Housing Construction Gains Are "Modest"
Fourth-quarter economic and housing acitivity returned to or exceeded their "last normal levels" of activity, according to the National Association of Home Builders/First American Leading Markets Index (LMI). The numbers - with 63 of roughly 350 metro markets achieving normal levels - represent a net gain of 11 markets, according to the report.
The index’s nationwide score moved up slightly to .90, which means that the nationwide average is running at 90% of normal economic and housing activity; 69% of markets have shown an improvement year-over-year.
“The markets are improving at a consistent pace,” said NAHB Chairman Tom Woods, a home builder from Blue Springs, Mo. “A growing economy and rising consumer confidence should help drive the release of pent-up demand in 2015.”
Click here for the NAHB's article.
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