Housing Recovery Continues Positive Outlook

Housing Recovery Continues Positive Outlook

The ongoing housing recovery shows all indications that it will continue for the immediate future. According to economists that recently participated in a Construction Performance Forecast Webinar, the housing recovery is expected to gain momentum next year and particularly in 2015. The webinar was hosted by the National Association of Home Builders (NAHB) and they are forecasting 924,000 total housing starts in 2013, which is a 18% increase from the 783,000 units last year! Single-family production is expected to rise 17% this year to 629,000 units, increase an additional 31% next year to 826,000 and surpass the one million mark in 2015!!

Some of the reasons for the optimistic forecast are the current inventory shortage and rising household formations. "From the standpoint of GDP growth, housing has been a plus, growing at two, three and four times the rate of the rest of the economy in recent quarters," said NAHB Chief Economist David Crowe. "Helping to spur the housing rebound was a double-digit increase in home prices over the past year, driven in part by tight inventories of new and existing homes for sale and gradual gains in employment," stated Crowe. Another bright spot is rising household formations that were delayed during the economic downturn as college graduates and young professionals were forced to move back in with their parents or double up as roommates. During the earlier housing boom, the U.S. was producing 1.4 million additional households every year and dropped to a low of 500,000 during the recession!!! Today the number is growing and is back to 700,000.

Another factor is that many households have been increasing their savings and eliminating consumer debt. "They've corrected a lot of excesses and feel more comfortable about moving forward," Crowe said. He notes that the University of Michigan Consumer Sentiment Index shows that the percentage of consumers who believe that now is a good time to buy a house is back up to levels last seen near the housing boom.

The good news and outlook is great for everyone whether you are a current or prospective homeowner as well as real estate professional!!!! Source: NAHB

Steve Lester is a REALTOR living in Allen, Texas.
http://stevelesterhomes.net/



Seana Taylor Headshot
Author:
Phone: 940-337-1821
Dated: November 2nd 2013
Views: 2,070
About Seana: Seana is a native Texan and has lived all over the Lone Star State. She & her family now call Frisco...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Understanding Mortgage Closing Costs - Understanding Third-Party Closing
Open House TODAY In Wylie 2pm To 4pm - Do you need a home with lots of
84 Percent Of Americans Believe Buying A Home Is A Good Financial Decision - 84% of Americans Believe Buying
Pre Approved Versus Pre Qualified - Pre-qualification for a loan

Our Bloggers

The Doyle Team * - 2
Comprar Casa DFW * - 3
Nikki Acker - 2
Gabrielle Armstrong - 5
Cara Balderas - 50
Tami Bennett - 45
Justin Blackburn - 1
Jessica Boozer - 18
Rhonda Borgne - 1
Olivia Borowski - 1
Jennifer Boyd - 2
Deborah Boyd - 390
Jamie Brannagan - 1
Kathryn Brick - 1
Annette Bruen - 44
Moira Brunken - 18
Beverly Bryant - 23
Ana Cantu - 1
Lisa Cardillo - 53
Bob Cardillo - 4
Lucina Cervantes - 11
Gregory Cornett - 2
Angela Cotten - 85
Missie Craig - 12
Greg Cunningham - 2
Sarah Dieter - 9
Belinda Duff - 5
Eva Duffy - 2
Leah Ecob - 15
Kristine Edens - 3
Jill Elliott - 99
Laneal Ernest - 9
Nicole Espinosa - 27
Christopher Evans - 1
Heather Feragotti - 8
Mark Fischer - 2
Susan Florsch - 12
Jennifer Flynn - 9
Leslie Fogle - 101
Larry Frassinelli - 6
Chad Gabriel - 58
Shalee Garza - 10
Timothy Gilliam - 2
Christina Gonzalez - 5
Wilma Goodwin - 2
William Graves - 5
Jimmy Hanks - 1
Kristen Henderson - 1
Beth Herr - 1
Hunter Howard - 1
Sandra Hunt - 89
Bill Hurd - 3
Gary Hutchings - 20
Rachel Jama - 47
Trenton Johnson - 15
Felicia Johnson - 79
Dakota Joyner - 9
Sunil Kanjia - 2
Jemi Khan - 26
Leigh Klotz - 5
Amber L Johnson - 9
Michele Lafortune - 22
Wanda Lewis - 2
Stacy Lynn Massar - 27
Chuck May - 1
Jennifer Menting - 17
Mikki Migis - 8
Richard Mikus - 1
Sean Moniri - 21
Naddia Morales - 10
Keith Moses - 9
Mark Mulch - 19
Erick Murphy - 6
Steve Murray - 1
Julie Nicholson - 10
Nikki Okpuzor - 3
Alan Oliver - 7
Kelly Oltmann - 4
Kaysone Orlando - 1
Holli Paddio - 3
JP Piccinini - 50
Julie Ann Pickering - 85
Ann-Marie Pope - 2
John Priestash - 24
Joshua Putman - 111
Mimi Rader - 1
Shelia Randolph - 33
Teneka Ray - 1
Go 2 Girls Realty - 173
Bethany Rowan - 15
Kristi Roy - 1
Kelly Rumney - 9
Amy Jo Saenz - 3
Linda Scardis - 4
Sandy Setliff - 217
Christine Shannon - 30
Rene Sinclair - 27
Shelby Smith - 3
Bryce Smith - 5
Monica Solkhon - 1
Rodrigo Sotomayor - 16
Jenna Stanley - 9
Tim Stoll - 28
Kelley Stubbs - 3
Melodie Sulgrove - 1
Seana Taylor - 208
Mary Taylor - 14
Kevin Taylor - 15
Julian Taylor - 17
Erica Taylor - 54
Angela Taylor - 1
Karla Terrell - 2
Joey Thomas - 2
Michele Thompson - 6
Jason Todd - 24
Andrea Trimble - 55
Sarah Uber - 2
Yael VanGruber - 1
Diane Velez - 17
Debbie Viverito - 132
Rachel Walsh - 1
Nick Walton - 75
Spring Weeks - 9
Clint White - 2
Michael Worley - 164
Martina Worley - 2
Keisha York - 30
Audra Young - 1
Debbie Zurita - 17

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

JP And Associates REALTORS
6136 Frisco Sq Blvd, #200
Frisco, TX
972-375-9448


Other Locations