Far from an optimist, particularly facing what is now being termed as “The Great Recession,” I have to say all of the signs are pointing to a more robust housing market in the works, which ultimately bodes well for the countertop industry. And it’s about time!
According to an article that ran on ForResidentialPros.com in Sept., the second quarter of 2012 showed positive annual growth rates, according to all three headline home-price composites, for the first time in two years. And, as the headline of a Mainline News article touted, National home prices see largest yearly increase since 2006, many agree that the prices homes are fetching on the market are improving. This is a major sign the housing market is on the road to recovery.
Seeing people willing to pay more for homes, indicates that they are buying again, which not only may mean improvements to these properties in the works, but also indicates the number of available homes on the market is lower.
Another indicator is the lessening number of foreclosures, which have been flooding the market with cheap property. According to an article from Reuters issued Oct. 11, U.S. foreclosures are at their lowest point in 5 years, another good sign that the housing market has hit bottom and is rebounding.
That means we will likely see an uptick in new home building.
The National Association of Home Builders’ “Improving Market” indicator is also at a high, according to a recent report, which concurs with the other evidence.
So those in the countertop market who had been leveraged in the builder market when it dropped off a cliff in 2007, may now want to cautiously put a toe in the water and see if they can begin to get additonal business there.
It is doubtful we will see a level of activity near the peaks around 2006 any time soon, but with the unemployment rate now under 8 percent, these positive signs for the housing market make it difficult to be too much of a pessimist about 2013.