No Real Growth in Sight for Housing Market Until 2009, According to NAHB Forecast

摘要

You will be able to hear a nail drop in new housing developments in the United States for at least another year as the homebuilding industry absorbs an enormous surplus of unsold homes, according to several economists at the National Association of Home Builders (NAHB) 2007 Fall Construction Conference. The record inventory of 1 million single-family homes for sale is left over from the unsustainable binge of new home construction from 2004 to 2006, when builders cranked out new homes at a record pace and mortgage companies lured new homebuyers to the market with questionable loans. David Seiders, NAHB's chief economist and senior staff vice president, expects the housing market to "hit some bottoms" in 2008. He says home sales should start to recover in the first quarter of 2008 and that sales of single-family homes may bottom out and start climbing again by the third-quarter 2008.