Americans still confident about house prices

That optimism is one finding of a recent survey by the National Association of Home Builders. In the findings released Nov. 13, nearly 70 percent of the 2,000 households polled said they considered their homes their most valuable investments.

“The poll clearly debunks the more sensational media reports speculating on the demise of the housing market,” said David Pressly, president of the National Association of Home Builders, in a news release.

Only 13 percent of respondents said they expect their homes’ values to decrease, while 4 percent expected no change and 3 percent were unsure.

NAHB said the housing market is poised for solid and sustained growth in the future.

“We are in the midst of an inevitable adjustment following the housing boom of 2004-2005, when housing market activity soared to unsustainable levels,” said NAHB Chief Economist David Seiders in the release. “Housing demand should stabilize in short order and the downward adjustment to housing production should run its course by mid-2007. The market that emerges from this correction will display good balance between supply and demand and move to a healthy and sustainable trend based on solid underlying fundamentals.”