Housing Economists: Sales Are on the Rise
The housing recovery should gain moment 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)
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