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Construction, Premiums and Unfortunate Events

This week in housing news you can use, construction booms, interest premiums stay put, and real estate agents find a home in an unfortunate series.  Continue reading Construction, Premiums and Unfortunate Events

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2016 New Home Construction Starts Solid

The outlook is good for new home construction to continue to rise in 2016

With solid growth in 2015, the new home construction in 2016 looks to be promising. The Commerce Department reported an overall gain of 10.4 percent nationally, which translated to 715,000 units nationwide (the number is based on housing permits).

The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index gauges the confidence in the new home construction market based on surveyed industry professionals: January is already predicted to mirror December’s positive index.

In a recent article by the National Association of REALTORS®, NAHB Chief Economist David Crowe said the trend will continue: “Strong job growth, rising consumer confidence and pent-up demand will keep housing on an upward trend.”

New Home Construction Index for 2015

Region : NAHB HMI Market Confidence Dec 2015 Jan 2016
Northeast 49 47
Midwest 54 58
South 61 60
 West 75 73

Jan 2016 numbers are preliminary. The index is a NAHB member survey of market conditions, adjusted seasonally.
Sources: REALTOR®Mag, NAHB

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