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Home Building Outlook Positive!

July 21, 2012

Last week in San Francisco, the mood at the Pacific Coast Builders Conference was the most pleasant and optimistic in five years. For the last 50 years, the conference has brought thousands of homebuilders, contractors, lenders, developers, architects, and manufacturers together to talk, shop, and learn about what’s next for homebuilding on the West Coast.  This year builders are reporting more traffic at subdivisions, and sales are picking up. Nationwide, lumber shipments are up, and residential construction activity is increasing significantly. So far the outlook for 2013’s builders is looking positive!

Builder Magazine reported, which is based on U.S. Census data: private residential construction spending in May totaled $261 billion, a 3% gain over April and an almost 7.5% gain from May 2011. The biggest boost was in apartment construction, which posted a “jaw-dropping” 50% increase, although single-family construction increased 15% from May 2011.

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