Colton Properties is a fully integrated land development and brokerage company with primary operations in Portland, Oregon.
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Forecasters expect Portland-area homebuilding to continue to
bounce back in 2015, though perhaps still not enough to keep up with population growth. Speaking at an annual Home Builders Association of Metropolitan Portland event, economists said they expect building activity to continue creeping higher.
Across the country, including Oregon, homebuilding tanked in the wake of the housing bubble. Using the period from 2000 to 2003 as a benchmark — because the years that followed were so far out of whack — the National Association of Home Builders says construction of single-family houses in the U.S. fell to 27 percent of normal by 2009.
Home builders gained more confidence in the housing market in August, the third consecutive month of gains in an index measuring current sales and expectations for the future. The National Association of Home Builders/Wells Fargo Housing Market Index rose 2 points to 55, its highest level since January. Any number over 50 indicates most builders view conditions as good. The Northeast was the only region where the number was below 50.
Give the improved jobs market some credit for the gains.
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