Though there is currently downward momentum" in the housing market right now, the downswing is poised to move back up again in 2008, economists at a recent National Association of Home Builders forecast conference said.

The economists gave these reasons:

• The overall economy and job growth continue to move ahead at a decent pace;
• Core inflation is under control;
• The late-summer credit crunch in mortage markets is easing; and
• And the supply-demand equation will balance out as builders "whittle down" excess inventory.

"Home sales should bottom out by …