Thanks to recent statistics from HUD and the United States Census Bureau we know single family home starts increased by 6 percent recently from 920,000 in February 2014 to 946,000 units in March 2014.
No More Home Inventory Concerns?
The good news about the increase in housing starts is music to the ears of many Realtor’s and Economists across the United States who has been waiting patiently for more homes to be built to keep up with the demand for homes.
Right now the “boom” areas in the United States where new homes are being built is the Midwest and Northeast, both parts of the United States which were hit hard recently by harsh winter weather but thankfully with the start of spring and warmer weather more home builders are able to get to work and start building again.
More Home Builders Being Cautious
In spite of the good news about housing starts the National Association of Home Builders has also recently reported more home builders are cautiously optimistic about the economy right now and are slowly scaling up their home building.
It’s no surprises home builders across the United States are taking it slow when it comes to building more homes because, with a shaky job market and slow growth economy the typical home builder in the United States doesn’t want to get their supply of homes for sale ahead of consumer demand.
Multi-Family Home Construction Increases
Another interesting thing about the housing statistics from March is construction of multi-family homes has also increased nationwide as well and multi-family home starts accounted for 292,000 of the housing starts for the month of Match alone.
With the weather getting warmer in Bend and the credit market slowly beginning to open up for the average home buyer of a single family home there’s never been a better time to buy a home in Bend.
To learn more about the latest Real Estate market news or to view homes for sale across Bend contact me today by calling (541) 383-1426.