Mid-Year Construction Forecast
The housing market continues to wait for job recovery according to recent information from the Associated Builders and Contractors, American Institute of Architects and National Association of Home Builders
Associated
Builders and Contractors
National
Association of Home Builders
American
Institute of Architects
- Low mortgage rates
- Ratio of house prices to income are at normal levels: People used to buy homes three times their income, but were buying at five times their income during the boom. The ratio is now back down to three times the income - the normal level.
- Affordability is high
- Low inventory of homes
- Pent-up demand
- Lacking job market
- House price declined again: This might affected by recent flood of foreclosures.
- Consumer confidence
