Posted on May 19, 2017 by Jorie Helms

In his remarks in the latest issue of Eye on the Economy, NAHB Chief Economist Robert Dietz provided the following overview of the housing market:  

Modera Mosaic in Fairfax, Va., was a Gold winner in the 2016 Best in American Living Awards Multifamily category.

After a strong beginning to the year, total housing starts fell 3% in April. While single-family starts were effectively flat, multifamily development dropped 9% from the previous month, marking the fifth consecutive month of declines. Single-family permits also fell 4.5% in April, though on a year-to-date basis, single-family construction is up 7%.

Home builder confidence rose to a promising level of 70 earlier this month, according to the NAHB/Wells Fargo Housing Market Index. The combination of strong builder optimism with a healthy labor market and tight existing home inventory points to continued gains in single-family construction this year.

For further insights, go to the Eye on Housing blog.

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