When the housing market starts booming it has a definite ripple effect. Industries all around reap the benefits. According to a recent article on Bloomberg.com, all around gains in U.S. housing permits across the country signal a rebound in the housing market.
Photo via: Housing Chronicles
We are extremely thrilled to hear of this great news. The facts are in. According to the US Commerce Department, they reported on March 19, 2013 in Washington, permits (NHSPATOT) rose 4.6 percent to a 946,000 rate, the most since June 2008.
We are looking forward to a trickle down effect in the Texas, Georgia, Alabama and Florida markets as well. The outlook is good, even industry leaders are confident:
“We’re optimistic about the housing recovery,” said Anika Khan, a senior economist at Wells Fargo Securities LLC in Charlotte, North Carolina, a subsidiary of the largest U.S. mortgage lender and the second-best housing starts forecaster over the past two years, according to data compiled by Bloomberg. “We’ll continue to see construction pick up. Housing continues to be a bright spot for the economy.”
Photo via CNN Money
When Residential construction gains it fuels home improvement, appliance makers such as Whirlpool Corp (WHR). to retailers such as Lowe’s Cos. (LOW) and Home Depot Inc. (HD)
The housing turnaround is starting to show in Mooresville, North Carolina as their local Lowe’s is hiring 9,000 permanent part-time workers this year as it sells more appliances and bathroom fixtures.
What turnarounds have you seen in your market? We want to know! Comment below!