WASHINGTON, DC — The mood was upbeat at the National Association of Home Builder’s (NAHB’s) 62nd Semiannual Construction Forecast Conference here. Although the U.S. economy has slowed, housing still shows surprising strength.
Presenting his economic and housing outlook, David Seiders, senior staff vice president and chief economist of the NAHB, noted that this year the Federal Reserve has already made several reductions in interest rates to try to spur the economy. However, he said, “The housing sector has been one of the bright spots in our weakening economy.”