Posted 3/19/2024, 5:32:00 PM
Housing Market Gains Momentum as Construction Jumps, Builder Confidence Rises
- Housing market activity picking up after years of muted growth due to high prices, rates, and low inventory
- February housing starts rose 10.7% month-over-month, the highest gain in 9 months
- Building permits also increased 1.9% month-over-month, the biggest leap since August
- Homebuilder confidence index moved into positive territory for the first time since July
- Forecasts show diverging paths for single-family and multi-family construction over next 2 years