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Article: Market should be stable in 1996, economists tell real estate agents.(National Association of Realtors Conference)(Brief Article)
- Article from:
- American Banker
- Article date:
- November 14, 1995
- Author:
CopyrightCOPYRIGHT 1995 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Economists at the National Association of Realtors conference are looking forward to a stable year for the residential housing market.
In a presentation titled "1996: Perhaps a Boring Year," John Mitchell, senior vice president and economist at U.S. Bancorp, compared the current economic climate to that of the middle to late 1960s, when growth was steady but slow. He predicts an additional decline in interest rates, perhaps down another 50 basis points by spring, depending on the upcoming budget reconciliation.
For most of the 20,000 real estate agents in attendance here, 1995 has already been a good year. Home sales, at about 3.8 million, slightly outpaced ...