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Economists Predict a Strong Year for Housing in 2015

Economists Predict a Strong Year for Housing in 2015
An improving economy, low mortgage rates, larger household formations, and pent-up demand will help increase single family home production in 2015, according to economists who participated in the NAHB Fall Construction Forecast Webinar last month. A recent article in Floor Daily highlights the reasons for this optimism and more positive news for the new home industry
The National Association of Home Builders' Chief Economist David Crowe said, "Single-family builders are feeling good. They are not overly confident, but confident enough to keep moving forward". Crowe added that the single family housing will finish out the year much stronger than it began and set the stage for a robust 2015. Crowe also says this is mostly due to significant pent-up demand and steady job and economic growth that will allow trade-up buyers who have delayed home purchases due to job insecurity to enter the marketplace.
 
Recent sales success in Founders Pointe in the last six weeks reflects Crowe's comment where East West Realty reports the sale of three Showcase Homes and several presales on premium lots. Founders Pointe is a new waterfront community near Smithfield, VA and features resort style amenites and waterfront lots along ... more

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