At the 2010 International Builders Show this week in Las Vegas, the NAHB’s chief economist David Crowe is predicting a rise in home starts for the spring, a dip mid-year (as tax credits expire) and then another rise by the end of 2010. From BigBuilderOnline.com:
The pace of housing starts will speed up this spring, slow and perhaps reverse course at mid-year, and then re-accelerate next winter and into 2011, the National Association of Home Builders’ chief economist forecast today.
David Crowe said the number of combined single and multifamily housing starts will rise from an annual rate of 565,000 in 2009′s first quarter to 677,000 this quarter. He forecast starts would climb to 688,000 in the second quarter of 2010, slip to 669,000 in the third quarter, and then rebound to 754,000 in the final three months of 2010.
Starts will keep escalating robustly in 2011, he predicted, climbing from an annual rate of 870,000 in the first quarter of that year to 1.22 million in October through December 2011…
Click here for entire story.
So it this unbridled optimism from the building community or does it seem realistic? I guess we’ll find out!
