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.
Floyd Norris / New York Times / May 30, 2014
ONE way to tell the housing market is beginning to show signs of health would be that builders of new homes are selling more houses than banks do.
We are not there yet, but the gap is narrowing, even as overall home sales slow.
According to calculations by Hanley Wood, a real estate research firm whose Metrostudy division studies deed transfers in about 95 percent of the United States, the areas it covered reported sales of about 74,000 new single-family homes in the first quarter of this year. During the same period, banks sold about twice that number of homes.Read More
Prashant Gopal / Bloomberg News / May 28, 2014
Jaimie Adler said it’s getting cramped in the Lexington, Massachusetts, house she shares with her husband, two daughters and an au pair who occupies the former office. They’d sell, Adler said, if more homes were on the market in the Boston suburb.
Adler is staying put — and she’s not alone. The dearth of residential listings nationwide is now feeding on itself, with homeowners such as Adler reluctant to sell because of the difficulty in finding a place to buy. For others who refinanced into historically low interest rates, the prospect of rising borrowing costs makes selling lessRead More
Jonathan Smoke / Hanley Wood / May 22, 2014
Was there an economist or Wall Street analyst gathering in Colorado earlier this month that no one told me about? I’m looking at consensus expectations for the April new home sales tomorrow to come in at an annualized rate of 425,000 or an increase of 11 percent over March. This follows positive expectations for existing home sales as well despite all of the recent negativity about the housing recovery stalling. What could they be smoking to be so positive about April yet so negative in commentary?
I didn’t go to Colorado but I have been all around the country in recent weeks where I’veRead More
Jonathan Smoke / Metrostudy / May 22, 2014
With all of the misdirected hand-wringing over the alleged stalling of the housing rebound in 2014, you would have thought that economists and analysts would have expected another slight decline in existing home sales to be reported by the National Association of Realtors (NAR) this morning. But, instead they were expecting a 2 percent increase to an annualized rate of 4.69 million from the 4.59 million initially reported in March. The actual report from NAR set the initial April reading at 4.65 million, an increase of 1.3 percent from the unrevised March rate of 4.59 million.
For severalRead More
Jonathan Smoke / HW.com / March 26, 2014
The first read of February new home sales from the Commerce Department was released this week. Economists had been expecting a decline of 5 percent from January on a seasonally adjusted basis, but instead a non-statistically significant 3.3 percent decrease was reported. Remember that last week we saw existing home sales decline moderately in aggregate but the mix of what is being sold was much better. Looking at the new data along with Metrostudy’s more detailed traffic and sales data and recent survey data on consumers’ plans to buy a home, we continue to see encouraging signs thatRead More