Signs of life in residential construction market
Special to The Washington Post
(Source: US Census Bureau, GMU Center for Regional Analysis) Nationally there has been an uptick in residential starts and building permits at the end of 2011 and in early 2012. The increase in building activity has been accompanied by greater confidence among builders, as measured by the National Association of Home Builders housing market index.
The positive signs in the residential construction—though still modest—are important indicators of the improvement in the overall economy. The revival of the housing market is essential to sustain and expand the fragile economy recovery.
In the Washington area, residential construction began to improve earlier than in the rest of the country. The trough of residential building activity occurred in 2009. The number of building permits issued regionwide was up in 2010 over 2009, and building activity expanded even further in 2011.
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(Source: US Census Bureau, GMU Center for Regional Analysis) Nationally there has been an uptick in residential starts and building permits at the end of 2011 and in early 2012. The increase in building activity has been accompanied by greater confidence among builders, as measured by the National Association of Home Builders housing market index.
The positive signs in the residential construction—though still modest—are important indicators of the improvement in the overall economy. The revival of the housing market is essential to sustain and expand the fragile economy recovery.
In the Washington area, residential construction began to improve earlier than in the rest of the country. The trough of residential building activity occurred in 2009. The number of building permits issued regionwide was up in 2010 over 2009, and building activity expanded even further in 2011.
Click here for full article
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