Existing-home sales to fall 8.1% in 2007: Fannie Mae - 2007-01-17
Sales of new and existing homes will continue their descent this year, due mainly to investors pulling out of the housing market, mortgage-finance company Fannie Mae declared Wednesday. In an economic and housing outlook, Fannie Mae said sales of new homes are expected to go down by 7.1% in 2007, while sales of existing homes are expected to decrease by 8.1% this year. Fannie economists said that projected sales for 2007 would be the lowest since 2002.
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Homebuilder Confidence in U.S. Rises to 6-Month High - 2007-01-17
Confidence among U.S. homebuilders climbed to a six-month high in January on evidence that the worst of the slump in home sales may be over. The National Association of Home Builders/Wells Fargo index of sentiment nudged up to 35 this month from a revised 33 in December, the Washington-based association declared today. A reading below 50 means most respondents view conditions as not being good.
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