NAHB Economist Forecasts 39% Growth in Housing Starts in 2016

New Orleans, LA, May 15, 2015—David Crowe, chief economist for the National Association of Home Builders, is calling for a 39% growth in single-family housing starts in 2016.

Specifically, Crowe indicated that single-family starts would rise 9% this year to 704,000 units and rise to 977,000 units in 2016. 

In his talk at the annual Carpet America Recovery Effort (CARE) meeting, Crowe presented several slides showing that this current recovery was the slowest on record but that pent up demand should heat up the housing market next year.

Not only are most of the key economic indicators continuing to trend favorable, but household formation statistics tracked by the U.S. government have more than doubled in the last two quarters and are tracking at almost 1.5 million on an annual basis.

Crowe’s call on the overall economy (GDP) remains conservative with a 2.4% growth in 2015 and a 3.0% growth in 2016.

Listen to today's interview with David Crowe here.