Housing Climbing Out of The Basement, Will Support Growth in 2012 and 2013

On December 21, PNC Bank Economic Division issued a report regarding the current and future outlooks of the housing market. PNC reports that the housing market will grow in 2012 and 2013. Highlights of the report are as follows:

  

•  Housing data released for November 2011 show better homebuilding and sales activity than anticipated
• Activity remains at low levels, but is improving; most of the growth in construction is coming from multifamily housing
• There were downward revisions to existing home sales from 2007 forward, but this does not change the outlook.
• A housing turnaround will contribute to modest but sustained economic recovery in 2012

Click Download Housing to read the full report. For further information on the construction industry, please contact the construction professionals of McKonly and Asbury, LLP.