New-Home Recovery Seen as Post-Super Bowl Selling Season Starts

New-home sales may bounce back this spring, and the rebound could last through at least 2012, predict market watchers. The Mortgage Bankers Association forecasts a 10 percent jump in volume. Meanwhile, Fannie Mae and the National Association of Home Builders project gains of 18 percent and 20 percent, respectively. The groups are optimistic despite tighter underwriting, the absence of a home buyer tax credit, and stiff competition from bargain-priced foreclosure properties. | Read More