2017 – More New Homes

Though the most recent data on new home construction showed that builders pulled back on new projects in November, the overall trend in home construction is clearly positive, with the average annual rate of new groundbreakings reaching a 1.163 million rate so far in 2016, up about 5% from 1.108 million in 2015.
Expect this to continue in 2017, as home builders are encouraged by higher wages, looser credit, and increased demand from buyers.