On Thursday February 27th David Crowe, Ph.D – Chief Economist and Senior Vice President of the National Association of Home Builders (NAHB) spoke to a full house at the Boar’s Head Inn.
Crowe was confident about the continued growth for the Charlottesville housing market. That news helped relieve concerns about rising mortgage rates, the economy and new mortgage rules.
“Consumers are back, pent-up demand is emerging, there is a growing need for new construction, distressed sales are diminishing and builders see it.”
The areas expected growth is an indicator of a future strong housing market, Crowe said. Housing growth depends on an increase in population growth, and Charlottesville is listed among the cities that outpaced the state in growth since 2010, with 3.7 percent increase.
Nearly every measure of housing market strength—sales, starts, prices, permits and builder confidence—has been trending upward in recent months and we expect to see gradual but steady growth along these lines.
Want to check out the slides from Crowe’s presentation? The Blue Ridge Home Builders Association now has them available for download, here!
(Photo by Bill Storer)