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Construction Law Authority / News  / Builders On Track To Build Largest Number of Homes in Four Years

Builders On Track To Build Largest Number of Homes in Four Years

 

According to a New York Times article, builders are on track this year to start work on the largest number of homes in four years. Builder confidence rose in December to a seventh straight month to the highest level in more than 6 ½ years, with the pace of home construction nearly 22% higher than this time last year.

                            

Because of rising sales combined with a decline in the supply of available homes, home prices had their largest year-over-year increase in 2 ½ years. Even more impressive is the benchmark from 2 ½ years ago against which this is measured is when the home buyer tax credit provided an artificial impetus to increased sales. Therefore, when compared against normal market forces, current home sales and consequent home construction is better than it’s been in many years.

 

Those of you in residential construction are already likely seeing at least a modest improvement in work loads. Those of you in commercial construction have reported increased work as well. We’re certainly nowhere near the levels we enjoyed six years ago, but the prospects for at least a slow and steady improvement in construction look good. As long as Washington doesn’t foul things up by discouraging business plans through tax increases and excessive spending cuts.

Lee Weintraub

Lee Weintraub

lweintraub@bplegal.com

At age 46, Lee Weintraub was the youngest recipient ever of the Lifetime Achievement Award from the Florida Bar’s Construction Law Committee. Mr. Weintraub is also an adjunct professor of law at Nova Southeastern University Shepard Broad College of Law teaching construction law. Mr. Weintraub has been recognized by Chambers USA – America’s Leading Business Lawyers every year since 2003. Chambers USA noted he focuses on licensing and construction defect litigation, but is particularly renowned for his expertise in the Construction Lien Law. He was also selected in the The Best Lawyers in America© every year from 2006 through 2018.

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