The U.S. economy begins 2018 poised for its best year since the Great Recession, while a projected uptick in construction activity could help ease the nation’s inventory woes.
That’s according to a HousingWire.com article, which quotes several prominent economists on the state of America’s housing market. National Association of Federally-Insured Credit Unions’ Chief Economist Curt Long told the publication that while December’s job gains failed to meet expectations, the labor market performed well in 2017, noting that wage growth rose modestly.
Another expert pointed to the fact that the construction sector added 30,000 jobs in December as a reason to begin 2018 optimistic about the housing market.
“December’s increase in construction labor is a hopeful reminder that things will eventually get better for our severely depleted housing market,” realtor.com Senior Economist Joseph Kirchner told HousingWire.com. “In fact, if this trend gains momentum, it could address one of the largest issues holding back inventory – a lack of construction labor.”