There are a continuing number of signs that the home building market is beginning to turn around. Not only have foreclosures been bottoming out across the country as evidenced in one news report from Arizona where a county reported its lowest number of distressed properties in recent years, but there have also been encouraging reports from the stock market.
Basically, everyone who has been watching the home-building industry has been waiting for the foreclosures to bottom out. So if this continues, the forecasts back in 2008 and 2009 that pegged 2013 as the year for a recovery in the housing industry, could be on track.
There are also other signs of a pending recovery. Â Suppliers to the housing industry have been trending upward on the 5-year charts, including Weyerhaeuser (WY) and Masco (MAS), and the Housing Index (HGX) is following suit. It remains to be seen whether these recent upticks in values will be sustainable, especially with all the false starts we’ve seen over the past two years, but we should know by March if improvement will continue into the spring and summer. Other encouraging signs include the news in November that the number of homes listed for sale hit its lowest point in four years with those inventories declining in 29 of 30 markets across the country in October alone. Then too, if economic indicators continue to trend upward, and more people become employed, many who were forced into rentals during the downturn would be on track to buy homes.
But, let’s not forget about rentals. They too, are part of the housing market and they carried housing late in 2011. Predictions are that rental unit development will continue strong, no doubt until long after home building is standing up again.
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I’d love to start my own home build project because not only would I be able to create the house to my exact specifications but I’d also be able to create it for a lot less than what is available on the housing market right now!
I’d rather first consult any architects to plan my dream house and choose what would be the design. I like to see my house to be in my own style, because it reflects my own personality.
Diamond Blade