From: BUILDER November 2005
Posted on: November 11, 2005
Vital Signs

Pump Pain

The effects of higher fuel prices are felt throughout home building.

By:: Michele Mariani

SOURCES: NATIONAL ASSOCIATION OF REALTORS AND U.S. CENSUS BUREAU

SOURCE: U.S. CENSUS BUREAU

SOURCE: NAHB

SOURCE: RANDOM LENGTHS

Total housing starts exceeded projections in September, as many forecasters expected a dip due to Hurricane Katrina. Total starts actually rose 3.4%, and they were up 10.3% over last September.

HEADLINE NEWS:

Mortgage news made a splash when fixed rates topped 6 percent. One-year ARM rates jumped almost 40 basis points between September and October.

HEADLINE NEWS:

Mortgage news made a splash when fixed rates topped 6 percent. One-year ARM rates jumped almost 40 basis points between September and October.

SOUTHERN SURGE:

The South carried housing starts, as total starts jumped 6.9%, and single-family starts were up 6.2%. Starts in the Northeast and the West were flat.

PAY UP:

Fewer, but more expensive, new homes sold in August, as median new-home prices rose for the first time since April and once again outpaced existing-home prices.

COASTAL COOLDOWN:

Sales dropped nearly 10 percent in August, dragged down by 22 percent and 20 percent fewer sales in the Northeast and the West, respectively.

POSITIVE OUTLOOK:

Builders pulled more permits in September, a sign of strength through the end of the year. Single-family permits led the increase, up 4.4% over August.

BETTER DAYS:

Even Southern builders were feeling more optimistic in October than in September, when they were surveyed shortly after Hurricane Katrina.

AFTERSHOCKS:

Two months after Hurricane Katrina, framing lumber prices retreated from September highs; panel prices remained above year-ago levels.

Keywords

Subject: Demographics, Economic Conditions, Sales, Permitting, Lumber, . . .
Person: null
Organization: Census Bureau

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John McManus

Standard Pacific Strides Into the Black in Q1

Builder Pulse

John McManus is an award-winning editorial director for the Residential Construction Group at Hanley Wood in Washington, D.C. In addition to the BUILDER digital, print, and in-person editorial and programming portfolio, the group includes strategic content direction for AFFORDABLE HOUSING FINANCE, APARTMENT FINANCE TODAY, CUSTOM HOME, EcoHome, MULTIFAMILY EXECUTIVE, and residential architect.

Standard Pacific released first-quarter earnings post market close last night that beat Wall Street analysts' posted predictions. After a near brush with death in 2008, and life-support from MatlinPatterson's real estate funds, Standard Pacific's strategic, operational, and tactical planning and execution are playing well in what continues to be an adverse market environment in most of its competitive arenas.