Steady growth foreseen, but no 'housing revival'

Homebuilders, Freddie Mac present 2011 economic forecasts

ORLANDO, Fla. — A recovering economy should translate into a spring home-selling season that’s better than last year’s, according to two economic forecasts presented jointly here at the annual meeting of the National Association of Home Builders.

NAHB Chief Economist David Crowe and Freddie Mac economist Frank Nothaft did not, however, project any kind of nationwide housing revival. Instead, they expect a gradual improvement in housing after a slow start for the new year. Their forecasts see home sales and new construction picking up steam by year’s end, by 4 to 10 percent (year-over-year) and 20 percent, respectively.