U.S. Outlook: The housing sector still on solid ground

Posted By Scott Anderson In Economic Outlook | No Comments

Despite a disappointing new home sales report for January, the U.S. housing market is poised for continued gains in the months ahead.

Graph showing recent upward trend in existing home sales. [1]Winter weather had an adverse impact on recent data, but it’s too early to call time on the housing market recovery.

For more economic analysis, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on Feb. 26.

Key observations:
  • According to the NAR, existing home sales crushed analysts’ expectations and signaled that the sector will continue recovering in 2016.
  • We believe the January setback in housing starts data was mainly weather-induced.
  • Perhaps the clearest indicator of improving housing demand comes from the mortgage purchase applications data.
  • We expect a 10.2% increase in total housing starts in 2016.
Click here to read my full report. [2]

Article printed from Bank of the West: https://changematters.bankofthewest.com

URL to article: https://changematters.bankofthewest.com/2016/02/26/u-s-outlook-the-housing-sector-still-on-solid-ground/

URLs in this post:

[1] Image: http://blog.bankofthewest.com/wp-content/uploads/2016/02/graph_homesales_022616.jpg

[2] Click here to read my full report.: http://blog.bankofthewest.com/wp-content/uploads/2016/02/BankoftheWest_USOutlook_02_26_16.pdf

Submit an Idea

[contact-form-7 id="32" title="Share An Idea"]

You are leaving the Bank of the West Change Matters site. Please be aware: The website you are about to enter is not operated by Bank of the West. Bank of the West does not endorse the content of this website and makes no warranty as to the accuracy of content or functionality of this website. The privacy and security policies of the site may differ from those practiced by Bank of the West. To proceed to this website, click OK, or hit Cancel to remain on the Bank of the West Change Matters site.