Census Bureau Reports New Residential Construction Starts Outpace Market Consensus Forecast
New construction is considered a sign of improvement in the housing market recovery. A common question is, “where are we in the housing recovery?” Stronger home sales, lower percentage of mortgage delinquencies, and new construction are all positive signs of recovery.
The Census Bureau Reports…
“The Census Bureau reported new residential construction starts in January outpaced the market consensus forecast, led by condominiums and apartment buildings, and December’s figures had upward revisions. Finally, existing home sales were at the strongest pace in January since May 2010, according to the National Association of Realtors.”