Business Insider reports that UBS’s Maury Harris expects a spring rebound in housing starts, raising his Q2 forecast to a 1.15 million annual pace.
Read the article by Mamta Badkar, UBS: Housing Is Set For A Sharp Spring Rebound.
“Our updated 900,000 single-family starts forecast for 2015 is only around 52% of its previous cyclical peak 10 years earlier, and our overall 1.35 million unit housing starts forecast for 2015 is still just 65% of its previous peak a decade ago,” Harris said.
That being said, the mix of housing starts is shifting toward more multifamily starts than single-family starts. Harris now sees single-family starts of 725,000 units in 2014, down from an earlier forecast of 825,000. He also expected 425,000 multi-family starts, up from the earlier estimate of 325,000 units.