The nation’s housing industry and the economy have just about seen the worst of the painful downturn that greatly intensified since last September’s turmoil in the financial markets, according to economists speaking at NAHB’s recent Construction Forecast Conference. And despite a continuation of rising unemployment well into next year, although at a slowing pace, housing in this year’s second half is expected to begin gradually leading the economy to higher ground, they said. “There’s a lot of skepticism out there. This is a very deep hole we’re in,” acknowledged NAHB Chief Economist David Crowe. But he said there are several reasons to believe that “the housing recession is nearing an end and housing will return on a very slow basis.” Crowe said that new single-family home sales probably reached their trough in the first quarter of this year, hitting a record low of 320,000 on a seasonally adjusted annual basis, down from about 1.2 million at their peak. Contact OrlandoMortgageCentral.com to learn how you can buy a newhome at a great price in the down market. Contact us today.