Housing economists: sales are on the rise
The housing recovery should gain momentum in 2010, but the improvement will still be slow, according to a panel of economists speaking at the International Builders Show in Las Vegas. “It won’t be a strong recovery, but it will be a recovery,” said David Crowe, chief economist for the National Association of Home Builders. Crowe forecast that sales of new homes will rise by about 33 percent while resales will go up 7 percent. He expects prices to remain stable in most areas, but some cities may see some slight declines. “I believe we’ve seen the worst of the house price declines … The stage is set for the consumer to return,” Crowe said.
Source: Associated Press, Alex Veiga (01/19/2010)