Industry News

Home builders predict housing slowdown

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The National Association of Home Builders is predicting rising interest rates to spur a drop in home-price appreciation and housing starts to more sustainable levels, the trade group said in a report. While the housing market is experiencing a gradual cooling process at the national level, some states continue to show growth, according to the report, which provides a regional look at the economy and housing sector and state-by-state forecasts. "We are coming off a very strong couple of years for the housing industry and markets are now starting to cool to more sustainable levels," said David Seiders, chief economist of NAHB. "Each market has different factors that affect its local economy and housing market, but overall we are forecasting an orderly slowdown in housing starts." The report examines the performance of the local economy of each state, measured partly by employment figures. The Bureau of Labor Statistics reports strong job gains in many of the fastest-growing s...