Economists: Home-price growth to taper off - 2004-01-14
U.S. home-price growth this year will taper off to about half of what it was in 2003 as mortgage rates climb from a 45-year low, according to housing economists.
Prices probably will grow 4 to 5 percent, according to five chief economists who made presentations on a conference call sponsored by the Washington-based Homeownership Alliance. David Lereah, chief economist of the National Association of Realtors, estimated that prices rose 8 percent last year.
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