Lawrence Yun, chief economist for the National Association of Realtors, gave positive comments at the NAR annual convention in Anaheim, California.  He expects existing home sales to increase 4 to 5%.  He believes new home sales will increase even more.

Yun cites the pent up demand based on population growth as one of the reasons for his predictions for 2012.  He also predicts a slight decline in the unemployment rate.  Consumer confidence and decreasing unemployment rates are the real key to increasing real estate sales.  The news continues to bang away at the negatives and the glass being half empty side of real estate.

Favorable interests should help real estate sales.  Rates should stay in the 4+ interest rate range in 2012.  The Fed guaranteed no rate increase for two years.  It is necessary for real estate to become healthy.  As goes real estate so goes the economy.

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8 Comments on NAR - HOUSING TO IMPROVE IN 2012

NOV
18
2011
496,257 Points 29 Featured Posts Outside Blog Called Shot Master

Fear is the main reason for the built up demand. We need to assist all prospective buyers with the concernes that they have when it comes to home ownership.
8:19am • #1
1,393,610 Points 28 Featured Posts Hit Router Called Shot Master

Conrad, with all due respect to the esteemed Mr. Yun, I've heard him tell this story for a number of years now.  As well as his predecessor.  I hope he's right, we'll see.
8:28am • #2
681,129 Points 51 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Conrad, we're seeing some improvement but 4-5% is a drop in the bucket when we're down as far as we are!
5:08pm • #3
NOV
19
2011
670,714 Points 8 Featured Posts Outside Blog Hit Router Called Shot Master

We'll see and I hope he's right
5:17am • #4
650,443 Points 69 Featured Posts Outside Blog Attended Rain Camp

Fear is a paralyzing force Right Trac.

Me too Gabe.

It is Connie but we have to start somewhere.

Fingers crossed James.
6:29am • #5
760,727 Points 37 Featured Posts Outside Blog Called Shot Master

Conrad ....great news ....if there were only more positive news out there things would automatically start to improve .....Thanks!
6:57am • #6
527,831 Points 54 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Conrad - thanks for pushing out the good news sent out by NAR.  We all must keep promoting the good news each day.  
7:51am • #7
650,443 Points 69 Featured Posts Outside Blog Attended Rain Camp

It is all perception Barbara & Rob.  85%+ of the people are still working.
1:17pm • #8


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