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Housing Market is Gaining Momentum | Your Bottom Line

According to NFIB’s chief economist Bill Dunkelberg, there is a light in sight at the end of the dark housing-market tunnel. Since 2008 when the housing market was at its lowest, new “starts” are finally gaining momentum with a projected annual rate of 900,000 in 2013. While this is an improvement over the 600,000 new starts in 2008, it still falls short of the needed new start rate. The needed rate, which is based on population growth and deletions from housing stock, is now at 1.6 million.

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