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 / Metrostudy / April 22, 2014
The Commerce Department will report the first preliminary read on New Home Sales for March this morning. Economists are expecting an increase in March of just over 2 percent from the 440,000 annualized pace reported initially for February last month. We often poke fun at the monthly numbers, as the survey methodology behind the metrics often ends up with monthly changes that are not outside the survey confidence interval. So instead of waiting for the monthly press release, let me go out on a limb and report now that new home sales are indeed marching forward and should be looking more positiveRead More
Wayne Norris / Metrostudy / March 2014
Interesting news this week from the big, national data aggregator Corelogic regarding New Homes capturing a higher percentage of all Home Sales monthly throughout 2013:
Metrostudy’s numbers show even a rosier picture here in our region as we also look month by month for 2013. For example, here are the numbers for DE, NJ, PA, MD and VA.
(Click the image to enlarge the chart)
I also thought it would be interesting to take a look back to 2005 and see how the current NEW Home distribution compares historically on an annual basis.
As NEW Homes clearly grabbed a large share at the height of the housingRead More
Eye on Housing Blog / NAHB / March 25, 2014
Census and HUD reported February new home sales were down 3.3% from January but the average of the two months was virtually unchanged from the fourth quarter average sales at 447,000. The February seasonally-adjusted annual rate was reported at 440,000 and the January figure was revised downward from 468,000 to 455,000. Considering the rough and unusual weather patterns through a good portion of the country, holding steady in January and February is as good as you could expect.
The inventory of for-sale new homes continues to rise as builders foresee a robust spring selling season. InventoriesRead More
Jonathan Smoke / HW.com / March 26, 2014
The first read of February new home sales from the Commerce Department was released this week. Economists had been expecting a decline of 5 percent from January on a seasonally adjusted basis, but instead a non-statistically significant 3.3 percent decrease was reported. Remember that last week we saw existing home sales decline moderately in aggregate but the mix of what is being sold was much better. Looking at the new data along with Metrostudy’s more detailed traffic and sales data and recent survey data on consumers’ plans to buy a home, we continue to see encouraging signs thatRead More
Jonathan Smoke / Hanley Wood / March 1, 2014
The first read of January new home sales from the Commerce Department was released last week. Economists had been expecting a decline of 3-4 percent from December on a seasonally adjusted basis, but instead a 10 percent increase was reported. That decline stood out compared to the existing home sales January report last week. Looking at the new data, Metrostudy’s more detailed traffic and sales data, and recent survey data on consumers’ plans to buy a home, we continue to expect that we will see a positive bounce once winter ends and the spring selling season begins in earnest.