Tuesday, June 1, 2010

Single Family will rise in 2010 & 2011

According to an article in Floor Covering Weekly, The National Association of Home Builders (NAHB) said construction has nowhere to go but up and the housing market will see an uptick in the latter half of 2010 and 2011.

“The real kicker as we turn into 2010 is that everything is turning around,” said Chris Varvares, president of Macroeconomic Advisors. Mark Zandi, chief economist, Moody’s Analytics, said that in early 2013, the jobs lost during the economy will be restored and by the middle of 2014 unemployment will be back to 5 percent. By 2012, the housing market will be closer to trend, and should stand at about 1.75 million housing starts.

This is great news for contractors and retailers. And according to two top construction economists, it's being driven by the stimulus-funded construction projects and single-family housing starts.