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National Association of Home Builders expect big recovery in 2011

Housing experts are hopeful about the 2011 market.

Housing experts are hopeful about the 2011 market.

The calendar may still read "January 2011" but economists predict the upcoming year will be a banner one for the moving and building business.

The bold prediction came last Friday in Orlando, Florida, where economists met at the annual International Builders Show, which is sponsored by the National Association of Home Builders.

"This year's spring selling season will be better than last year's," said David Crowe, chief economist at the NAHB, pointing to job growth as the catalyst for the expected rise. Crowe says the 2 percent cut in Social Security taxes enacted by Congress last month will help as well, resulting in more discretionary spending.

As far as what homes will be built and what homes families will move into, Crowe expects to see a 21 percent rise in single-family homes compared to 2010 and a 16 percent rise in multi-family homes.

Crowe acknowledged the continued fall in housing values, but even there, Crowe believes the market will have reached bottom by June.

Earlier this month, a housing index report found that home values across the nation are at their lowest levels on record.