NAHB Optimistic for Continued Construction Growth
Optimism reigned during the National Association of Home Builders’ (NAHB)
recent Construction Forecast webinar. David Crowe, NAHB chief economist,
opened the session by pointing out how nicely it coincided with the Census
Bureau’s release of good news in the area of housing starts, a “nice solid
increase of 15-percent housing starts … and a similar increase in housing
permits.” Crowe called this “solid evidence” that “recovery is underway.”
Survey Says Remodeling Industry Plagued by Uncertainty
The National Association of the Remodeling Industry’s (NARI) third-quarter
Remodeling Business Pulse data of current and future remodeling business
conditions is positive overall but there are mixed sentiments about the
future and challenges still to overcome.
National results placed predictions in the next three months
at their weakest point this year, dropping 6.3 percent since the second
quarter. More specifically, this quarter’s data attributes future declines
to the following: high uncertainty at 76 percent, unemployment at 24 percent,
and difficulty in acquiring loans, also at 24 percent.
What has stayed consistent is the overall business conditions
data which shows a majority of NARI members feeling positive about all
four indication areas: inquiries, requests for bids, bid conversions and
value of jobs sold.
Chinese Construction Expenditures to Increase Through
Construction expenditures in China will increase 8.8 percent per annum
in real terms through 2016, according to the Freedonia Group, a Cleveland-based
research firm which has released a new study, “Construction Outlook in
China.” Residential building construction is expected to advance at an
8.5-percent annual pace in real terms through 2016, primarily spurred
by rising personal income levels, household growth and continuing urbanization.
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