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Freddie Mac sees home sales down 6% to 8% in 2006

Freddie Mac sees home sales down 6% to 8% in 2006
Thursday, January 5, 2006 8:43:12 PM
http://www.afxpress.com

WASHINGTON (AFX) -- U.S. home sales should decline by between 6% to 8% this year, Freddie Mac's chief economist said Thursday. But Frank Nothaft and other economists said housing will continue to be a strong engine for the U.S. economy in 2006. The National Association of Realtors predicted new home sales would drop by 5% to 6% in 2006, and that existing home sales would fall by 4% to 5%. "The boom is obviously winding down," said NAR economist David Lereah. But "the fundamentals are still good in housing," he said. Lereah and Nothaft spoke during a conference call with reporters

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