- Economic growth has improved and was near 4% in the last half of 2014.
- Employment gains are more solid and consistent, averaging more than 250,000 per month in 2014.
- Consumer confidence is growing and back to pre-recession levels.
- Significant pent up demand is building: More than 7 million existing home sales have been postponed or lost since the housing downturn.
- Home owners’ equity is rising and up in the past three years.
- Household balance sheets are returning to normal.
- Household income is rising and up over the past three years.
- Mortgage availability is improving: administration and FHFA have taken steps.
- Mortgage rates are near historic lows: Some are below 4%.
- Inventory of available homes is increasing: New homes are up 45%, existing homes are up 16%.
Monday, February 9, 2015
Top 10 Reasons 2015 will Be a Growth Year for Housing
During his briefing to our membership last week, NAHB Chief Economist David Crowe cited his top 10 list that points to a more robust year for housing in 2015. Below is Dr. Crowe's top 10 list for 2015: