Housing Hurting

Recent housing data has been weak. It’s because the weather has been harsh, there’s a lack of developable lots and skilled workers, limited inventory, reduced investor buying, higher mortgage rates, fewer low-priced distressed sales and higher house prices. Despite these headwinds, new sales were up 16% and starts were up 18% in 2013. In 2014, expect activity to continue improving like in 2013 but new home prices will be flat.

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