Recap: Metrostudy 4Q16 Housing Webcast
On October 25th Metrostudy’s Chief Housing Economist, Mark Boud, presented a quarterly market update to a virtual room of more than 1,200 registrants. Our Regional Directors, John Covert, Colorado; Eric Allen, Utah; and Todd Britsch, Washington joined Mark in a round table lightning session to share an outlook and trends for their “hot” local markets.
In case you missed this terrific presentation, we’re pleased to share the recording from this recent webcast. This is a not to be missed session for anyone participating in the residential construction space.
Here are just a few highlights and key takeaways for 2017 based on the current numbers:
- 1.27 million starts and 1.16 million closings (including multi-family)
- By the end of 2017, the U.S. housing market will be under supplied by 2.5+ million homes, with the beginnings of potential over valuation
- 2.8 million jobs will be created on slightly slower job growth than in 2016 (international demand slows, potential public policy challenges/tax increases)
- Mortgage rates will begin to gradually rise
- Remodeling and Replacement activity will reach another new high in 2017, with a 4.2% increase (due to too few new homes being constructed).
View the webinar and get the national scoop and a more detailed analysis for the hot markets of Denver, Salt Lake City, Seattle, and Portland.