The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Commerce Department report on December residential construction:

“Let’s hope the rising trend in new home construction continues throughout 2017. As evidenced by the brisk pace of rent and home-price growth,  the country desperately needs more housing units.  Aside from providing consumers with more choices, the increased construction also brings added benefit of boosting economic growth and job creation. Ideally, housing starts should be in the range of 1.5 to 1.6 million.

Good news today on trend, but still far from the goal.”

Source: Newsline

Copyright NATIONAL ASSOCIATION OF REALTORS®. Reprinted with permission.

This Article Appears Courtesy of Steven Diadoo

Steven Diadoo, Licensed Realtor in MN with BRIDGE REALTY and best-selling author of 'Road to Success' with Jack Canfield (Chicken Soup for the Soul), Board Member at Bowling for Brains Non-Profit 501(c)3 (Event to benefit the American Brain Tumor Association), licensed Realtor with Bridge Realty, Seen on DIY TV, Create Channel and PBS. For help buying and/or selling a house, please call (952) 270-6141 or Click here.