REALTOR® Magazine provided some early release information from Bloomberg News today. According to their report, economists predict:
- Construction starts in September are expected to hit a 610,000 annual rate, the most since last November.
- Sales of existing homes likely rose to a two-year high.
- Because of fear of a relapse, the Federal Reserve is predicted to leave interest rates low for a few more months.
- 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.
- The National Association of Home Builders/Wells Fargo index is expected to rise to 20 from 19, the economists say.
If this is all acurate, the nearterm outlook for real esate and housing is looking better.
