Led by a 6% rise in single-family starts, nationwide housing production rose 2.8% above an upwardly revised February rate of 920,000 to a seasonally adjusted annual rate of 946,000 units in March, according to newly released figures from HUD and the U.S. Census Bureau.
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.
Nationwide housing affordability slipped several notches as recovering markets witnessed significant firming of home prices in the second quarter, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI), released recently.
The National Association of Home Builders (NAHB) 50+ Housing Council is now accepting applications for the 2014 Best of 50+ Housing Awards, which honor excellence in building, design, marketing and lifestyle of housing for boomers and beyond.
