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Moody's Issues Positive 2017 Forecast for Housing Industry

Homebuilding, Building Materials Sectors to Post Solid Gains


Demand will remain high and average home prices will rise at a slower rate in 2017, according to Moody's, which will benefit the homebuilding and building materials sectors.

Moody's forecast for 2017 in the homebuilding and building materials sectors is rosy, according to data Construction Dive obtained from a research report by the credit rating agency.

Revenues in the homebuilding industry are predicted to rise at an annual rate of more than 10 percent for the next 12 to 18 months, while operating income in the building materials sector should expand by more than 7 percent during the same time frame.

Home prices are expected to continue climbing in 2017, but at a slower pace, Construction Dive said, citing a report from that predicts a rise of 3.9 percent in the average price of homes, and sales gains of 1.9 percent.

"With demand for homes outpacing supply in many parts of the country, builders remain optimistic for future building activity," Construction Dive said, noting that the National Association of Home Builders' Housing Market Index held steady in November with a mark of 63.

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July 17, 2019, 8:32 pm PDT

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