It appears that across the industry people agree that things are looking up. Bloomberg News reported that the number of homes that were sold and not yet started is the highest that it has been in seven years, which is likely to increase the sales of building materials and appliances while also creating more jobs. In May, about 36% of all homes sold were yet to be built. The U.S. Commerce Department backs up the information, reporting that of 45,000 homes sold in May, about 16,000 were not yet underway. The CEO of Lennar reported that that between 1.2 to 1.5 millions homes need to be built this year to meet the demand.
Read the full article here: Housing Market Looks Brighter