The housing market shrank to only 27% of normal construction on average only a few years ago. Four years later, the market has come a long way and, despite the revised estimate for 2013 actually falling, economists at the National Association of Home Builders (NAHB) believe that 2014 will show a strong recovery and 2015 will be even better, with single-family housing starts rising more than 30% in 2014 to 826,000 and then exceeding one million the year after, which will be 93% of what the NAHB considers normal production. These predictions are encouraged by the fact that some areas have already risen beyond pre-recession levels.
Read the full article here: NAHB Lowers Estimate for Single Family Starts