Housing Recovery to Grow in 2016, but Challenges Remain

Businessman Consulting Financial Crystal Ball

Businessman Consulting Financial Crystal Ball

Steady employment and economic growth, pent-up demand, affordable home prices and attractive mortgage rates will keep the housing market on a gradual upward trend in 2016.

However, persistent headwinds related to shortages and availability of lots and labor, along with rising materials prices are impeding a more robust recovery, according to economists who participated in the NAHB Fall Construction Forecast Webinar on Oct. 21.

“This recovery is all about jobs,” said NAHB Chief Economist David Crowe. “If people can get good jobs that pay decent incomes, the housing market will continue to move forward.” Read More…

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