Housing market shows clear signs of slowing
“Evidence is mounting that the red-hot housing market reached a peak last summer, with sales and construction activity beginning to slow even more than would normally be expected this time of year.
But so far industry analysts expect only a modest decline in activity in 2006 and say prices should continue to rise in most markets, although not at the double-digit rates of recent years.
“The boom is obviously winding down,” said David Lereah, chief economist for the National Association of Realtors. “But it’s important to note that it’s winding down to still-healthy levels of activity. … We’re not seeing anything fall out of bed.”
