Healthy housing growth forecast
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Low mortgage interest rates are expected to sustain housing at healthy levels, according to the National Assn. of Realtors.
The Realtors group predicts that existing-home sales will rise 3.2% for the year, to a record of 5.47 million units, followed by 5.28 million sales next year.
New-home sales are projected to rise 2.2%, to a record of 929,000 units this year, with 907,000 sales next year. Housing starts are expected to rise 3.1%, to a total of 1.65 million units this year, with the same level expected next year.
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