Housing Market Looks To Have A Positive Future, Says NAHB
The National Association of Home Builders noted that the residential housing market has moved in a positive direction so far this year, and this should continue in the coming months.
There have been many mixed messages in the housing market in the past month, but some experts think this is purely due to the differences that can occur month-to-month, and shouldn't panic any industry members.
"No one is anticipating that an upward path for housing will run in a straight-line trajectory," said
David Crowe, chief economist for NAHB. "The economy is in an uneven recovery and we can expect some corresponding ups-and-downs in the housing market in the months ahead."
Home sales have been improving significantly, and housing starts are expected to trend up as the industry progresses into 2013, the report said. In addition, the commercial real estate industry is expected to continue its improvement into 2013, as well. Specifically, multifamily starts are projected to jump significantly from 2011 to 2013.
The report added that improving payrolls, along with further housing improvements, will be key to continued economic expansion and recovery.