Categorized | Residential

US Housing Market Showing Positive Signs According to Most Builders

Please Share!

In analyzing the latest residential real estate trends, it is becoming apparent that most builders believe that the housing market is back on track, and prime for overall growth.

 

The number of new building permits for single-family homes and apartment buildings rose five percent in February. The increase has now boosted the annual rate to its highest level since 2008. Although the rate still has a ways to go before it can officially be considered healthy, it is certainly a start in the right direction.

 

Builder confidence has grown tremendously over the past six months, as the new housing market has started to garner interest from various groups of buyers. While it typically takes about a year to build a home once a builder obtains a permit, officials are pleased that the residential real estate market is finally starting to show positive signs of growth.

 

Some economists are not nearly as optimistic, as they cite the fact that construction levels are still are low levels. However, those looking at this report with a more positive light believe that the increase in permits is more telling than construction during this time of year.

 

Those who are optimistic believe that the housing market will see a strong increase in overall construction of homes. Furthermore, they believe that such an increase will fuel the already improving residential real estate market.

 

Although the general consensus is that the market is starting to show true signs of growth, there are still some hurdles that must be overcome. There are still a number of foreclosures on the market, which will hamper new home sales. Housing sales have fallen, and now a smaller portion of the United States economy than typically seen.

Please Share!

About James Pattric

James writes for the Residential category (along with Josh Johnson) and also heads up the Resources category.

Leave a Reply

Twitter Chat