Housing Comes Out of Hibernation

Spring is officially here, and that signals an awakening of all sorts, including the housing market. The numbers indicate an upswing not just due to the season, but compared to the slump of the previous few years.

Housing starts are up 19% over the past year. Not only that, but they are up 34% in February 2012 vs. February 2011. Add to that an increase in the National Association of Home Builders confidence survey, reaching the highest level since mid-2007. So what is contributing to this shift? Reduced unemployment, new rental construction and stabilizing home values in neighborhoods, to name a few.

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