November 2009 US Housing Forecast
In particular, the MBA forecast predicts that the quarterly growth rate of sales of existing homes in the US will decelerate from 11.4% in the third quarter of 2009 down to only 2.6% in the fourth quarter. On the contrary the quarterly growth rate of sales of new homes is predicted to accelerate from 10.5% in the third quarter to 11.7% in the fourth quarter. Note though that for the whole 2009, sales of existing homes are predicted to be up by 1.8% compared to 2008, while sales of new homes are expected to be down by 17.9% compared to 2008. In terms of prices, the November 2009 US housing forecast issued by MBA, predicts that the year-over-year rate of decline of the median price for existing homes will decelerate from -11.8% in the third quarter of 2009 to -8% in the fourth quarter. Similarly, the yearly rate of decline of the median price for new homes is predicted to decelerate from -9.2% in the third quarter of 2009 to -5.5% in the fourth quarter. Overall, for the whole 2009 median prices for existing homes and new homes are predicted to be down by 13.1% and 9%, compared to their 2008 levels. The November 2009 US housing forecast predicts that median prices for both existing homes and new homes will stay well below their 2008 levels at least by 2011, as they are expected to registered only small increases during these two years. In particular, the median price for existing homes is predicted to increase by 1% in 2010 and 3% in 2011, while the median price for new homes is predicted to increase by 0.9% in 2010 and 2% in 2011. If you have an interesting comment in relation to this article please use the form below Related Posts to submit it. Please read submission guidelines before writing and submitting your comment.
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