Although the nation’s economy moved a bit unexpectedly onto shakier ground this summer, housing is likely to continue its slow trudge back to normal, with further improvement next year and more significant gains in 2013, according to economists participating in an Oct. 26 NAHB construction forecast webinar on the housing and economic outlook

Speakers said that a housing recovery has already begun to materialize in many local markets across the country, which will provide some momentum for the overall housing recovery next year. States damaged the most by the housing boom and bust will have the longest wait, but even these places are showing progress in making a comeback.

The European debt crisis and fumbling on the budget process by recalcitrant lawmakers in Washington have created difficult uncertainties for the economy and have significantly raised the odds of the U.S. lapsing into a new recession, the economists acknowledged, but their consensus was that growth would continue, although at a pace unlikely to generate much job growth for a considerable period of time. Read More

In a market dominated by single-family homes and larger condominiums, the 191-unit Ascent at Warner Center — with its sleek urban architecture on a tight infill site near Los Angeles in California’s San Fernando Valley — radiates hip, resort-style vibes and appeal.

To assure that Ascent would have competitive appeal, Withee Malcolm Architects, LLP of Torrance, Calif., and developer KB Home of Los Angeles modulated the facade to give the community a residential sensibility; provided well-planned interior layouts to maximize the livability of the smaller spaces; and created an outdoor public area for entertaining and mingling. ... Read More

It may not always be apparent in the months ahead, but the downturn in home remodeling most likely is nearing an end as activity in home improvement spending slowly climbs to higher ground next year, according to economists at the recent Remodeling Show in Chicago and McGraw Hill Construction’s Outlook 2012 Executive Conference in Washington, D.C.

The strength of the remodeling upturn will be relatively weak in its early stages, reflecting slow going in the housing industry, which has yet to muster much of a recovery in the midst of disappointing job growth and apprehensive consumers.

Today’s higher prospects for a coming U.S. recession have added to concerns, but if another downturn does actually occur it is expected to be significantly milder than the ferocious slump that preceded it.... Read More