Think of it as an adjustment…not a collapse
Not everyone within the single-family housing market believes the sky is falling. A few have taken a rather bullish view of the market. According to economists at the NAHB Construction Forecast Conference, the market will glide toward a “soft landing”. Michael Moran, chief economist at Daiwa Securities America Inc., shares that sentiment saying, “The housing sector is going through an adjustment, not a collapse.”
Mark Zandi, chief economist for Moody’s Economy.com, believes that “nationally, house prices and supply will go flat in 2006, 2007 and 2008.” He further expects prices to decline in several key markets’ however, the market will “correct, not crash.”
Markets where significant corrections are anticipated — defined as more than a 10% peak-to-trough decline — are in the Northeast, the Mid-Atlantic, Florida, California, parts of Arizona and Las Vegas.
For more information, contact MillionSaverHomes.com a local Las Vegas real estate broker at 702.212.3513
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