June 13, 2006
Joint Center for Housing Studies, Harvard University
Despite another record-setting performance, housing markets showed clear signs of cooling late in 2005. As mortgage interest rates moved up and house prices soared, home sales turned down and investor demand started to wane at the end of the year. Even so, house prices continued to climb, home improvement spending remained healthy, and rental markets were on the mend. The report analyzes a variety of housing topics, including demographic trends affecting housing demand; house prices, homeownership, and home mortgage lending; national and regional trends in housing production; and low-income housing needs.
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