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February 9, 2012

Builders group: 2012 is ‘ramp' to recovery

  • One housing economist expects single-family home sales to rise by a whopping 40 percent to 505,000 in 2013.
    • By ALEX VEIGA
    AP Real Estate Writer

    LOS ANGELES — The U.S. housing market will begin to mount a turnaround this year, building toward a solid recovery in 2013, according to a forecast issued Wednesday by the chief economist of a homebuilding industry trade group.

    The outlook by National Association of Home Builders Chief Economist David Crowe calls for U.S. sales of new homes and single-family home construction to improve this year compared to 2011, when they hit record lows.


     
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