Tuesday, November 09, 2004

Housing starts predicted to decline in 2005

The National Association of Home Builders (NAHB) is predicting that housing starts will decline in 2005. While this Association feels that the housing market will remain strong, their prediction of NAHB Chief Economist David Seidersis is "With activity “flattening in 2005,” Seiders is forecasting a decline in housing starts next year of about 4.2% to 1.85 million units, down from the 1.935 million starts projected for this year. Sales of new single-family homes are forecast to drop 5.2% from a record of more than 1.16 million this year to about 1.1 million."

Remember, we are talking about NEW homes, not resale homes.

To read the entire press release, go here.

No comments: