Reply #61: Freddie Mac sees home sales down 6% to 8% in 2006

[UpInArms]

http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38722.6445078935-856388612&siteID=mktw&scid=0&doctype=806&property=symb&value=&categories=&

WASHINGTON (MarketWatch) -- U.S. home sales should decline by between 6% to 8% this year, Freddie Mac's (FRE) 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.