NAHB Chief Economist David Crowe is forecasting 575,000 single-family home starts in 2011, a 21 percent bump over an estimated 475,000 units started in 2010, according to his annual state of the market report at the International Builders’ Show in Orlando last week.
Crowe and other economists at the show agreed that the housing market will see steady improvements in activity this year, followed by considerable gains in 2012. “This year’s spring selling season will be better than last year’s,” thanks primarily to job growth, Crowe said.
Multi-family housing will see starts rise 16 percent this year to 133,000 units, with a further 53 percent increase in 2012 to 203,000 units, according to Crowe.
For more on Crowe’s outlook, see NAHB’s recap of his report: http://www.nahb.org/news_details.aspx?newsID=11949