Home Builders Say Housing Outlook is Bright
Forecasts about the nation's housing market picking up steam aren't solely the prognostications of survey estimates and so-called experts.Those on the front lines are also predicting a solid year for the real estate sector.
David Crowe, chief economist for the National Association of Home Builders, reflected this general sentiment of construction workers during the International Builders Show in Las Vegas."Nearly every measure of housing market strength - sales, starts, prices, permits and builder confidence - has been trending upward in recent months," said Crowe. "We expect to see gradual but steady growth along these lines in 2013."He added that one of the biggest reasons for builders' sense of optimism are home prices, which have ticked northward by 6 percent in the last 10 months.
"People feel comfortable if they buy a house that it will appreciate, not depreciate, in value," he said.Builders have plenty of evidence to go on that homes are in high demand.
The Cypress Creek Mirror points out that Houston's housing inventory level is 3.7 months from 5.8 months in November. The nation's average inventory rate of 4.8 months, according to the National Association of Realtors, suggests buying conditions are particularly favorable in the Houston real estate market.