A view of life and commercial real estate from Newark and Licking County, Ohio
Wednesday, April 18, 2012
Not this month, not next month.....
If one were to "right size" the average annual number of single family residential housing starts, based on about sixty years of history, one would think that 1,000,000 new homes a year would do the trick. Looks like 2012 will only deliver a bit more than half that number. This blog has already predicted that we are at least a year away from seeing the long awaited significant uptick in construction. A question: will the materials and contractors be available when the inevitable uptick comes? My guess is - nope. It sure looks from here that the industry has hollowed out over the past six years. So, if you are seriously considering building a new home in 2013 or 2014, you might want to consider getting a jump on the process. Once the market hits the 1,000,000 new home per year mark, those homebuilders left standing are going to be fairly busy. By the way, have we reminded you lately that we have some wondrous building lots available?