Oct
20

National Association of Home Builders’ Fall Construction Forecast

October 20, 2012

nahb uses webinars on chicago real estateThis fall, the National Association of Home Builders (NAHB) is offering webcasts, which are a great way for participants to learn more about the real estate market and housing market status. Guests can also interact with podcast presenters by asking questions and sharing their concerns and comments.

Last week, the NAHB held their Fall NAHB Construction Forecast Webinar. The participants were:

  • David Crowe, NAHB Chief Economist
  • Mark Zandi, Chief Economist at Moody’s Analytics
  • Robert Denk, NAHB Assistant Vice President for Forecasting and Analysis

The main topics discussed were regional housing markets, development and construction financing, rising home prices, home appraisals and home material and energy costs.

David Crowe discussed how the housing market is certainly on its way to recovery, and that remodeling, multi-family construction and single family construction were on the mend. Remodeling growth is back to early 2000 levels, while single family housing is taking a little longer to recover, and is only at 40 percent of what it was in the early 2000s.

However, the good news is that Crowe said the housing sector is more “robust” than many other parts of the economy, because housing prices are beginning to pick up again.

Mark Zandi shared his thoughts on how hiring rates and fiscal policy issues affect the housing market, and also discussed ways that the housing market can recover after the over-development during the housing boom.

Robert Denk discussed the current rates of single family housing starts and the current issues that builders face today such as the challenges of accessing enough credit to build.

Did you listen in on the webcast? If so, what did you think?

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Jessica Thom

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