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.
Randy Nelson / Movoto / September 3, 2013
As we make our way out of the traditional home buying season of the summer months, the real estate market as a whole appears to be bucking some recent trends, particularly where inventory is involved. According to Movoto Real Estate’s latest State of the Market report, inventory increased in the past month and is continuing an upward trends as we head into the fall, traditionally the slower months for home buying.
While the market typically sees a decrease in inventory at the end of the summer, the number of homes available actually increased by 2,297, or 2.4 percent, from July to the end of August.Read More
Caroline Baum / Bloomberg / August 28, 2013
Hissss! That’s the sound of the air coming out of the housing market. At least that’s what some folks thought they heard when the U.S. Census Bureau reported a 13.4 percent dive in new home sales in July, the biggest decline in more than three years and one that coincided with a sharp increase in mortgage rates.
Don’t start writing housing’s obituary just yet. First, the residential real-estate market just got going. Only in the last two years has residential investment contributed in any significant way to economic growth. It has to make up for lost time.
Second, what might look like a lackRead More
Prashant Gopal / Bloomberg Businessweek / May 28, 2013
About 22 million Americans may lack enough home equity to move, keeping property listings tight and limiting sales as the housing market recovers, Zillow Inc. (Z) said.
Forty-four percent of homeowners with mortgages owed more than their properties are worth or had less than 20 percent equity in the first quarter, the Seattle-based real estate data company said in a report today. Those people probably are locked in to their residences, because listing a house and purchasing a new one generally requires equity of at least 20 percent to meet costs such as a down payment and broker fees, Zillow said.Read More
Washington, D.C. May 15, 2013. America’s largest pro-oriented construction supply companies saw sales rise 13.3% in 2012, all the while expanding facilities by 3.6% and growing payrolls by 7.7%, according to the latest PROSALES 100 survey results released today.
The PROSALES 100 is the premier report on construction supply companies that garner at least a third of their revenues from professional builders. Large operations that cater primarily to retail customers, such as The Home Depot, Lowe’s and Menards, are excluded,Read More
Frank Anton / BUILDER / April 25, 2013
In July 2006, when the housing market still seemed to be–with the emphasis on seemed to be–booming, there were 572,000 unsold new homes in inventory, a record number. At that point, most builders were still pretty confident and still building.
As it turns out, they should’ve been pretty worried.Those 572,000 units represented a 7.3 month supply of unsold units, a unhealthy number and up from 4.2 months a year earlier. By January 2009 all those unsold units had come to represent a 14.3 month hangover, a sorry record and the full-blown effect of over-building.
In response buildersRead More