June housing starts are UP!!!!! According to economist Dr. Ken Mayland at ClearView Economics, the bottom for housing starts has been hit, and we are slowly rebounding back towards growth. New single family housing starts increased 3.6% in June, and forecast for 2009 have been increased by 8.7%. The recovery is underway!
It is particularly interesting to note this increase when foreclosures and existing home sales have increased in units and decreased in prices, making many bargains available to the buyer. Yet, new housing starts increased. This tells me that once the abundance of inventory is depleted, new housing is set to boom.
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