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Fitch: New-home sales should go up 14.6% this year

May 13th, 2016 8:19 AM by Brent Ferry

NEW YORK – May 12, 2016 – Steady order growth and strong backlogs should continue to support healthy financials for U.S. homebuilders for the remainder of the spring and beyond, according to Fitch Ratings. Potential impediments include a slowing U.S. economy, volatile financial markets, and labor issues relating to cost and an adequate supply.

"Low oil prices, generally healthy employment growth and pent-up demand should help support the housing upturn for at least the next few months," says Robert Curran, managing director and lead homebuilding analyst.

Fitch projects that single-family starts will expand about 11.5 percent in 2016 and multifamily volume will gain about 4 percent. New home sales should improve about 14.6 percent, while existing home sales rise 3 percent.

Fitch expects the housing upcycle to continue in 2017. It projects single-family starts to improve 10 percent as multifamily volume grows 5.1 percent. Fitch also expects new and existing home sales to increase about 11.5 percent and 4 percent, respectively.

© 2016 Florida Realtors®

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Posted by Brent Ferry on May 13th, 2016 8:19 AM

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