With US residential construction spending up 5 percent compared to 2011, it appears the industry may be through the worst of the post-recessionary storm.
A number of factors are driving the rebound in housing starts, including robust growth among young Latino first-time homebuyers, improving personal income, and other signs of industry stabilization. Our new infographic from the Hoover’s and First Research teams at D&B illustrate these and many other opportunities — and stubborn challenges — facing residential builders.
Developed by D&B digital properties marketer Nikki Sein and Hoover’s product visual designer Casey Decker, the US Housing in 2012 infographic uses data from Hoover’s and First Research to dissect some of the most important factors influencing the long-awaited return to form for the sector. Important factors include booming populations in Maryland; Washington, DC; North Carolina; and Texas; not to mention forecasts predicting a migration away from renting toward homeownership.
Still, challenges remain, not least of which are various material sourcing problems from foreign countries. D&B’s Country Riskline Report provides a regularly updated snapshot of this and many industry segments to monitor and evaluate business conditions.
Besides these, what trends do you see emerging in the residential construction market? What’s working for contractors? What might pose new obstacles to housing starts? We invite you to share your thoughts on these and other issues in the comments below, and share the infographic with friends and colleagues by clicking the image above.