by Calculated Risk on 1/01/2007 03:55:00 PM

From the Orange County Register Jon Lanser's, Eyeballs on Housing series, on the 2007 housing market:

"Nationally, I expect low levels of sales of both existing and new homes, aggressive pricing of new homes (e.g., a 10 percent decline in price), but very little erosion (2-5 percent) of sales prices of existing homes."
Professor Ed Leamer, Director UCLA Anderson Forecast

"Both sales and prices will be up from 2006. Sales should rise to our 10-year average of 40,100, which puts sales up 10 percent, and prices should rise 7 percent for homes and the 4 percent-5 percent range for condos."
Gary Watts, broker/economist on Orange County housing.