Home Builders are Predicting a Sales Comeback

New-home sales may bounce back this spring, and the rebound could last through at least 2012, predict market watchers.

The Mortgage Bankers Association forecasts a 10 percent jump in volume; while Fannie Mae and the National Association of Home Builders project gains of 18 percent and 20 percent, respectively.

The groups are optimistic despite tighter underwriting, the absence of a home buyer tax credit and stiff competition from bargain-priced foreclosure properties.

Source: “New-Home Recovery Seen as Post-Super Bowl Selling Season Starts”
Business Week (02/11)

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