The year 2016 bodes well for the U.S. housing market, in spite of a stressful decline among home-building stocks and weaker housing indicators in January, according to housing experts. CNBC contributor Tim Mullaney talks to several observers in the industry and finds out why they are betting on a successful real estate market in 2016. Mullaney writes,
After all, the average price of a new home is up 2.9 percent in the last year, according to the Census Bureau. Most major builders beat forecasts for fourth-quarter earnings, and new single-family home sales rose 14 percent in 2015, with forecasts calling for a 20 percent gain this year, according to National Association of Home Builders economist Robert Dietz.
"That would make 2016 the first year (since the recession) where the growth in single-family exceeds the growth in apartments," Dietz said.