Housing activity across the board slumped in December as the industry continued its pattern of waxing and waning growth. Despite the decline, final estimates show the industry came out ahead for the year.
Kelsey Marshall and her boyfriend Chris Eidam, both 27 years old, call the home-buying process “terrifying.” But they’re clear about one thing: It beats the heck out of renting.
“We’re wasting money where we are right now,” near Bridgeport, Connecticut, Eidam said. “We just take our rent and we throw it away. That money doesn’t go to anything.”
Housing construction roared back in October, quickly recovering from the setback in September resulting from hurricanes, floods and fires. New home sales continued to rise, as did sales of existing homes.
Altogether, the industry experienced its most solid performance for the year as builders and realtors strive to keep up with increasing demand in the face of ongoing challenges. Weather permitting, the industry seems headed toward another year of positive, if modest, growth.