May
29

Economic and Housing Market Outlook Presented In Washington D.C.

May 29, 2009

nsmcAs the National Home Association of Home Builders Board of Directors convened this week in our nation’s capitol, Robert Denk, Assistant Vice President of Forecasting and Analysis presented his outlook on the housing industry as it stands today.  Surprisingly, there are glimmers of hope and positive signs that we are seeing the long-sought stabilization nationally in the home building industry.  The Chicago real estate market has had its troubles during this slump but nothing that has reached the scale of some other areas of the country such as Arizona, Nevada, California and most of Florida.

As reported here in Chicagoland Real Estate Forum,  some segments of the Chicago home building market, particularly the “green building” and some urban multi-family developments are moving forward and seeing good to moderate sales.   Robert Denk’s report gives most home building professionals positive news that the industry is due for a recovery.  Some of the highlights of the report are summarized here:

  • indications that the housing recession is recovering
  • signs of prices stabilizing
  • housing and production in relation to employment and population are beginning to balance back toward sustainable levels
  • house prices, rising unemployment, inventory will be the key drivers and indicators of which markets will be best and worse in the coming 6 – 8 quarters

Robert Denk is Assistant Vice President for Forecasting and Analysis at the National Association of Home Builders. His responsibilities include developing econometric models of national, state and metropolitan area housing activity, as well as providing ad hoc analyses on a range of housing sector issues. Mr. Denk has been an economist in Washington DC for over 20 years working in the private, non-profit and government sectors.

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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