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A full housing recovery in three years?

March 28, 2012 12:45PM

It could take three years for a full recovery of the United States housing market, according to a report by “We still have a long way to go,” said Jed Kolko, chief economist at Trulia. The numbers show that construction starts were 22 percent of the way back from their April 2009 low, the Sun Sentinel reported. Existing home sales were 47 percent of the way back in February from their low in November 2008. By the firm’s calculations, the national real estate market as a whole was 16 percent of the way back to normal last year, and is projected to reach 100 percent in late 2015. “Kids, sit tight,” he said. “It’s going to be a while.” [Sun Sentinel]