Economists speaking at the National Association of Home Builders' Construction Forecast Conference say the worst may have passed for the nation's housing industry, with a pivotal second half of the year approaching. rn"There's a lot of skepticism out there. This is a very deep hole we're in," said David Crowe, NAHB chief economist. But, "the housing recession is nearing an end and housing will return on a very slow basis," he said. rnIn 2009, single-family home sales are projected to reach 364,000, 24 percent behind 2008, and then are expected to increase 48 percent in 2010. A pickup in single-family housing starts may not be far behind that upturn, with an estimated 45 percent increase 2010. Multi-family starts are not expected to recover until 2010. Crowe said low mortgage rates, decreasing sales prices and tax credits are aiding in the recovery.
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