The Residential Economic Report – National Edition 2Q16
Join Mark Boud, Senior Vice President & Chief Economist of Metrostudy, as he presents the 2nd Quarter 2016 National Residential Economic Report. These reports are available for every major US Metropolitan market. For more information on The Residential Economic Report, visit: http://metrostudy.com/products-services/residentialeconomicreport/
Second quarter report highlights —
- Metrostudy forecasts that 1.28 million residential permits will be issued in 2016, translating to construction of 1.1 million homes and apartments. For every house built in the U.S., 2.8 jobs are expected to be created.
- With 2.8 million jobs created during the past 12 months, the economic expansion continues to fuel strong demand for new housing.
- Mortgage rates have continued to decline in 2016, but are likely to begin to rise slowly during the latter part of the year.
- Over the next five years, the state of housing is expected to stay healthy in terms of transactions and volume, but demand will most likely continue to outpace supply.
About the report: Metrostudy’s National Residential Economic Report is a modeled forecast released quarterly of over- and under supply of housing in the nation, as well as over- and under valuation, which impacts the future of housing most significantly. The five-year forecast is further informed by recurring national indices that track construction starts, employment, and other key indicators, and provides Metrostudy a framework to forecast the future state of housing across the nation, and in major markets.