Saturday, October 22, 2005

NAHB issues their predictions for the real estate market

The National Association of Home Builders (NAHB) has thrown their hat into the ring of prognosticators ... and their outlook is not as bright as we've heard from the realtor organizations (see our October 18 Blog entry below).

NAHB Chief Economist David Seiders feels that the rise in interest rates that has already started, and is expected to continue, will pretty much put a damper on the hot real estate market.

Concerning itself with new construction, the "NAHB is forecasting a decline in total housing starts from 2.032 million this year to 1.94 million in 2006 and a further drop to 1.883 million in 2007."

To read more: NAHB housing market prediction

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