There’s life in the patient after all. Recent surveys of the home builder confidence index continue to paint a rosy portrait for a housing market rebound. This comes as good news to many – especially when considering the gloomy state of the market and its affect on construction since the 2008 market collapse. Home value appreciation is the highest it has been since 2005 according to Zillow’s second quarter Real Estate Market Reports.
New Light on the Horizon
Potential buyers have cautiously dipped their toes back into the house buying pool as thinning inventories of available homes and affordable mortgage rates create a sense of urgency among buyers. Could this be the lightning bolt to the chest that revives the “zombie” economy? One thing is certain, American construction contractors are foaming at the mouth to get back into the building business.
The recovery might not usher in a comeback of the “golden era” of home building found during the easy credit years of the Reagan and Clinton administrations, but could bode well for construction equipment rental according to ConstructionEquipment.com. Residential construction is set to fuel industrial equipment rentals in 2013, with an anticipated $33.6 billion for heavy equipment rentals.
Impact New Construction Has On Rental Industry
Construction growth has been hampered with the rising costs of building materials, skilled labor, and equipment. Construction equipment rentals are sure to be a silver lining for contractors who are currently struggling with these economic challenges. As housing continues to grow, construction rental will be crucial to budget costs. Even though the market is in the recovery stages, economists are predicting the trends to increase as the industry strives to match buyer traffic.
Regardless of the direction the economy takes in the future, Rent It Today will be able to connect contractors with heavy equipment rental providers including Blueline Rental , Mckeel Equipment, Crane Service, Inc., Sagon Trucks, and many more throughout the country. With creditors still tight on what they’re willing to lend builders, renting is the way to go for managing costs.