2007 to Be Year of Transition for Most State Housing Markets

WASHINGTON -- While most housing markets throughout the country experienced a year of decline in 2006 following the boom levels of the previous two years, 2007 is expected to be a year of transition, with growth emerging in many areas, according to the National Association of Home Builders' (NAHB) Regional Housing Starts Forecast.  The forecast, available through NAHB's HousingEconomics.com, reports on regional and state-by-state housing forecasts and analyzes the health of local housing markets.

“Because the boom and correction cycle has largely been driven by national, rather than local factors, most regions have experienced some degree of over-heating and correction,” said NAHB Chief Economist David Seiders. “We expect 2007 to be a time of transition in most regions, with housing starts bottoming out in the early part of the year before transitioning to gradual recovery paths.”

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