With home prices and household formations rising and household balance sheets healing, the ongoing housing recovery is expected to gain momentum next year even as several challenges remain, according to economists who participated in the recent National Association of Home Builders (NAHB) Fall 2013 Construction Forecast Webinar.
"The cards are in play for a decent and fairly strong recovery in 2014 and particularly in 2015," said NAHB chief economist David Crowe. "From the standpoint of GDP growth, housing has been a plus, growing at two, three and four times the rate of the rest of the economy in recent quarters."