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.
Jonathan Smoke / Hanley Wood / March 20, 2014
Economists were expecting another slight decline in existing home sales in February. The report this morning from the National Association of Realtors (NAR) set the initial February reading at 4.60 million, a decline of 0.4 percent. No one should fear this as a harbinger of housing deteriorating—it’s actually a reflection of the existing home market getting better.
But better is not necessarily bigger. Better is a result of having more of what we want to see and less of what we don’t want to see. While the overall volume is declining slightly, we are seeing that outcome as a resultRead More
Stephen Melman / NAHB / April 29, 2013
The Pending Home Sales Index, a forward-looking indicator based on signed contracts, increased 1.5% in March 2013 to 105.7 from a downwardly revised 104.1 in February. The March 2013 PHSI reported by the National Association of Realtors (NAR) was 7.0% higher than the same period a year ago. NAR reported that pending home sales have been above their previous year levels for the past 23 months.
The modest increase in the PHSI mirrored last week’s reported total 1.5% increase in March new home sales. The March PHSI was consistent across the regions. The PHSI was flat in the Northeast and increasedRead More
Stephen Melman / NAHB / April 22, 2013
Existing home sales decreased 0.6% in March from a downwardly revised level in February, but were still up 10.3% from the same period a year ago. The National Association of Realtors (NAR) reported that March 2013 total existing home sales were at a seasonally adjusted rate of 4.92 million units combined for single-family homes, townhomes, condominiums and co-ops. That compares to 4.95 million units in February, and 4.46 million units during the same period a year ago.
The March 2013 level of single-family existing sales decreased 0.2% from February to a seasonally adjusted 4.32 million sales,Read More