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