Housing Chartbook: June 2009

Housing Is Nearing a Bottom but Not a Recovery The U.S. economy appears set to begin a recovery before the housing market does. Our latest forecast has real GDP moving back into positive territory during the third quarter, and we now expect the recession to end at some point this summer. Home sales and new home construction should bottom out at around the same time as the overall economy. A recovery in home sales and new home construction still appears to be a long way off, however, as the