Housing Hurting
02/25/2014 | | econ70, Economic forecasting, economist on radio, economist on TV, eisenberg and economics, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, funniest economist, funny housing economist, Graphsandlaughs, graphsandlaughs and eisenberg, housing data, housing sales, Housing Starts, MLS, mortgage banking, Multiple listing service, politics and economics, Public speaking economist
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.