Interest in Housing to Stay

February 2005
Home Textiles Today;2/14/2005, Vol. 26 Issue 23, p16
Trade Publication
The article reports that gradually rising interest rates are expected to have a moderate cooling effect on home sales going forward, but not enough to trigger a bursting housing bubble or depress housing prices. The Mortgage Bankers Association (MBA) reported in its long-term economic forecast covering 2005-2007 that existing-home sales are forecast to fall 7.2 percent in 2005, another 7 percent in 2006, and a further 1 percent in 2007. New home sales are forecast to fall 6.1 percent this year, 10 percent in 2006, and another 3 percent in 2007. Home prices are expected to grow less rapidly going forward, with existing-home prices moving up 4.7 percent this year, and the price of a new home increasing 3.7 percent, the MBA forecast.


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