After the housing crash eight years ago, the residential construction industry is steadily seeing an increase, and economists are optimistic about the future. During a webinar last week, deputy chief economist at Freddie Mac said he expected 2016 to be housing’s “best year in a decade.” The same webinar included National Association of Home Builders chief economist Robert Dietz and NAHB senior economist Robert Denk to offer predictions on what the future looks like in residential construction. Below are five charts and takeaways.
- Single-family construction is surging:
- Multifamily growth is slowing down:
- Builders are still facing shortages of lots, labor, and lending:
- A tight housing supply is an ongoing concern:
- But 2016 is set to be the “best in a decade” when it comes to home sales:
Five Takeaways Chart 1
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