“This month’s reading is in line with recent data showing stronger sales in both the new and existing home markets as well as continued job growth,” said David Crowe, NAHB’s chief economist. Mortgage applications are close to their highest level in two years, indicating that a growing jobs market, continued low interest rates and a strengthening economy are helping home sales.
Ian Shepherdson, chief economist with Pantheon Macroeconomics, says the new numbers do seem to suggest “a real housing upswing is underway.”
Hurdles, however, remain. Lenders are still skittish about financial and legal risks attached to making loans, buildable lots are becoming more rare, and as MHProNews reported July 3, 2015, labor shortages still trouble the trades, fallout from workers leaving the industry following the housing bubble. ##
(Photo credit: housingwire)
