9 Positive Signs About Housing!

Spread the love

We’ve needed something positive to show us that the housing industry is turning around. Here are nine reasons posted byHousingZone.com that tell us we might be looking at a better 2012 than 2011 in the residential construction market.

1. Unemployment drops to lowest point since 2009

The unemployment rate is at 8.6 percent, according to the Bureau of Labor Statistics report released today. That’s down from 9 percent last month and the lowest rate since March 2009.

2. Pending home sales up 10.3 percent in October

Pending home sales rose strongly in October and remain above year-ago levels.

3. Housing affordability at record levels

One benefit of this downturn is that housing affordability is near its highest level in more than twenty years. That means more long-term opportunity for remodelers as people get into houses they can actually pay for, unlike the boom years.

4. Consumer confidence up heading into year-end

While still depressed from the levels seen in a healthy economy, consumer confidence rebounded in November, according to the latest Conference Board monthly survey.

5. Existing home sales make surprising October jump

Existing-home sales improved in October while the number of homes on the market continued to decline, according to the National Association of Realtors.

6. Residential construction spending up 3.4 percent

Construction spending on residential properties was up 3.4 percent in October, according to the U.S. Commerce Department.

7. Construction industry adds most jobs since 2006

Positive news on the job front today as payroll-processing giant ADP reports that November saw another 206,000 jobs added to the private business sector, well above what economists were projecting.

8. Builder confidence at 18-month high

Builder confidence in the new single-family homes market rose by three points to 20 on the NAHB/Wells Fargo Housing Market Index (HMI) for November.

9. Single-family starts increased in October

Single-family housing starts rose 3.9 percent to a seasonally adjusted annual rate of 430,000 units in October, according to the U.S. Commerce Department.

Read the entire article here

Call us today to view our new home plans: 713-539-0048 – Sign up for our New Home Buying Tips

Visit our website: www.fairmonthomes.net

Tour our model home – NEW model home NOW AVAILABLE 3903 Whispering Woods – Crystal Lakes Estates

No Comments

Sorry, the comment form is closed at this time.