Home Builders Forecasting a Steady Rise in 2014

Home Builders Forecasting a Steady Rise in 2014

Fri, 2014-02-07 14:05 — NationalMortgag…

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Led by a resurgence in single-family production, housing will continue its climb toward higher ground in 2014, but builders are still confronting several challenges that could hinder the pace of the ongoing recovery, according to economists speaking at the National Association of Home Builders (NAHB) International Builders’ Show (IBS) in Las Vegas.

“My single-family forecast for 2014 is pretty aggressiv—822,000 starts which is likely 200,000 more than 2013,” said NAHB Chief Economist David Crowe. “There are five key points to the turnaround. Consumers are back, pent-up demand is emerging, there is a growing need for new construction, distressed sales are diminishing and builders see it.”

 

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