The housing industry in the United States is starting to show signs of recovery. Housing starts have been surging recently, and homebuilders are more confident in the market. While this is promising news, there are still many questions to be answered before the industry can definitively say the housing recession is over.
The recent surge in housing starts is promising. According to the National Association of Home Builders, new single-family productions is the highest it has been in many years. This may be a sign of the increasing confidence in the homebuilding industry. Homebuilders are feeling more optimistic as the year progresses, with building permits for single-family homes rising 4.9% in January of this year.
However, there are still many questions that need to be answered before the housing recession can be said to be over. Many communities are still dealing with a huge supply of homes on the market at discounted prices. In addition, looming economic uncertainties and natural disasters from the past year could still have lingering effects on the housing market.
Most Important Elements:
– Housing starts have been surging
– Homebuilders are more confident in the market
– Building permits for single-family homes rose 4.9% in January
– Need to answer many questions before the housing recession can be said to be over
– Communities still have a large supply of discounted homes
– Uncertainties and disasters from the past year could still have lingering effects on the housing market
You can read this full article at: https://www.housingwire.com/articles/is-the-housing-recession-over/(subscription required)
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