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Economists: Housing Bottom Not There Yet

ORLANDO-Sales of new housing in the multifamily and single-family sectors, will be dropping further this year, three out of four nationally known economists told attendees at the International Builders Show.

By Alex Finkelstein | Updated on February 09, 2007

(To read more on the multifamily market, click here.)

ORLANDO-Striving hard to remain positive, David Seiders, chief, economist, National Association of Home Builders, predicts sales of new housing in the multifamily and single-family sectors are on their way up after hitting bottom at the end of 2006.

“Housing starts in 2007 will continue down for the first half of the year and then turn up for the last half,” Seiders predicted Friday at the four-day International Builders Show. The Orange County Convention Center event, the largest in its 24-year history, has drawn 105,000 industry professionals from 90 countries to the non-public attraction which has focused on the growth of green building concepts.

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