NAHB Projects Robust New Single-Family Home Construction in 2016 and 2017

Similar to the sentiments of other housing industry experts, the economists at the National Association of Home Builders’ (NAHB) annual Fall Construction Forecast Webinar indicated that pent-up housing demand, strong employment, and higher wages will help propel the housing market forward over the next two years. In particular, the economists projected a strong increase in new single-family home construction in 2016 and 2017.

Basing their forecasts on housing start data as far back as 1990, NAHB’s Senior Economist Robert Denk, “estimated that home starts would surpass one million in 2016 and 1.2 million, or 91% of the average, in 2017.” Additionally, Denk anticipates housing production to return to normal levels in the topmost 40% of states near the end of 2017. To read more about Denk’s forecast, where economists predict people will buy homes, and the trajectory of mortgage interest rates, visit http://bit.ly/1OmPcYb.

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