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When will the U.S. housing market stabilize?

Author

Listed:
  • John V. Duca
  • David Luttrell
  • Anthony Murphy

Abstract

The hope that housing markets had stabilized in mid-2010 was dashed by subsequent declines in home construction and prices (Charts 1 and 2). Homebuilding peaked about five years ago, and housing prices almost four years ago. Amid such a prolonged downturn, a key question becomes, When will the housing market stabilize and support the economic recovery? We suggest that new home construction may stabilize and start recovering slowly within the next year or so. Our econometric results also indicate that national house prices may hit bottom late this year or in early 2012 and then recover slowly.

Suggested Citation

  • John V. Duca & David Luttrell & Anthony Murphy, 2011. "When will the U.S. housing market stabilize?," Economic Letter, Federal Reserve Bank of Dallas, vol. 6(august).
    • Handle: RePEc:fip:feddel:y:2011:i:august:n:v.6no.8
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    Cited by:

    1. John V. Duca, 2013. "Regionally, Housing Rebound Depends on Jobs, Local Supply Tightness," Annual Report, Federal Reserve Bank of Dallas.
    2. John V. Duca, 2013. "What's Next? Factors Determining the Housing Recovery's Pace," Annual Report, Federal Reserve Bank of Dallas.
    3. Mahua Barari & Nityananda Sarkar & Srikanta Kundu & Kushal Banik Chowdhury, 2014. "Forecasting House Prices in the United States with Multiple Structural Breaks," International Econometric Review (IER), Econometric Research Association, vol. 6(1), pages 1-23, April.

    More about this item

    Keywords

    Housing - Prices; Mortgage loans;

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