The Z Report: Single-Family Construction Growing Faster Than Projected
July 19, 2019
The latest edition of The Z Report, published by the research firm Zelman & Associates, has good news for builders in the single-family new construction market. Survey data shows growth in the market has surpassed the firm’s expectations, suggesting the second half of 2019 is now positioned for even stronger momentum.
From The Z Report:
To start, our proprietary monthly Homebuilding Survey revealed seasonally-adjusted strength in June, the fifth instance of sequential monthly improvement so far this year. Thus, our participants posted 11% year-over-year growth in new orders, accelerating from 4% in May and leaving 2Q19 up 5% from 2Q18. This compares to an 8% decline in 1Q19 and a 16% plunge in 4Q18.
As Zelman & Associates has detailed extensively in past editions of The Z Report, the last quarter of 2018 was dismal for the housing market, but researchers continue to view that weakness as temporary.
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