Letter from the Developer of Summerfields West
SINGLE-FAMILY HOME CONSTRUCTION HITS 10-YEAR HIGH, BOOSTING HOUSING STARTS
According to a Commerce Department report in December, housing starts increased 3.3 percent to a seasonally adjusted annual rate of 1.297 million units. That was the highest level since October 2016.
In November, 2017, single-family homebuilding, which accounts for the largest share of the housing market, jumped 5.3 percent to a rate of 930,000 units. That was the highest level since September 2007.
What does all this mean for home buyers? According to the U.S. Consumer Confidence Index (CCI), a barometer of the health of the U.S. economy and based on consumers’ perception of current business and employment conditions, and expectations of those two, plus income for the next six months,* the index increased to its highest level in October, 2017 in almost 17 years. Stocks have been lifted by strong economic growth, and the job market has seen more favorable ratings than have been seen since the summer of 2001. This high level of confidence points to an economy that will continue to expand at a solid pace.
All of these indicators suggest that now may be the perfect time to consider selling your family home that is too much to keep up – not to mention that the stairs are becoming more difficult and the yard no longer holds that draw to get out and pull weeds, prune hedges or mow the lawn – not to mention the dangers of climbing on ladders to clear gutters and downspouts! And you’d probably like to have time to be more social – meet new friends and do some of the things you always wanted to do – maybe even travel a little.
Think about it! And then consider visiting us at Summerfields West, Williamstown’s new 55+ community. Tour our fully decorated models, talk to the neighbors, check out the Recreation Center and see how wonderful life can be in a Temple Companies Lifestyle Community! We’d love to meet you!
Happy New Year!
President, The Temple Companies