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When will the U.S. housing market stabilize?

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  • John V. Duca
  • David Luttrell
  • Anthony Murphy

Abstract

The hope that housing markets had stabilized in mid-2010 was dashed by subsequent declines in home construction and prices (Charts 1 and 2). Homebuilding peaked about five years ago, and housing prices almost four years ago. Amid such a prolonged downturn, a key question becomes, When will the housing market stabilize and support the economic recovery? We suggest that new home construction may stabilize and start recovering slowly within the next year or so. Our econometric results also indicate that national house prices may hit bottom late this year or in early 2012 and then recover slowly.

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File URL: http://www.dallasfed.org/assets/documents/research/eclett/2011/el1108.pdf
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Bibliographic Info

Article provided by Federal Reserve Bank of Dallas in its journal Economic Letter.

Volume (Year): 6 (2011)
Issue (Month): august ()
Pages:

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Handle: RePEc:fip:feddel:y:2011:i:august:n:v.6no.8

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Keywords: Housing - Prices ; Mortgage loans;

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Cited by:
  1. Mahua Barari & Nityananda Sarkar & Srikanta Kundu & Kushal Banik Chowdhury, 2014. "Forecasting House Prices in the United States with Multiple Structural Breaks," International Econometric Review (IER), Econometric Research Association, vol. 6(1), pages 1-23, April.

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