A modest recovery for existing-home sales is expected in 2008
Texas Real Estate News
A modest recovery for existing-home sales is expected in 2008 as the impact of the credit crunch subsides, while pending home sales indicate near-term stability. Lawrence Yun, NAR chief economist, said the housing market will improve from a steady unleashing of pent-up demand and from a wide abundance of safer mortgage products. “Even with relatively low fourth quarter sales, 2007 will be the fifth highest year on record for existing–homes sales. The median existing-home price in 2007 has fallen by less than 2 percent from the all-time high set in 2006,” Yun said.
Source: National Association of Realtors
Date: Monday, March, 3rd 2008 @ 09:18:07 AM Views: 263
Be the First to Comment on this Post!.
Categories
Links
My Blog
