2017- Cashing in on Single Family Housing Boom
2017 is expected to be a booming year for the construction industry with single family homes leading the way. In this blog, we review the predictions and make a few of our own.
Much of the US Housing market is strong, and in many states such as California, New Mexico, South Carolina, and Idaho, the housing market has fully recovered from the crash.
There are a few states where the housing market is not growing, such as Utah, Kansas, and Iowa, but much of the country either has a healthy new build trend or is growing rapidly. So, can you cash in on these new housing trends? Absolutely. Keep reading to find out more.
The Glut for Contractors
A few years back, California had two major fires that together destroyed thousands of homes and out buildings. In those areas, finding a contractor to help you rebuild is a two-year process. There are simply not enough contractors in these areas to meet the demand. On top of that other industries are requiring help too. California’s wine industry is busy expanding, and that means new wineries need contractors too. Other states have similar needs, and as each state’s housing market continues to boom, the lack of contractors is causing problems.
Why Become a Contractor Now?
Quality forecasts are predicting that 2017 will see growth in the new housing sectors and that residential and single family residents will lead the way.
A recent report in CNBC points to a robust housing market. The prediction for June of 2017 was 1.16 Million new housing starts the reality was much more – 1.215 Million or an 8.3 percent jump over that prediction. That’s actually really good news because March, April, and May were slower than predicted. A big reason that the second quarter growth was just slightly down from the prediction is problems with logistics – Builders could not get everything they needed to start projects. The demand was there, just not the supplies. That little factoid is big. It really paints the picture that the housing market is fully past recovery and headed into steady growth. That’s great news for anyone who wants to become a contractor. The demand for skilled contractors is rising along with the demand for new houses.
The summer months are usually the best time and most active time for home buyers and for construction companies looking to start projects. 1.215 new housing starts is a big deal, and it represents a huge potential for income for those companies. For a year-over-year 2017 is turning into a big deal at 2.1 percent growth.
Politics and Construction
Supply and demand are big issues, and with the current governmental restrictions on Canadian lumber, the price of lumber is rising. That also has a negative impact on the housing market, and still, single family home starts are climbing. What’s going to happen when those politics end and the price of lumber falls? That’s right, the demand for housing is going to grow because more people can then afford to build a new home. That’s big for construction, and it paints doorway to opportunities.
The question for you is what do you need to do at this point to become a contractor and open that doorway to opportunity? Reach out to us for answers to that question. We help people become licensed contractors every single day.
About CSLS:
CSLS is the largest contractor licensing school in California with over 25 locations throughout the state. We have the highest success rate of any school – 99% of our students pass their exam on the first try, and that’s guaranteed or your money back.
Our teaching process prepares you in a step by step manner for everything you need to know to pass the law, business, and trade portion of your exam. Our programs are designed for convenience. We have online programs, home study, crash-course and in-school options, making it easy and affordable for you to become a licensed contractor.
