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Your home buyers may want to look more closely at the housing<\/a> starts numbers, even if they don\u2019t intend to buy new.<\/p>\n Housing starts, or\u00a0the number of new homes that builders have begun construction on, tend to follow a seasonal pattern\u2014increasing in the spring, peaking in the summer, receding in the fall, and dropping to their lowest levels in the winter.<\/p>\n An increase in housing starts should make for good news for home buyers.<\/p>\n \u201cHousing starts, when they are completed, add supply [and in turn] reduce upward pressure on new-home prices and may even reduce them,\u201d says Andres Carbacho-Burgos, a senior economist at Moody\u2019s Analytics.<\/p>\n Therefore, even if buyers aren\u2019t buying new, they can still benefit from a healthy level of housing starts, says Danielle Hale, managing director of housing research at the National Association of REALTORS\u00ae. A high number of homes, whether old or new, will decrease prices for all homes, she notes.<\/p>\n Housing starts have been in gradual recovery mode the last few years. In 2016, starts were at 1.23 million units.<\/p>\n \u201cWe\u2019re relatively optimistic\u201d for 2017, says Carbacho-Burgos. \u201cBy the end of 2017, we expect housing starts to be closer to 1.7 million,\u201d a 10 percent increase from a year earlier.<\/p>\n Source: \u201cWhat Are Housing Starts, and Why Should Home Buyers Care?\u201d realtor<\/a>.com\u00ae (May 1, 2017)<\/em><\/p>\n<\/div>\n<\/div>\n [ad_2]
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