Worldwide construction of new housing units is forecast to reach 61.3 million units in 2018, according to a new report by market research company The Freedonia Group, which said annual growth in the residential construction sector would average 2.9% over the forecast period. According to its World Housing study, although global population growth is expected to decelerate over the forecast period, declines in average household size are said to support 1.6% annual growth in the number of households, which would in turn boost demand for new housing.
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