Home construction is at a five year high, with an 8.3 increase this last month, at an annualized pace of 497,000 homes, higher than expected. This is good news for job-seekers, as more homes does not only mean that of course more home-builders will be employed, more realtors, attorneys, etc. The change is emblematic; it means that if so many people are willing to buy, so many people are secure to buy: they feel secure in their jobs and spending to continue the American Dream, to step forward with their lives, after the Recession that hit us in 2009.
As the median estimate for home building was 484,000, this is higher than expected, and welcome, as it shows our increase confidence.
“It’s a builder’s market,” said Stuart Hoffman, chief economist at PNC Financial Services Group in Pittsburgh, who predicts a 500,000 pace. “The housing market is posted for further gains and is a key component of the U.S. recovery overall.”
Bloomberg agrees the pace could increase between as high as 518,000; and as all these markets are wrapped up together, integrated and globalized as we are, this is good news for everybody. We are seeing continual signs that the market is swelling back to capacity. Job seekers can search with more confidence.Best Home Sales in 5 Years by Andrew Ostler