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Housing market ready to rebound

The new housing market is down, but should begin rebounding in the first half of 2007 after a relatively soft landing.

That's the word from housing think tank Metrostudy in a report released last week.

"The entire housing market - resale and new - is evolving as it attempts to establish a balance between supply and demand and a more sustainable rate of absorption," Steve Johnson, director of the Houston-based company's Southern California division, said in a release. "Increasingly, reports of resale price adjustments are becoming the norm, although they remain localized and may not indicate a regional trend."

Builders are cutting back in pulling permits in both San Diego and the Inland ...

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