Mark Zandi of Moody’s says the recent strength in housing data is almost entirely due to seasonal factors and government intervention. Zandi added that housing data is likely to dip again after the April data is released.
Mark Zandi, chief economist and co-founder of Moody's Economy.com, talks with Bloomberg's Lori Rothman about the outlook for the U.S. housing market. Sales of new homes surged 27 percent in March, the biggest gain in 47 years, as buyers rushed to qualify for a government tax credit and the weather improved. (Source: Bloomberg)
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