“A Brighter Future in Housing: New Home Construction Surges!

The news of new home construction jumping 17.3% in April providing a huge boost to the housing market is good news indeed. This was reported by the U.S. Census Bureau. The new single-family home construction data created optimism about a housing market that had been suffering from stagnation, with limited access to mortgage credit for many prospective buyers. The unexpectant surge in single-family home construction was the highest since the data started being tracked in 1959. It was a complete surprise to many housing industry professionals, as it had been expected that this sector of the real estate market would remain unchanged or perhaps even decline. This is further evidence of housing market that is slowly but surely coming back to life after post-recession lull. The 17.3% rise in new homes was driven in large part by a surge in projects in the Southwest, including Arizona, which saw a 19.4% increase from March to April. California also had an impressive performance, with an 11.3% rise in April. Much of the boost in new home builds is believed to be a result of pent-up demand after years of limited real estate investments. Builders are also reported to have taken advantage of attractive pricing on already existing housing stock, such as foreclosures and short-sales, which has helped to fuel an increase in new home construction. The new home construction data is being seen by many in the real estate industry as another positive sign that the housing market is slowly starting to recover. With more new home builds expected to follow in May, the housing market is sure to be experiencing somewhat of a long-awaited recovery in the near future. It should be noted that many of the increases in new home construction were in the higher-priced areas of the country, and this is a very positive sign as it means that there are consumers with higher levels of income that are now being attracted to the housing market again. With such positive trends in the market, it is expected that more people, both consumers and developers, will be interested in investing in the housing market in the coming months. All-in-all, the news of the dramatic jump in new home construction is being seen as very positive indeed, and is raising hopes that the housing market will experience a real rebound in the near future. Whether or not this sentiment is realized will be seen only in time, but in the meantime, this new home construction data is providing a much-needed boost to an otherwise stagnant housing market. The news of new home construction jumping 17.3% in April providing a huge boost to the housing market is good news indeed. This was reported by the U.S. Census Bureau. The new single-family home construction data created optimism about a housing market that had been suffering from stagnation, with limited access to mortgage credit for many prospective buyers. The unexpectant surge in single-family home construction was the highest since the data started being tracked in 1959. It was a complete surprise to many housing industry professionals, as it had been expected that this sector of the real estate market would remain unchanged or perhaps even decline. This is further evidence of housing market that is slowly but surely coming back to life after post-recession lull. The 17.3% rise in new homes was driven in large part by a surge in projects in the Southwest, including Arizona, which saw a 19.4% increase from March to April. California also had an impressive performance, with an 11.3% rise in April. Much of the boost in new home builds is believed to be a result of pent-up demand after years of limited real estate investments. Builders are also reported to have taken advantage of attractive pricing on already existing housing stock, such as foreclosures and short-sales, which has helped to fuel an increase in new home construction. The new home construction data is being seen by many in the real estate industry as another positive sign that the housing market is slowly starting to recover. With more new home builds expected to follow in May, the housing market is sure to be experiencing somewhat of a long-awaited recovery in the near future. It should be noted that many of the increases in new home construction were in the higher-priced areas of the country, and this is a very positive sign as it means that there are consumers with higher levels of income that are now being attracted to the housing market again. With such positive trends in the market, it is expected that more people, both consumers and developers, will be interested in investing in the housing market in the coming months. All-in-all, the news of the dramatic jump in new home construction is being seen as very positive indeed, and is raising hopes that the housing market will experience a real rebound in the near future. Whether or not this sentiment is realized will be seen only in time, but in the meantime, this new home construction data is providing a much-needed boost to an otherwise stagnant housing market.