Industry NewsMarkets & Economy

Steady growth foreseen, but no ‘housing revival’

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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."The factors leading into 2011 made a soft spot that will be made up," said Crowe. "We had a robust early 2010, with the (homebuying) tax credit and consumer confidence building. Then everything went flat, not just housing," at midyear."It had to do with consumers freezing in place" over concerns related to health care legislation, financial ...