This Wednesday, the Housing Starts figures will be released. The housing starts report is the most closely followed report on the housing sector. The figures reflect the commitment of builders to new construction activity. Considering the housing shortage causing inflated prices across the country, economists are looking for these figures to see if there could be relief ahead.
U.S. economists are forecasting that Housing Starts will rise to 1.190 million in June, compared to the last 3 months that saw continuous drops. May’s numbers came back with a 5.5% drop to 1.092 million.
Senada Adzem, a housing expert and Director of Luxury Sales at Douglas Elliman is available as a guest to offer her analysis. Senada says the anticipation from U.S. economists are based off of “job creation, low interest rates, tight housing supply, and robust earning estimates.”
Senada Adzem is available for interviews this week leading up to the release of the new figures.
Talking Points:
- The 2017 Housing Crisis – How millions are being priced out due to high demand. And what can and is being done about it.
- Housing starts have dropped for three straight months. The main culprit has been the volatile multifamily market, but single-family construction has slipped as well.
- While new home sales still look solid, they are still low versus historical levels. There is an ongoing shortage of skilled labor and buildable lots which is constraining faster growth.
- Homebuilders slowed down the pace of construction for the third straight month in May, a possible sign that the shortage of houses for sale might worsen. Economists are looking up for June’s figures.
If you would like to interview Senada, please call (212)542-3146.
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