Are Buffett, Japanese Companies the Catalysts to Unlock Innovation in Construction?
September 22, 2017 by Zelman & Associates
Earlier this month, we discussed how labor constraints have resulted in construction cycle times becoming extended to the second longest level among expansion periods dating back to 1990, trailing only 2005 when industry ...
Filed Under
homebuildingmacro housing
If Young Families Want Urban Living, is the Right Product Being Built?
September 22, 2017 by Zelman & Associates
We are of the opinion that while young adults are waiting longer to get married and form families relative to prior generations, there still exists a strong pull to the suburbs and single-family homes once they reach this point of their life, ...
Filed Under
apartmentsdemographics
Given Tight Labor Market, Homebuilder Construction Cycles Extend Beyond Norms
September 08, 2017 by Zelman & Associates
As previously detailed, labor availability ranks among the biggest challenges for production builders in the current market, remarkably even with land availability, which is traditionally the most-cited hurdle ...
Filed Under
homebuildinghousing starts
LIRA a Home Improvement Resource with Limitations Worth Recognizing
September 08, 2017 by Zelman & Associates
The Joint Center for Housing Studies of Harvard University (JCHS) is a widely-respected research center that contributes various thoughtful analyses around the housing market and demographics. In 2007, the organization introduced The Leading ...
Filed Under
home improvementsurvey
Could Tight For-Sale Inventory Depress Consumer Enthusiasm Shortly?
August 25, 2017 by Zelman & Associates
Yesterday, the National Association of Realtors released its estimate for July existing home closings. Adjusted for seasonality, transactions were up 2% year over year, leaving the trailing three-month average increase at a similar 2% level ...
Filed Under
existing home salesmacro housing
A Sign of Discretionary Home Improvement Projects Gaining Steam
August 25, 2017 by Zelman & Associates
Over the last four years, our national home improvement proxy index has increased 6.0% annually, holding in a relatively tight range of 5.8-6.2%. To frame how dramatically the market has shifted from the depths of the recession, our index was ...
Filed Under
home improvementsurvey
Second Kid Typically the Final Straw Before Heading to Suburbs
August 25, 2017 by Zelman & Associates
We recently detailed that “good” births, or births to women at least 25 years of age, were up 1.5% in 2016 based on preliminary estimates from the Center for Disease Control. While those estimates have been revised ...
Filed Under
demographicsmillennials
While Consumer Wage Growth Disappoints, Net Income Accelerates
August 25, 2017 by Zelman & Associates
Almost a year ago in an analysis titled, “Entry-Level Wage Growth Not Great, but Continuing to Improve”, we offered a relatively optimistic outlook for entry-level incomes with the growth rate improving for two key indicators in 2016 compared ...
Filed Under
entry-levelmacro housing
Consumer Intentions Contradict “Bad Time to Buy” Sentiment: Which to Trust?
August 11, 2017 by Zelman & Associates
Earlier this week, Fannie Mae released the results of its monthly consumer survey focused on housing-related consumer sentiment. According to the July feedback, “the net share of Americans who say it is a good time to buy a home fell 7 percentage ...
Filed Under
macro housingsurvey
Fed Senior Loan Officer Survey Does Not Tell Entire Story on AD&C Lending
August 11, 2017 by Zelman & Associates
Last week, the Federal Reserve published its latest Senior Loan Officer Opinion Survey with the goal to “provide qualitative and limited quantitative information on credit availability and demand.” As it relates to residential real estate capital ...
Filed Under
apartmentsconstruction lendinghomebuilding
affordabilityapartmentsbaby boomersbuild-for-rentBuilding Productsconstruction lendingdemographicsentry-levelexisting home saleshome improvementhome pricinghomebuildinghomeownershiphousehold formationhousinghousing startsinstitutional investorsinterest ratesmacro housingManufactured Housingmillennialsmortgagemortgage ratesnew home salesreal estate servicesrefinancesg&asingle-family rentalstocksstudent debtsupplysurvey