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.
Laura Kusisto / Wall Street Journal / June 22, 2015
Sales of previously owned homes regained momentum in May, a welcome sign that the housing market remains strong after sales fell unexpectedly in April.
The pace of existing home sales increased 5.1% last month from April to a seasonally adjusted rate of 5.35 million, the National Association of Realtors said Monday. Sales for April were revised up to 5.09 million from an initially reported 5.04 million.
Economists surveyed by The Wall Street Journal had expected May sales would increase 4.2% to a pace of 5.25 million.
Sales hit their strongest pace since November 2009. Strong sales in May wereRead More
Lucia Mutikani / Reuters / February 23, 2015
U.S. home resales fell sharply to their lowest level in nine months in January amid a shortage of properties on the market, a setback that could temper expectations for an acceleration in housing activity this year.
The National Association of Realtors said on Monday existing home sales declined 4.9 percent to an annual rate of 4.82 million units, the lowest level since April last year.
“The general tone of this report was weak and it adds to a wide array of housing indicators that have been pointing in the wrong direction, underscoring continued sluggishness in this crucial segment ofRead More
Jonathan Smoke / Metrostudy / May 22, 2014
With all of the misdirected hand-wringing over the alleged stalling of the housing rebound in 2014, you would have thought that economists and analysts would have expected another slight decline in existing home sales to be reported by the National Association of Realtors (NAR) this morning. But, instead they were expecting a 2 percent increase to an annualized rate of 4.69 million from the 4.59 million initially reported in March. The actual report from NAR set the initial April reading at 4.65 million, an increase of 1.3 percent from the unrevised March rate of 4.59 million.
For severalRead More
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