By Emily Peiffer
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The housing market has been slowly climbing out of the Great Recession, and it still has a long way to go before reaching what are considered normal production levels. This month, a new trend started to emerge in the residential reports released throughout August. And according to experts, that trend mirrors exactly where the market should be.
Sales figures are following the traditional housing cycle pattern
Reports released in July were all positive with the exception of existing home sales, which dipped 3.2%. Builder confidence rose two points and housing starts increased 2.1%. Most notably, new home sales soared 12.4%.
Traditionally in the early stages of a housing cycle, existing home sales dominate the largest portion of the... Read the post at the Construction Dive website