According to a recent article on CNBC, the single-family housing market is ready for a rebound. Recent years have been hard on the housing market, but experts are pointing to some signs that they say could signal the beginning of brighter days. National Association of Home Builders (NAHB) president and CEO Jerry Howard notes in the article, “With the exception of really hard-hit markets, the vast majority is ready to turn around.”
Some indicators are looking good, like the iShares Dow Jones US Home Construction Index Fund, considered to be a broad barometer for the industry, which was up 38 percent, and the S&P 500 which is up about 21 percent.
The conditions needed for a recovery are falling into place as well- residential rent is rising, leading some renters to consider buying; existing-home inventory is at its lowest in the last five years and inventory of new homes is at its lowest in 40 years; affordability is at record highs, as are delinquencies; consumer confidence is rising; and job growth is accelerating. It’s good to see these signs of life in the residential building industry, and hopefully things will only get better from here.
If you’re interested in building a custom luxury home in the Atlanta area, contact us at Dovetail Homes today.