Monday, June 4, 2012

Home Construction Industry Insight: A Recent Bolster In Business

Industry professionals are happy to proclaim that they are busier than ever, seeing the largest spike in business in years. Consumer confidence in the housing industry, real estate, et al plays a large role and, according to the latest reports, it is justified. Mortgage rates are still at record lows and the real estate market is slowing climbing all around the board in all nine census divisions.

Just published over at MSNBC, Rise in new-home sales bolsters sense of housing revival
"When blended with Tuesday’s report from the National Association of Realtors that existing-home sales touched a two-year high in April, analysts say evidence of a modest real estate revival seems to be mounting. “Things are looking good,” said Pat Newport, an economist with IHS Global Insight. “These are still very low numbers by historical standards. But when combined with the NAR report, this tells us that something is going on. Prices are stabilizing after adjusting for inflation. “It’s hard to get a good picture of the housing market early in the year because (warming) weather can distort the numbers. But I think the picture emerging is a good one. The housing market is getting better,” Newport added. “We had a very good first quarter, and the numbers are telling us it was more than just good weather helping the market.”

All this spells for the housing industry, and therefore the housing construction industry, is good news. So if you're one of the many wondering what all of the construction work trucks are doing sitting all through your neighborhood, now you know why. It's as good a time as ever to jump on those home improvement projects. Although the industry seems to be rebounding, ever so slighty, contractors and professionals are still working on bare minimum contracts, so prices are definitely reasonable and often times lower than you may expect. Call a reputable local contractor and see what they have to say and see our tips on selecting the RIGHT contractor before you sign on the dotted line!


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