Industry Analysts See Signs of Homebuilding Rebound

As the Wall Street Journal reports, homebuilding climbed to the highest level in 19 months during November. While the surge was fueled mainly by apartment construction, single-family housing starts also ticked up by 2.3 percent.

Of particular interest were the comments of a couple of industry analysts.

Ian Shepherdson, economist, HFE: "The single-family sector will continue to lag but the surge in sales reported by the NAHB suggests the sector is beginning to wake from its long sleep; expect sustained gains in sales and start ahead.”

Paul Diggle, economist, Capital Economics: “Housing starts rose strongly in November, building on the gains seen since the start of the year. By historical standards, homebuilding activity is still very depressed, but at least it appears to be on an established upward trend.”