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.
Stephen Melman / NAHB / September 19, 2013
Existing home sales increased 1.7% in August, and were up 13.2% from the same period a year ago to the highest level since February 2007. The National Association of Realtors (NAR) reported that August 2013 total existing home sales were at a seasonally adjusted rate of 5.48 million units combined for single-family homes, townhomes, condominiums and co-ops. That compares to 5.39 million units in July, and 4.84 million units during the same period a year ago. The South and Midwest increased 3.8% and 3.1% respectively, while the Northeast remained flat and the West decreased 2.3% from last month.Read More
Rick Judson / BUILDER / September 16, 2013
The International Builders’ Show and the Kitchen and Bath Industry Show will be held together for the first time in 2014.
I’m really looking forward to the upcoming NAHB International Builders’ Show (IBS), and I urge you to start planning now to attend. For the first time since its inception seven decades ago as NAHB’s annual convention and exposition, IBS will be co-located with another popular housing-related show in 2014—the Kitchen and Bath Industry Show (KBIS).
KBIS and IBS will be held simultaneously Feb. 4 to 6 at the Las Vegas Convention Center, creating the nation’sRead More
John McManus / BIG BUILDER / September 17, 2013
This morning, a fresh reading comes through on home building’s closest approximation of changes in confidence among those who make a living doing it. Signal or noise? Clearly, housing’s data trends are forming quite the Hell’s Gate of tricky, swift and difficult-to-navigate currents and cross-currents. Here, we explore less about what you need to know–given that so much is either contradictory or uncertain–and more about a few things you may need to do.
Our simplest, most elegant, and best sense of what’s changing in the market is not the noise interestRead More
Robert Dietz / NAHB / September 16, 2013
Absorption rates for new rental and for-sale multifamily units continued to improve at the start of 2013, consistent with the positive trends that been in place since the end of the Great Recession.
According to data from the Survey of Market Absorption of Apartments (SOMA), completions of privately financed, unsubsidized, unfurnished rental apartments were up strongly in the first quarter of 2013 compared to the same quarter a year prior. The reported 24,400 completions in buildings with 5+ units was 53% higher than the 15,900 completions recorded in the first quarter of 2012.
David Crowe / NAHB / August 22, 2013
Recent gains in home prices and rising interest rates have put in a dent in housing affordability. According to the NAHB/Wells Fargo Housing Opportunity Index, 69.3% of the homes sold between the beginning of April and end of June were affordable to families earning the U.S. median income of $64,400. This is down from 73.7% in the first quarter and the first time that the measure has fallen below 70% since late 2008.
However, interest rates remain low and underlying economic fundamentals should support continued growth for housing, with occasional monthly ups and downs. The NAHB/Wells FargoRead More