WASHINGTON -- The National Association of Home Builders is forecasting a steady pickup in housing activity over the next two years.
For the second quarter of 1992, the homebuilders are predicting that total housing starts will fall to a 1.25 million-unit level from the first quarter's 1.28 million level, but then steadily increase during the second half of 1992 and throughout 1993.
"The home-building industry is now poised to stage a sustained and significant recovery," the group said in its economic and housing forecast.
Total housing starts are expected to rise to a 1.29 million-unit annual rate in the third quarter, to 1.31 million in the fourth quarter and to 1.47 million in the fourth quarter of 1993.
The group predicted existing house sales will rise to a 3.53 million-unit annual rate in the second quarter of this year, to 3.56 million in the third quarter and to 3.64 million in the fourth quarter.
With respect to gross domestic product growth, the group predicted that growth will beat a 2.2 percent rate this quarter, a 2.6 percent rate in the third quarter and a 2.8 percent rate in the last quarter of 1992.