Oct. 8, 2013: Housing Recovery Is Picking Up Steam, Says Economists
Single-Family Housing Expected to Rise 17 Percent This Year, Jump an Additional 31 Percent in 2014
WASHINGTON — With home prices and household formations rising and household balance sheets healing, the ongoing housing recovery is expected to gain momentum next year even as challenges remain, according to economists participating in the National Association of Home Builders (NAHB) Fall 2013 Construction Forecast Webinar.
“The cards are in play for a decent and fairly strong recovery in 2014 and particularly in 2015,” said David Crowe, NAHB chief economist. “From the standpoint of GDP growth, housing has been a plus, growing at two, three, and four times the rate of the rest of the economy in recent quarters.”