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.
David Crowe / NAHB / September 19, 2013
Housing starts rose 0.9% in August pushed by a solid 7% increase in single-family starts and tempered by an 11% fall in multifamily starts. The single-family increase was broad; all four census regions showed increases ranging from 17.5% in the West to 2.3% in the South. Monthly multifamily starts have saw-toothed up and down for several months with four up months and four down months in 2013.
Housing permits demonstrated the same signal with single-family permits up 3% nationally and up or unchanged in every region. August single-family permits at 627,000 are the highest since May 2008. SimilarRead More
Jonathan Smoke / Hanley Wood / June 18, 2013
The preliminary data on permits in May from the Commerce Department reflected activity close to the pace reported in April (down 3.1%) but that was slightly better than most economists were expecting. We think the pace of activity so far this year is more or less what we will see for the year as builders are intentionally limiting growth to maintain pricing power while shoring up future lot capacity. If our thesis is true, it makes sense to see what more detailed data available through April tells us about new residential construction in 2013.
Here are the key observations:
- Growth so far is significant