16, 2013
The Commerce Department reported their initial read on new construction this morning: total permits were at a seasonally adjusted annualized rate (SAAR) of 943,000 in July, which represented a 2.7% increase over the upwardly revised June rate. Total starts were at rate of 896,000 in July, which represented a 5.9% increase over the revised June rate. Both series’ totals were roughly in line with consensus expectations, which were fairly lofty mainly because last month’s report showed declines driven mainly by the smaller and more variable multifamily sector.
Wall StreetRead More
Metrostudy Releases Q2 2013 Residential Remodeling Index (RRI)—Remodeling and Replacement Activity Up Significantly
Metrostudy / August 8, 2013
WASHINGTON, D.C. (August 8, 2013) — Remodeling and replacement project activity was stronger in the first half of 2013 than previously forecasted, based on the latest release of the Residential Remodeling Index (RRI) by Metrostudy, a Hanley Wood company. The seasonally adjusted second quarter national composite of the RRI registered a score of 89.1, which was a 1.6 percent improvement over the upwardly revised first quarter result of 87.6.
The increase quarter-to-quarter was the sixth solid consecutive increase after the industry experienced declines in 2011 and reached the bottomRead More