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.
David Crowe / NAHB / April 15, 2015
Home builders reversed their one month decline in sentiment as the April NAHB/Wells Fargo Housing Market Index increased 4 points to 56 from a one-point downwardly revised 52 in March. The bounce back up to the January-February average suggests the March observation was an outlier.
All three components revived to or above the early part of 2015. Current sales index rose 3 points to 61 matching the February level and 1 point below the January report. The expected sales component rose 5 points to 64, the highest in 2015, and the traffic component rose 4 points to 41. The solid and significant increaseRead More
Robert Dietz / Eye on Housing Blog / April 7, 2015
The number of open, unfilled construction sector positions increased noticeably in February. Overall, the construction labor market has been characterized by relatively higher levels of turnover over the last few months, with an increase in hiring and quits at the end of 2014 and an upward trend in job openings.
According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs for February (on a seasonally adjusted basis) increased to 166,000 from an upwardly revised count of 137,000 in January.
The February 2015Read More
Stephen Melman / Eye on Housing Blog / March 20, 2015
The 2014 top ten publicly-traded builders captured a 26.4% share of new single-family home closings, up from 25.3% in 2013. The 26.4% share in 2014 is out of the 439,000 new home sales reported by the Census Bureau. However, this count represents a smaller share of the total single-family market when not-for-sale, custom home building is included.
The 2014 composition of the top ten builders remained unchanged from 2013, but the concentration at the top increased, along with changes in rankings. The top two builders, DR Horton and Lennar, increased their share among the top ten builders toRead More
David Crowe / Eye on Housing Blog / March 16, 2015
The March NAHB/Wells Fargo Housing Market Index dropped two points to 53 from February, the third consecutive monthly decline in the index. While softening during the winter months, the index has remained above 50 since July 2014. Furthermore, of the three components to the index, the expectations for future sales remained steady at 59 (from the downwardly revised February of 59).
The HMI decline was primarily driven by a decline in builders’ judgment of current sales where the index fell three points from 61 to 58. While a reading of 58 is well above the tipping point of 50 where more buildersRead More
Eye on Housing Blog / NAHB / February 23, 2015
According to the Federal Reserve Bank of New York’s latest Household Debt and Credit Report, total household debt outstanding rose by $306 billion, 2.7%, between the fourth quarter of 2013 and the fourth quarter of 2014.
At the end of 2014 there was $11.8 trillion in household debt outstanding. By virtue of its size, the increase in mortgage debt outstanding over the year, $121 billion, accounted for much of the increase in total household credit outstanding. Auto loans, $92 billion, student loans, $77 billion, credit cards, $17 billion, and other consumer debt, $18 billion, also contributedRead More