MBA US Housing Forecast Predicts Market Will Improve
The December 2009 MBA US housing forecast predicts increasing sales and moderately rising home prices in 2010 and 2011.
In particular, it is predicted that total home sales (including both new and existing homes) will increase by 11% in 2010 and 8% in 2011. Sales of new homes though are predicted to rise considerably faster and particularly by 23.5% in 2010 and 26.1% in 2011.
The December 2009 MBA housing forecast predicts also that median prices for all homes (new and existing) will reverse the severe declines of 2009, which are estimated by MBA to average 13.3%, and register modest gains of 1.1% in 2010 and 3.0% in 2011.
The MBA housing forecast predicts that median prices of new homes will register lower gains and particularly 0.9% in 2010 and 2.0% in 2011.
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