The market for new home construction continues to grow. Brad Finkelstein of National Mortgage News reported more economic evidence of a growing new home construction market in a March 14th article “New home mortgage apps signal strong market for homebuilding”.
According to Finkelstein’s article, February new construction loan applications grew 2.2% from a year ago and that Februrary’s volume was up 16% from the previous month. That is great news for independent home builders as the existing inventory of home for sale to be constrained.
Inventory constraints are also driving interest in home additions and renovation opportunities according to a February 2017 survey of NAIHBR members.