David Seiders, the home builders chief economist, says "I think the best bet is that 2008 is the year we will be looking at the bottom for various components of the housing market."

"We are in a down time, and many markets that overheated during 2003-2005 such as Las Vegas, Phoenix and Miami are undergoing a natural correction," said Jerry Howard, chief executive of the National Association of Home Builders. The Home Builders Association is saying with some help from Congress and the Federal Reserve the nation's housing market could rebound by mid-2008.

Howard says "All housing is local, and the reason we think that the market will stabilize and come back is because many smaller markets that did not experience overheating are still performing at a relatively healthy level. If you balance those markets against those that are undergoing major corrections, we see a solid recovery down the road."

Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572

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