Merrill Lynch Trims Housing Forecast 6% to 1.03 Million Units

From Michelle Meyer at Merrill Lynch:

"We have all been waiting for the weather to unleash stronger economic activity, particularly for the housing market. However, the housing data so far have been less than encouraging. We think it will be challenging to realize average housing starts of 1.1 million this year and are therefore trimming our forecast to 1.03 million. Our trajectory through year end is still up, with starts rising 11% from last year, but the rebound is more muted."

(more on Merrill Lynch's trim of 20214 housing forecast . . . )