2010 a Happy New Year for Real Estate and Economy
2010 Real Estate Market Investment Property Forecast
Builders focused on single-family homes are doing better as their inventory levels are down to 1971 housing levels for a population that is 80% more. NAHB is forecasting only 600,000 single-family home starts in 2010 as compared to 440,000 housing starts in 2009. The average single-family home starts in a normal economy are 1.5 million.
But multi-family housing will stabilize at end of 2010 but the housing starts in multi-family will decline in 2010 to 87,000 as compared to 112,000 in 2009. The major challenges faced by builders are still the lack of availability of credit and high vacancy rates.
Read NAHB’s forecast of 2010 for real estate and economy by CLICKING HERE
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