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NAHB: Home production to surpass 1 million next year, 1.2 million in 2017

from Builder

The National Association of Home Builders held its annual Fall Construction Forecast Webinar Oct. 21, where economists predicted a strong increase in the amount of new single-family homes built in the next two years. Using data extrapolated from 1990, Robert Denk, a senior economist at NAHB, said the average number of single-family starts in a given year is 1.3 million, which was the mark in the early 2000's. The amount of home starts jumped to 1.7 million in 2006 and then sank to about 350,000 in 2009 after the housing bubble burst. Since then, housing starts have risen, and currently, Denk said, the market is churning out around 740,000 of them — 53 percent of the long-term average. more


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