Single-family housing production will speed up in 2015, economists said during NAHB’s 2014 Fall Construction Forecast Webinar.
The economists say low mortgage rates, rising household formations, and a growing economy paired with pent-up demand will boost single-family housing production in 2015, Florida Realtors reports. Steady job and economic growth will allow trade-up buyers who have delayed home purchases due to job insecurity to enter the marketplace. Because of this, NAHB Chief Economist David Crowe says “single-family builders are feeling good. They are not overly confident, but confident enough to keep moving forward.”
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