In the Realtor magazine NAR summarized a Bloomberg News survey of 53 economists. There were asked what they thought was going to happen this quarter. The results are that:
1. Construction starts in September are expected to hit a 610,000 annual rate, the most since last November.
2. Sales of existing homes likely rose to a two-year high.
3. Because of fear of a relapse, the Federal Reserve is predicted to leave interest rates low for a few more months.
4. Building permits, a sign of future growth, probably rose to a 590,000 annual pace, also the highest level since November, the Commerce Department is likely to announce.
5. The National Association of Home Builders/Wells Fargo index is expected to rise to 20 from 19, the economists say.
2. Sales of existing homes likely rose to a two-year high.
3. Because of fear of a relapse, the Federal Reserve is predicted to leave interest rates low for a few more months.
4. Building permits, a sign of future growth, probably rose to a 590,000 annual pace, also the highest level since November, the Commerce Department is likely to announce.
5. The National Association of Home Builders/Wells Fargo index is expected to rise to 20 from 19, the economists say.
All of the this points to a rise in building, which is usually done by second time home buyers. So more people will be putting their first home or condo on the market, and moving into a larger house.
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