According to a report made by a popular news magazine, new residential construction projects increased by 22.7% during the month of November in 2013, which is considered by experts as the highest one-month improvement until today. But why bring this old news now? Frank Owens Limited simply wants to highlight the “revival” of the homebuilding industry worldwide. It is a strong testament that shows the crucial significance of this industry in every community.
Experts say that it is just a matter of time before it ends up with a steady and stable performance, and this is definitely good news to the individuals and companies involved in this industry. There was even a prediction based on the expected economic recovery, saying that it could result in an increased number of houses – from 300 to even half a million around the world. Because of the growth in this industry, other predictions say that the economy would begin to take advantage of this as real estate and residential building prices would become higher.
This year has no difference because experts still have high expectations for this industry, thus they create more predictions and many of which claim that there will be a sustained gradual growth in homebuilding for the following years. Based on a study reviewed by Frank Owens, Ltd., this is based on the recent improvements in the employment and economic sectors, as well as the affordable prices for housing and reasonable mortgage rates.
However, the growth in this industry still depends on the availability of land, labor, and materials even if there is an apparent increase in jobs. These important elements also need to keep up with the growing demand. Other predictions for 2016 also include a 20% sales growth because of more than 10% increase in the single-family homebuilding. This particular prediction is based from the “post-crisis” of housing market along with the current steady position of the home-ownership trend.
Frank Owens, Ltd. doesn’t let a single trend in the homebuilding industry slide because they make sure that they are always updated. The company fully understand the aspects that could affect the industry, thus they provide great service through recruiting reliable key personnel because they know that every industry needs executives that can provide technical and managerial skills to keep their respective businesses in good shape.