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 / Eye on Housing / August 1, 2014
Despite two consecutive monthly declines, the value of construction spending remains higher than levels recorded a year ago.
For the month of June, Census data indicate that the total value of private residential construction spending (put-in-place) declined 0.3% from May to a seasonally adjusted annualized rate of $356 billion. Single-family spending was down in June by 1.4%, to a $184 billion rate. In contrast, multifamily spending was up 2.5% to a $41.8 billion pace, and improvement spending increased 0.4% to $130 billion.Read More
Robert Dietz / Eye on Housing / July 25, 2014
The share of new single-family home sales purchased with cash rose during the second quarter of 2014, reaching 8.4% of sales.
The onset of the housing crisis in 2007 led to a decline in the share of new home sales due to conventional mortgage financing and increases in the shares due to mortgages backed by the FHA and the Department of Veteran’s Affairs (VA), as well as cash purchases.
The second quarter data from the Census Bureau’s Quarterly Sales by Price and Financing indicates that count of cash-based new home sales rose to 10,000 for the quarter, matching a cycle high. During theRead More
David Crowe / Eye on Housing / July 10, 2014
Housing news continued to improve as pending home sales surged following a slow first quarter. Home prices also continued to move higher but at a more moderate pace, suggesting the extra push caused by investors may be slowing. Economic news, however, was mixed. Consumer confidence increased in response to improving labor market conditions. On the other hand, new estimates from the first quarter revealed a steeper decline in real GDP. Early indications are that real GDP will reverse course from a dismal first quarter and gains in housing will continue the pace set before the end of 2013.
Eye on Housing / June 30, 2014
Pending home sales in May posted the largest monthly increase since the expiration of the first-time home buyer tax credit in April 2010. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased 6.1% in May to 103.9 from an upwardly revised April level of 97.9. It is important to note that the May reading was down 5.2% on a year-over-year basis.Read More
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