Across the nation, the mood is optimistic. The economy is coming out of its slumber and all industries are picking up, particularly in being ready for the Holiday Season.

More exciting is news that the construction industry is set to increase over the next year to 18 months or so.

In fact, Realty Times reports that nationally in the case of McGraw-Hill’s Construction Outlook report which predicts in their 2010 forecasts an increase in the level of construction starts in 2010 is expected to climb 11% to $466.2 billion. This is great news, for all contractors big and small.

They predict that in Single family housing, for 2010 will advance 32% in dollars, corresponding to a 30% increase in the number of units to 560,000. Multifamily housing will improve 16% in dollars and 14% in units.

While on the subject of new construction, there is an interesting development which Realty Times have also reported on. The prospect of single family homes having fire sprinkler systems.

Members of the International Code Council’s Residential Building Code Committee (RBCC) have made it clear that fire sprinklers are destined to become a standard feature in all new homes. This interesting development states that the fire sprinkler requirement was added to the International Residential Code (IRC) last year, and it is scheduled to become effective January 1, 2011. With 48 states adhering to the IRC, it will be interesting to watch how this is implemented, particularly as there are two strong sides to the argument. Those for the regulation tout safety, those against tout implementation of the regulation and the system as potential hazards.

We will watch this develop closely.

However with an oncoming increase in construction and a real estate market that is looking healthier and healthier every day, now is the time to buy!

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