Housing demand will keep riding high even if prices continue to rise and mortgage rates go up, the chief executive of homebuilder Hovnanian Enterprises Inc. said.
Areas hit hardest by the real estate bust are now seeing the highest gains.
Data suggests that older millennials are choosing to remain living with their parents, increasing pent up demand.
A healthier economy, stable job growth and low mortgage interest rates have led to a slow but steady recovery in the housing market after seven lean years of new home construction.
Using the public-use microdata files provided by Census Bureau’s Survey of Construction (SOC), NAHB Economics and Housing Policy group tabulated new single-family housing starts for the nine census divisions.
Here are four things the next President of the United States should do to make the housing market great again.
One takeaway from the underlying numbers and numerous recent media reports is the increasingly transient nature of young generations.
Following the strongest spring in 10 years, the residential real estate market should continue to see growth throughout the summer despite some growing economic headwinds.
While the nation’s lots are getting smaller on average, the regional differences in lot sizes persist.
Nationwide statistics show that since the last economic boom ended, construction of new residential units across the nation ran at roughly half the pace of the previous quarter century