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.
NAHB / October 16, 2013
Builder confidence in the market for newly built, single-family homes fell two points in October from a downwardly revised reading in the previous month to a level of 55 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today.
“Builder optimism remains above 50 and we are still seeing signs of pent-up demand in many markets across the country,” said NAHB Chairman Rick Judson, a home builder from Charlotte, N.C. “This slight dip in builder sentiment is the result of continuing challenges in the marketplace with regard to the cost and availabilityRead More
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Teresa Burney / BUILDER / July 18, 2013
Unions promise trained carpenters when housing market rebounds.
When home builders need carpenters, union trained ones will be available in the markets where unions are active, says Douglas J. McCarron, general president of the United Brotherhood of Carpenters.
With 250 training centers, an extensive apprenticeship program, and recruiting programs at community colleges and high schools, the union has the infrastructure in place to gear up quickly to provide the next generation of carpenters, McCarron said.
And he’s not worried about lack of candidates — the organization’sRead More
Brent Nyitray / Market Realist / July 16, 2013
Low household formation numbers over the past five years will drive homebuilder demand going forward
Since the financial crisis began, demand for new construction has fallen, as household formation numbers have dropped. The low household formation numbers have been driven by a poor economy—not by demographics. This represents pent-up demand that must be satisfied in the future.
This series will discuss household formation numbers historically and over the past few years. We’ll compare those numbers with housing starts and show that there’s tremendous pent-up demand for housing,Read More
Jonathan Smoke / Hanley Wood / July 16, 2013
The Commerce Department releases new permits, starts, and completions data Wednesday morning. Let’s anticipate what we might see in the Wednesday report by looking at some real, market level permit data.
The survey methodology behind the Commerce Department data often causes the monthly metrics to be subject to significant revisions. More telling, and often ignored by the mainstream, is that the monthly changes are more often than not within the confidence interval, meaning that the monthly data are inconclusive about the direction and extent of change month over month.
The consensusRead More