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 / 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
Eye on Housing Blog / NAHB / March 25, 2014
Census and HUD reported February new home sales were down 3.3% from January but the average of the two months was virtually unchanged from the fourth quarter average sales at 447,000. The February seasonally-adjusted annual rate was reported at 440,000 and the January figure was revised downward from 468,000 to 455,000. Considering the rough and unusual weather patterns through a good portion of the country, holding steady in January and February is as good as you could expect.
The inventory of for-sale new homes continues to rise as builders foresee a robust spring selling season. InventoriesRead More
NAHB / Eye on Housing Blog / March 13, 2014
The future of the housing finance system is a key issue for the housing industry as well as the economic makeup of the middle class, given the importance that housing wealth and access to rental housing plays in our economy. These factors and the policies that shape them are of such significant importance that this topic has been selected as a primary issue for NAHB’s 2014 legislative conference, “Bringing Housing Home,”which takes place March 17-21 as home builders and other members of the residential construction industry meet federal lawmakers. As part of this event,Read More
NAHB Eye on Housing Blog / March 5, 2014
After rising during the boom years and falling during the Great Recession, the average size of newly built, multifamily units remains close to levels seen a decade ago. As multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily units is likely to rise.
According to fourth quarter data from the Census Bureau, the average square footage of multifamily housing construction starts was 1,225. The median was 1,131.
Because the quarterly data are volatile, it is worth examining the numbers on a one-year moving average basis. For the thirdRead More