In the latest Key Indicator Alert from Hanley Wood Market Intelligence, the slightly positive economic news continues for the remodeling and home improvement industries.
Both new and existing home prices continue to rise slightly. Existing home sales rose but new home sales fell slightly. Mortgage rates are continuing to creep up, too. Those factors are making possible buyers re-think their wait and see strategies. It may be time to jump into the market.
And inventories of both new and existing homes are continuing to go down. That means we are working through the foreclosed homes (although slowly) and there are less homes available.
So what happens when there is less supply and more demand? Prices go up. Everyone wants what they can’t have. And the housing industry heats up again.
Check out more business advice for your remodeling or construction business.
Friday, June 26, 2009
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