Forecasters reading the economic tea leaves believe the housing market should be well balanced in 2001, with demand not quite as raging as it has been in past years and supply adequate to meet needs.

While the stock markets have been on a roller coaster for the past few years, housing has been relatively stable. In 2000, about 4.99 million existing homes were sold. Forecasters project that number will be down somewhat this year to about 4.94 million. There were 892,000 new homes sold last year and there will likely be about 861,000 sold this year.

Most number crunchers are predicting a "soft landing" as the economy slows from 10 years of expansion. That expansion has left a solid percent of the population with cash onhand, and forecasters believe a large part of that will find its way into the second homes and vacation home markets.

The overall median existing home price in 2000 was $138,000 and the typical new home sold for $166,300. In 2001, the median existing home price is expected to reach $146,500 and new homes should go up to $175,700.

Builders to show tornado "safe room"

At this year's Home Builder's show in Atlanta the Portland Cement Association will be building a home featuring a tornado "safe room."

Builders would like to see such "safe rooms" -- which an withstand winds well above 100 mph -- made standard in new homes built in areas prone to windstorms.

The show is Feb. 9-12.

Pennsylvania people with disabilities to receive housing help

The Pennsylvania Housing Finance Agency is implementing a new program by which older and disabled residents who need more livable homes may receive up to $25,000 to help fund improvements.

If the program is a success, it could go nationwide.

Under the program, homebuyers who have disabilities or who have family members with disabilities living in their households may receive as much as $15,000 in down payment and closing cost assistance if they earn less than $38,000 a year.

They also may receive up to $10,000 to pay for modifications that will make their homes barrier free.

Favorable rates expected in 2001

Interest rates are currently as favorable to homebuyers as they have been for the past 18 months, but many experts are predicting rates will drop a little bit more.

By the end of 2000, mortgage rates had dropped to 7.42 percent, well off mid-year highs of about 8.5 percent.

Economists are predicting there will be additional rate cuts by the Fed in early 2001 which could push rates down to close to 7 percent by mid-2001.

Poster contest for neighborhood schools

The National Trust for Historic Preservation is sponsoring a national poster contest to show the importance of neighborhood schools.

Schools featured in the posters should be at least 50 years old, although exceptions can be made to the age guideline. They should have architectural merit, serve as community anchors and be currently in use as educational facilities.

The contest is open to open to non-profit groups, schools, school districts and state and local governments involved in promoting the continued use of older and historic neighborhood schools as educational facilities.