A full residential forecast for the U.S. will be unveiled at the 2015 International Builders’ Show (IBS), the largest annual light construction show in the world, to be held Jan. 20-22 in Las Vegas, Nev.
The Portland Cement Association (PCA), which conducts market development, engineering, research, education, and public affairs programs, expects stronger construction spending in the housing market for Nevada in 2015, despite lingering foreclosures that need to be removed from bank books. With housing permits expected to increase 17 percent in the state, the forecasted increase is driven by expected growth of 12 percent in single family units and 29 percent in multi-family units.
PCA predicts that the low interest rate environment, affordable home prices and easing of lending standards will allow homeowners to once again drive demand for residential construction. Nevada’s housing construction market remains 73 percent off past peak levels and 67 percent below pre-bubble peaks.
Scheduled for Jan. 20 at 8 a.m., PCA Chief Economist and Group Vice President Ed Sullivan will reveal the full residential forecast for the U.S. during IBS.
For more information on PCA programs, visit www.cement.org.