Why UBS predicts a spring fling for the housing market

Why UBS predicts a spring fling for the housing market

As the weather warms up, UBS thinks the housing market will follow.

"Looking ahead, we expect a sharp spring rebound in quarterly average U.S. housing starts following the exceptionally frigid winter," UBS chief U.S. economist Maury Harris wrote in a recent note.

UBS had projected that annualized housing starts would come in at an annualized pace of 1.06 million in the first quarter, and would tally up to 1.15 million over the course of 2014. The actual first-quarter result was well below that. But Harris has not reduced his full-year estimate. Instead, he now expects to see a strong spring snapback as the housing market plays catch-up.

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Focus on...Caterpillar's First Quarter

Attracting almost 130,000 visitors, CONEXPO-CON/AGG 2014 surpassed its previous edition with the second-highest attendance in the show's history.

Records were also set for the number of firms exhibiting approximately 2,400 and the expanse of exhibition space.

Not only did the Las Vegas show offer a platform for original equipment manufacturers (OEMs) to showcase their latest models, but it also provided an opportunity for networking on a global scale.

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