New Home Sales: More Signs of Stability

Action Economics expects the January housing figures to show a much smaller decline, consistent with continued steadiness

Is the worst over for the housing market? Many observers—including Federal Reserve Chairman Ben Bernanke in his recent testimony before Congress—have noted indications that the sector is stabilizing after a pronounced slump. We at Action Economics have also seen some encouraging signs (see BusinessWeek.com, 2/23/07, "Housing Remains Steady Amid the Gloom").

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