Another boon for housing is the rise in single family construction. Although levels still remain way below “normal” building conditions, increased construction ties directly back to an increase in available jobs, furthering the cycle for improved housing. According to a recent US News article, the National Association of Home Builders indicates that for every 1,000 single-family homes built, enough economic activity is created to sustain 2,970 jobs for a year, yielding $162 million in wage income and $111 million federal, state and local taxes and fees. NAHB notes that while half of these jobs are in the construction sector, the rest lie in associated business that grow along with housing.
For more information on how the housing market is likely to flourish in 2015, read the US News article, here.