CURRENT NEWS & Market Report
March 4, 2019
Economic experts see slight rise for new home construction in 2019
Moderate housing growth forecast for 2019
BY HBSDealer Staff
LAS VEGAS – At the 75th edition of the International Builder’s Show, National Association of Home Builders (NAHB) Chief Economist David Dietz said he expects the industry to see moderate growth in 2019.
Dietz, along with a panel of economic experts who provided their economic outlooks for 2019 at the Las Vega Convention Center, also suggested that there is no major threat of a recession on the near horizon.
The NAHB is projecting 1.26 million total housing starts for 2018, and it expects overall production to inch up 0.8% in 2019 to 1.27 million units.
Single-family starts are expected to hit 876,000 units in 2018, and rise an additional 2% to 894,000 this year.
“Ongoing job creation and solid household formations will keep demand firm, but builders will continue to grapple with supply-side headwinds that will dampen more vigorous growth in the single-family sector,” Dietz said.
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