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| Builders Predict Slowdown |
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(July 13, 2006) -- The housing market will continue to cool with slower price increases and fewer housing starts, according to a report by the National Association of Home Builders.
"Higher house prices together with higher interest rates have dampened housing demand throughout most of the country, bringing demand more in line with supply," the report states.
The report also examines the housing market state by state. While housing starts are expected to fall nationally after hitting their highest level in more than 30 years in 2005, states such as Idaho, North Carolina, Oklahoma, Washington, and Wyoming are expected to see home construction increase this year.
The average price of a home increased 13.2 percent last year and 10.8 percent in 2004, driven by prices on both coasts, according to the Office of Federal Housing Enterprise Oversight.
Source: The Wall Street Journal , John Spence (07/13/06)
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