Housing Construction Market Poised for Boom

(EstateNewsWire.com, April 13, 2013 ) Widensolen, France -- The market for construction work is now poised for a strong growth period and may become a leader in job creation, according to Sheryl Palmer's predictions.

Palmer is the CEO of homebuilders Taylor Morrison, a company that had the initial public offering Wednesday at the New York Stock Exchange.

"We are in such a good place. Everybody talks about being in early innings [of a recovery]. You look at the fundamentals around us, you look at the affordability, you look at the availability of inventory and the confidence people have—I think we have some good times ahead," Palmer told "Squawk on the Street"

"This is the industry that will feed job growth going forward," she said. "I think every day we are doing good things for the economy."

There were many markets that could not perform at full capacity during a recession. Markets such as Phoenix, sections of Texas, and Florida all suffered but now are feeling a boom. Northern California especially is “on fire” according to Palmer.

"The mortgage market is in a pretty good place—a long way to go before we have to be concerned," Palmer said, adding that affordability will help support it even in an environment of rising interest rates. "The land market is very difficult, it's very tight," she said. "Our core mantra is to make sure that we stay in those prime, core locations. So when you look at the land availability in those core markets, the supply is very constrained, but that's good for us."

The proceeds stemming from the IPO will be utilized as “growth capital,” Palmer stated, allowing Taylor Morrison to be highly selective in the real estate purchases.

The Private equity firms TPG and Oaktree are two major shareholders that brought Taylor Morrison public, and each sold some shares into the IPO; however, Palmer stated that each maintain nearly 39% of the company.

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