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McAllen Real Estate -
Residential
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 On Tuesday, the first day of trading in 2012, the Commerce Department stated that spending on construction rose 1.2 % in November. During November, construction spending rose as builders spent more on single-family homes, apartments, and remodeling projects. Although, it is thought to take at least 4 years until we can get back into a "healthy" state, home construction has been on a "gradual rebound". The need for rental homes has doubled the speed of apartment construction, and is thought to account for a large portion of the nation's economic growth in 2011. Martin Crustinger with the Associated Press states, "Single-family construction rose 1.5 percent while multi-family construction including apartments rose 1.3 percent. The category that covers home remodeling rose 9.5 percent." There was 9.3 % jump from October to November for Builders breaking ground on new homes. Builders are anticipating to break ground on at least 600,000 homes this year. (Rising from 587,000 last year and 554,000 in 2009). Although we still have some work to do, there does seem to be some light at the end of the Real Estate tunnel.
Blog inspired by article, "November construction spending rose 1.2 percent" written by Martin Crutsinger and featured in the Atlanta Journal Constitution.
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