The State of the Nation's Housing 2002

Harvard Joint Center for Housing Studies

With the economy emerging from its first recession in nearly a decade, the housing sector continues to display remarkable resilience. Even after the events of September 11th threatened to deepen the downturn, rock-solid home prices and historically low mortgage interest rates helped consumers keep faith in the housing sector. As a result, not only home sales and production but also home improvement spending climbed to record-setting levels by year-end.