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2012 forecast: mostly sunny
The blog Calculated Risk compiled a few 2012 forecasts from major players in the housing industry.
housing forecast, housing market, 2012
The blog Calculated Risk compiled a few 2012 forecasts from major players in the housing industry:
From Wells Fargo:
"Even with continued worries about competition from foreclosure sales, we expect single-family construction to rise 7 percent in 2012. Sales of new homes should rise nearly 15 percent. Strong demand for apartments should help boost multi-family starts by at least 25 percent in 2012. Overall starts should rise to 690,000 units, which would be the best year since 2008."
From Goldman Sachs:
"We believe that housing starts have probably bottomed already, while nominal house prices are likely to bottom in the course of 2012."
And Doug Duncan at Fannie Mae is forecasting new home sales of 322,000 in 2012.
A 15 per cent increase for new home sales would be to about 350,000, Calculated Risk said.
To read more, click here.