Many economists are expecting a brighter year for housing, citing positive economic data in recent months. The U.S. housing market is beginning to mount a turnaround this year, building toward a solid recovery in 2013, says chief economist of the National Association of Home Builders. Chief Economist David Crowe calls for U.S. sales of new homes and single-family home construction to improve this year compared to 2011. “I’m looking at 2012 as sort of a ramping event to get a much more solid recovery in 2013,” Crowe said. The economist sees sales of new, single-family homes climbing 19 percent this year to 360,000, up from 303,000 last year. Next year, he expects those sales to rise by a whopping 40 percent to 505,000. [Read Article]
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