2012 Housing Predictions for WV and PA New Homes
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Housing Predictions for 2012
In a couple of days, millions of Americans will uncork the champagne and toast to the prospect of a rosy new year, full of fresh possibilities. Your New Year’s resolution may be as simple as cleaning the hall closet in your PA new homes, or as daunting as burning the calories from the holiday binge eating we all seem to indulge in this time of year.
Here at S&A Homes, our resolutions tend to be a bit different. Our job is to make sure we keep our customers happy during 2012 by building the homes people are looking for and building enough of them! So, how exactly do we forecast projected housing starts and settlements? Well, here on Main Street, we tend to look at Wall Street first and then factor in for our local economies, job growth in addition to intangibles that can drive housing markets up or down.
So what is on the horizon in 2012? First, looks like (hold breath and cross fingers) 2012 may just be the pivotal year that housing has been hoping for the last several years. Let’s first look to Wall Street. On Dec. 20, good news broke in the housing sector, and we are optimistic that the trends will continue to hold their weight throughout 2012.
- The US Department of Commerce reported that housing starts reached an 18-month high in November, 2011 with 684,000 starts.
- The NAHB Housing Market Index feature its 3rd straight month of gains for a 19-month high in builder confidence.
Then, it’s time to look at the local housing markets. Pittsburgh just ranked in the top 5 for housing price growth in the nation during 2011. State College, PA was ranked the second most secure small town in the United States according to a recent Farmers Insurance Group of Insurance study. Even the PA and WV new homes in our smaller markets like Bridgeport, WV and Gettysburg, PA are experiencing an internal uptick in consumer interest.
So, all signs are pointing to Yes for a positive housing year ahead, but only time will tell if the trends bring happy news to home buyers and sellers alike in 2012. For more information on new homes in PA, please visit us on the web.
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