A respected New Braunfels, Texas, real estate developer, Dean Buescher manages Vintage Estate Homes and oversees custom residential home building projects. Dean Buescher stays well informed of the latest mortgage and interest rate trends, as well as forecasts in the U.S. housing market.
As reported by Bloomberg in July 2016, the residential construction sector is in a modest yet sustained growth pattern as the lingering effects of the last recession diminish. New home construction expanded more than expected nationwide. In particular, residential starts rose nearly 5 percent to an annualized rate of 1.19 million. At the same time, the number of permits issued, typically a good indicator of future building trends, also increased.
An economist with Standard Chartered Bank in New York commented that continued low mortgage rates has been one major factor in ensuring steady home building growth. In addition, consistent job growth is likely to ensure that the present trends continue and pick up strength.
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