What will the new year hold for the housing and construction markets?
University of South Carolina Economist Doug Woodward is looking for a small growth in the housing market next year, but nothing big.
“It won’t be strong,” said Woodward. “It will be a long time before we see all this built-up excess inventory get taken away so that we can then see construction going on again. I don’t think there will be significant residential or commercial construction.”
The latest national report indicates that a tax credit for first-time buyers has sparked the best housing market in three years, but analysts say that even though the market is getting better that this is not a long-term rally. Home resales surged 7.4 percent in November. [Read more...]







