“It’s coming back,”

Warren Buffett, the billionaire chairman and chief executive officer of Berkshire Hathaway Inc. (A:US), said the U.S. housing market has made progress and still has a way to go in recovering.

“It’s coming back,” Buffett, 83, said yesterday during an event at the New York Public Library. “Pricing (SPCS20Y%) is better in almost all markets by a reasonable percentage from a few years ago. Housing starts are up somewhat. They still are not where I would regard as an equilibrium point, where they match household formation.”

A rebounding housing market has helped Omaha, Nebraska-based Berkshire’s subsidiaries that make carpet, bricks, insulation and houses. Some of those businesses have expanded in recent years through acquisitions as the industry recovers from the worst slump in seven decades.

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