Single family housing starts stabilize

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single family housing starts stabilize

Insight and Analysis of Construction Industry Trends

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Jim Haughey

RCD Chief Economist

May 19, 2009

The Reed Construction Data housing forecast is not changed by the April report. We still expect total housing starts to recover to 550,000-600,000 by the end of this year and 750,000-800,000 by the end of next year. This means that residential jobsite construction activity will drop up to 5-10% more into early summer before homebuilders have both the customers and the credit to expand their work-in-process inventory in anticipation of rising sales. In turn, this means that residential jobsite materials consumption will begin rising at the end of the summer leading to resumed growth in materials production soon after. But pricing will remain weak into early next year.

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