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.
Robert Dietz / NAHB / May 28, 2013
For the fourth consecutive quarter, construction of attached single-family housing (townhouses) increased both in terms of market share and year-over-year total units started.
Per first quarter 2013 Census data of Starts and Completions by Purpose and Design, total townhouse construction continued to grow at the beginning of year, reaching a starts total and market share last seen in 2009.
Townhouse construction starts totaled 15,000 for the quarter, a significant increase compared to 10,000 in the first quarter of 2012. Over the period spanning the secondRead More
Brad Hunter / Metrostudy / April 30, 2013
Prices of new-construction homes are forecast by Metrostudy to be up 9.0% in 2013, and in the best “A/B” submarkets, they are expected to rise by 11%-15%. We are already seeing this in isolated pockets, and expect it to soon become a widespread trend.
These forecasts are based upon same-house comparisons, by the way, not averages or medians. Home price averages and medians will be unreliable this year. Why?
- As builders start buying lots in the B-/C+ locations (later this year, we expect), instead of A/B, the average home price could conceivably fall, even though same-house comparisons
John Caulfield / BUILDER / January 24, 2013
As new-home starts accelerate, builders’ land options are becoming more limited.
Bill McBride / Calculated Risk / January 8, 2013
Reis reported that the apartment vacancy rate fell to 4.5% in Q4, down from 4.7% in Q3 2012. The vacancy rate was at 5.2% in Q4 2011 and peaked at 8.0% at the end of 2009.
Some data and comments from Reis Senior Economist Ryan Severino:
Vacancy declined by another 20 bps during the fourth quarter to 4.5%. This exceeded performance during the third quarter when vacancy declined by 10 bps. On a year-over-year basis, the vacancy rate declined by 70 bps.
There was a bit of a resurgence in demand for apartment units during the fourth quarter when 45,162 units were absorbed. This represents an increaseRead More