Metrostudy's Home Building Outlook for 2Q 2016 predicts "U.S. housing starts...to advance gradually and hit 1.18 million this year, with 813,000 of those being single family homes as defined by the Commerce Department," Mark Boud writes for ProSales' sister publication, Builder. The data also indicates that new home sales will increase to 565,000 this year, 64,000 more than in 2015.
Boud also outlines the best markets:
The best overall new home markets are Denver, Boise, Sarasota/Bradenton in Florida, and Salt Lake City in terms of health and local new home sales forecast. The sunbelt dominates in terms of sales volume, with the largest new home markets expected to be Dallas, Houston, Phoenix, and Atlanta.
Boud also sees a promising future for the housing market:
“The U.S. housing market continues a steady expansion,” [says Boud]. “We expect similar gradual growth in volume for the next several years, but with slower price gains, especially in the new home sector. Single family construction is finally expanding more quickly than multi-family, an expected eventuality as the market recovery matures.”