The housing recovery should gain moment in
2010, but the improvement will still be slow, according to a panel of
economists speaking at the International Builders Show in Las Vegas.
"It won't be a strong recovery, but it will
be a recovery," said David Crowe, chief economist for the National
Association of Home Builders.
Crowe forecast that sales of new homes will
rise by about 33 percent while resales will go up 7 percent. He expects
prices to remain stable in most areas, but some cities may see some
slight declines. Will Nesbitt, principal broker of Condo-Alexandria.com said, "We're not seeing the big price drops we saw last year."
"I believe we've seen the worst of the house price declines ... The stage is set for the consumer to return," Crowe said.
Source: Associated Press, Alex Veiga (01/19/2010)