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NATIONAL ASSOCIATION OF REALTORS CHIEF ECONOMIST COMMENTS ON HOUSING STARTS DATA

 NATIONAL ASSOCIATION OF REALTORS CHIEF ECONOMIST COMMENTS
 ON HOUSING STARTS DATA
 WASHINGTON, Jan. 22 /PRNewswire/ -- Following is an analysis by Dr. John A. Tuccillo, chief economist of the National Association of Realtors, of the housing starts data released today from the U.S. Department of Commerce:
 Last month's rise in housing starts shows that low interest rates clearly are stimulating demand, enabling home construction in 1991 to end on a high note.
 The year as a whole was a weak one for the building industry, because the economy was in such terrible shape. However, the increase in housing permits for December suggests that low rates have started working their way through the economy. Construction should increase as the economy improves.
 Currently, we are expecting housing starts to total 1.207 million units this year, which would represent an increase of 19 percent from 1991.
 NAR, "The Voice for Real Estate," is the nation's largest trade association, representing more than 750,000 members involved in all aspects of the real estate industry
 -0- 1/22/92
 /CONTACT: Trisha Morris, 202-383-7560, or Liz Duncan, 202-383-1043, both of the National Association of Realtors/ CO: National Association of Realtors ST: District of Columbia IN: SU: ECO


DS -- DC007 -- 2136 01/22/92 09:53 EST
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Publication:PR Newswire
Date:Jan 22, 1992
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