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Healthy Rise in Single-Family Building Predicted
Sector Forecast to Climb More Than 12 Percent


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HomeAdvisor says lot shortages will "worsen" in 2017, land prices will "skyrocket," and construction firms will continue to be plagued with a lack of qualified workers.


HomeAdvisor's forecast for 2017, versus 2016, calls for single-family construction to increase 12.2 percent to about 900,000 units, while the multifamily sector is predicted to decrease by 10.7 percent to 343,000.

The 2017 single-family prediction is similar to the rate of expansion in 2016.

Several factors shaped HomeAdvisor's overall forecast, including continued steady but modest job growth in 2017; worsening lot shortages in so-called "A" and "B" locales; "skyrocketing" land prices in premium areas; rising mortgage rates; and a persistent lack of construction laborers. "There is a risk of slower job growth and income growth in 2018-2019," HomeAdvisor said, "but probably not a recession, just slow growth."







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December 14, 2017, 11:08 am PST

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