Star Tribune Tue, 08 Jan 2008 18:49:20 GMT
Realtors group maintains upbeat housing forecast as November index of pending sales slips
...Joshua Shapiro, chief U.S. economist at economic consulting firm MFR Inc., said home sales will likely be flat over the next few months and when sales and prices do move, the direction likely will be down. "We don't think we're at the bottom yet," he said. Home sales will likely sink to an annual rate of below 5 million through 2008t, compared with the Realtors prediction of an annual rate of more than 5.8 million in the third and fourth quarters, Shapiro said, noting that the real estate trade group "is paid to be optimistic."
[[keywords: Housing;Metro;]]
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