WASHINGTON (MNI) – The following are the National Association of
Realtors October 2012 economic forecasts:

2012 2012 2013 2013 2013 2013
Q3 Q4 Q1 Q2 Q3 Q4 2012 2013
U.S. Economy Forecast Forecast
Annual Growth Rate
Real GDP 1.3 1.7 3.0 3.0 2.9 3.4 2.2 2.5
Nonfarm Payroll Empl 1.5 1.4 1.1 2.0 3.2 1.5 1.5 1.7
Consumer Prices 2.1 1.9 2.0 2.5 2.3 3.0 2.2 2.5
Consumer Confidence 64 67 74 78 85 85 66 81

Percent
Unemployment 8.1 8.2 8.2 8.1 7.8 7.6 8.2 7.9

Interest Rates, Perc
Fed Funds Rate 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
3-Month T-Bill Rate 0.1 0.1 0.1 0.1 0.1 0.2 0.1 0.2
Prime Rate 2.8 3.1 3.2 3.3 3.4 3.4 3.1 3.1
Corporate Aaa Bond Yld 3.9 4.1 4.2 4.1 4.3 4.5 3.9 4.3
10-Year Govt Bond Yld 1.7 1.9 2.0 2.0 2.2 2.4 1.9 2.2
30-Year Govt Bond Yld 2.9 3.1 3.1 3.1 3.4 3.6 3.0 3.3

Mortgage Rates, perc
30-Year Fixed Rate 3.5 3.6 3.7 3.9 4.0 4.1 3.7 3.9
1-Year Adjustable 2.7 2.7 2.7 2.7 2.7 2.8 2.8 2.7

Housing Indicators
Thousands
Existing Home Sales* 4667 4776 4841 4882 5077 5230 4640 5017
New Single-Family Sa 379 417 514 570 610 666 379 594
Housing Starts 781 846 1016 1101 1151 1226 769 1123
Single-Family Units 524 572 695 759 803 870 525 782
Multifamily Units 258 275 321 341 348 356 244 342
Residential Construc 374 386 411 443 466 487 368 452

Percent Change — Yr
Existing Home Sales 9.8 9.3 6.0 7.6 8.8 9.5 8.9 8.1
New Single-Family Sa 27.2 27.6 46.0 57.1 60.9 59.6 25.9 56.8
Housing Starts 27.2 24.7 42.1 49.6 47.3 44.9 25.7 46.0
Single-Family Units 23.4 20.8 42.5 46.6 53.3 52.3 20.9 48.8
Multifamily Units 35.9 33.7 41.3 56.8 35.1 29.8 37.4 39.9
Residential Construc 14.6 14.9 16.8 23.0 24.5 26.2 12.3 22.8

Median Home Prices
Thousands of Dollars
Existing Home Prices9 181.4170.9166.5189.9190.1179.4 174.1182.8
New Home Prices 2 226.6229.5239.2241.0240.7241.9 230.8240.8

Percent Change — Yr
Existing Home Prices 7.2 5.3 5.2 5.0 4.8 5.0 4.8 5.0
New Home Prices 2.0 4.7 2.3 2.9 6.2 5.4 2.2 4.3

Housing Affordabilit1 95 198 198 160 157 162 169 185

Quarterly figures are seasonally adjusted annual rates; GDP 2011
Q2 is estimate, not actual. * Existing home sales of single-family homes
and condo/coops; ** billion dollars

Soure: National Association of Realtors.

** MNI Washington Bureau (202) 371-2121 **

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