Fannie Mae expects home sales to rise next year.............
I read a very interesting article by Christine Ricciardi from HousingWire.
It states that according to the Fannie Mae economics report, home sales are expected to decline by 8% for the year compared to 2009, and then increase by 3% in 2011.
It also showed that vacancy rates on rental properties are slowly declining, which is really good for investors.
I think all of the stimulus efforts are starting to make a difference.
Loving that news. I have thought that all along. 2011 it's gonna be a great year!
Ralph, interesting. Job numbers don't yet support this prediction. I always found it odd that people expected stimulus to be a silver bullet. Let's hope that the coming inflation doesn't derail it.
Ralph
I don't trust the semi government agencies to give us anything that is true on housing.
Ralph - A more robust housing market would be a great thing. Our biggest challenge is that there is not nearly the move up buyers in our local housing market. Back in the peak housing market most sellers became buyers when their home sold but in the current market there are far more sellers that once they sell do not replace their home and many are simply renting. This has placed a bit of a bottle neck on the mid range and upper valued homes in our market. Is this similar in your market?
Ralph -Let's just hope the government doesn't react too quickly once the housing market does show some sustained signs of recovery. I'm with Stacia - here's to a great 2011!
I feel better about 2011 than I did about any year between 2008-2010 !!!!!!!!!!!!!!!!
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