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.
Metrostudy does a 100% count within markets across the country of move-ins into newly-built homes. This is a powerful and reliable measure of end-user demand. The top two markets have outsized percentage changes because they are starting from a low base number. In terms of the large markets, Central Florida has seen a 24.3% increase in new home demand in the past year, and Charlotte, NC, has seen a 23.4%. Atlanta, which was savaged by the downturn, has seen a 22.9% increase. New home construction is picking up in all of these markets, as builders scramble to meet increased demand.Read More
Brad Hunter / Metrostudy / August 11, 2014
We have been talking for years about the lot shortages that builders are facing. Now, it’s time to talk about how many lots are being developed. Builders and developers are now playing “catch-up,” with builders buying land and lots and developers/investors paving roads and putting in infrastructure to serve the builders’ needs at a frenetic pace.
The pace of lot delivery (completion, ready for the builder) has gone up 140% in the past two years, much faster than the pace of housing production has risen (+84%). Despite this increased pace, lot development STILL lags the pace ofRead More
Brad Hunter / Metrostudy / August 6, 2014
The government release on housing starts for June showed a sharp decline, concentrated in what the Census Bureau defines as “The South.” Single-family starts were down in June by 9.0% from the previous month, and down 4.3% from twelve months earlier. Within that number, almost all the decline was in the South, down 20.1% versus the previous month and down 14.5% versus a year ago.
Rumors of the South’s demise are greatly exaggerated.Read More
Brad Hunter / Metrostudy / June 25, 2014
When it comes to new home sales, the first half of 2014 was the victim of the cold weather, but more so the victim of the large price hikes that occurred in the first half of 2013. We are long past the weather factor, and we are seeing consumers start to get past the sticker shock. Our research shows that traffic is more prone to turn into sales now.
There is something else that is auspicious about this mid-year mile-marker. We have just passed the point where (numerically speaking) we have regained all of the jobs that were lost during the downturn. Granted, they aren’t the same jobs, butRead More