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.
Metrostudy Releases Q2 2013 Residential Remodeling Index (RRI)—Remodeling and Replacement Activity Up Significantly
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 theRead More
John McManus / BUILDER / June 25, 2013
A housing data trifecta–prices, new home sales, and consumer confidence–beneath the June mega-moon
A housing data trifecta–CoreLogic S&P/Case-Shiller house price indexfor April, the Census Bureau’s New Home Sales report for May, and the Conference Board consumer confidence index–all takes place by 10 a.m. EDT, today. Case-Shiller, a trailing indicator, but one that has Animal Spirits market-making impact, eclipsed Wall Street expectations.
The question for home builders, architects, building products manufacturers, materials suppliers,Read More
Jonathan Smoke / Hanley Wood / June 20, 2013
Hanley Wood’s chief economist, Jonathan Smoke takes a look at the numbers and the state of the housing market.
When looking for evidence that the housing market is recovering, some big numbers on key conditions make a compelling case:
- New home starts for Metrostudy survey markets are up substantially at a 40% increase over starts from the same period last year. California leads in growth with huge gains up and down the coast, but we’re also seeing significant recovery in markets like Sarasota and Las Vegas.
- Residential construction spending is up correspondingly with the increase
Lucia Mutikani / Reuters / June 19, 2013
Where have all the carpenters gone? Home builders across the United States are scratching their heads for an answer as they struggle to assemble crews to keep up with growing demand.
In some parts of the country, the shortage of skilled carpenters – especially framers – is so bad that builders cannot get projects off the ground and it is taking as much as two months longer than normal to complete a project.
“Right now I have framing material sitting on the job site with the foundation on the ground,” said Stephen Paul, executive vice president at Mid-Atlantic BuildersRead More
Metrostudy Q1 2013 Residential Remodeling Index (RRI)—Remodeling and Replacement Starts 2013 Better Than Expected
WASHINGTON, D.C. (May 8, 2013) — Remodeling and replacement project activity ended 2012 better than previously estimated and first read of the first quarter of 2013 shows activity up much more than originally forecasted, based on the latest release of the Residential Remodeling Index (RRI) by Metrostudy, a Hanley Wood company. The seasonally adjusted first quarter national composite of the RRI registered a score of 86.3, which was a 1.1 percent improvement over the revised fourth quarter result of 85.3.
The increase quarter-to-quarterRead More