David Crowe, chief economist for the National Association of Home Builders, said during an industry panel at the International Builders’ Show in Las Vegas on Tuesday that a robust economy and job market plus low mortgage rates will help to keep the new-home market’s recovery at a modest pace this year, ABC News reports.
If Crowe’s projection that the economy will expand 2.7 percent in 2016 is correct, it would be the strongest gain since before 2008’s Great Recession.
Due to a 15 percent rise in new-home sales through the first 11 months of last year and construction of single-family homes hitting an eight-year high in November, U.S. home builders have plenty to be optimistic about entering 2016.
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