A new forecast by the National Association of Home Builders (NAHB) is predicting that the construction industry will mount a turnaround in 2012, although the real gains may not be seen for another year, reports The Associated Press.
"I'm looking at 2012 as sort of a ramping event to get a much more solid recovery in 2013," NAHB Chief Economist David Crowe told the news source.
At the trade association's national conference in Orlando, Crowe told the gathered construction industry members that new home sales would jump by 19 percent this year, up to 360,000. Last year's total of 303,000 new homes sold was a record low. More home sales results in more single-home construction projects for contractors to take on. However, the sales are still below what many would consider to be a healthy housing market.
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