House starts rose to the highest level since the industry setback earlier this year, according to the Daily Business Review. Home construction exceeded the highest predictions by rising to 15.7 percent.
We are in a particularly interesting point in the recovering economy. There are more jobs being created but borrowing costs remain low. Consequently, more families are able to venture and buy their first home.
At the same time, homebuilders continue facing challenges because individuals recovering from the recession bring with them recovering credit and first time buyers their brand new credit.
As the market makes its comeback, the housing demand still surpasses construction. Therefore sales continue to grow. In spite of all financial obstacles, the future of housing looks brighter than it has in a long time.