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Housing Construction Industry Looks Up in 2012

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Housing Construction

What follows is a summary of a recent CNN Money report on the state of the housing market.  The link to the full report can be found below.

Whether you own a home or you’re a landlord for a rental property, 2012 has started on a positive note for the housing construction segment as a whole. January saw a rising trend for both new home starts and building permissions, clearly signaling a revival in the ailing U.S. housing market. While the increase in housing starts was 1.5% from December to January, the market is rejoicing because this is a staggering 10% increase from the same time last year.

Market players are excited to see that the real estate market is reacting well to the general upturn in the economy. While they admit that the property market has a long way to go before it reaches full recovery, they are encouraged by the fact that the first step in the right direction has been taken. They believe the only thing impeding its progress now is the state of the job market. With unemployment rates continuing to drop for the fifth continuous month, things are beginning to look good. However, unfavorable unemployment numbers can prevent other markets from truly catching momentum on the upward trend.

For more data and statistics from this report, continue reading by clicking here.

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