Home sellers and PA new home purchasers alike are looking for positive trends in the housing market. At times, it can be difficult to sort the fact from fiction. This person says it looks bad – that person says it looks good. How do you really know? Outside of some very credible sources (we have quoted the Wall Street Journal a few times this year), the only way to really know is to look at the data. Sometimes digging into the numbers and analyzing them to figure out which way is up and which way is down is the only way.
Last week, HousingZone.com did just that and bundled up all of the relevant housing statistics, including an analysis of the national employment situation, to come up with a heads or tails of the housing market.
Some of the key takeaways?
- National unemployment is at its lowest rate in more than 2 years. There is still work to be done here, but numbers are trending in the right direction.
- Housing starts have increased.
- Pending sales have also increased, meaning the glut of inventory is going down.
- Consumer confidence is up.
- Existing home sales are also up.
- Residential construction spending is up.
- Construction industry is adding the most jobs it has since 2006.
- Builder confidence is at an 18-month high.
- Single family starts are up.
We remain cautiously optimistic, and only time will tell if the trends will hold; but it certainly suggests good news for those hoping we are rounding a corner in the housing market. To dig deeper into the actual numbers, click here.
For more information on the housing marketing in PA and WV or to see what makes us a top Pennsylvania builder, please visit the S&A Homes website.