In a recent press release, Lawrence Yun, NAR chief economist, said the market will come into clearer focus this summer. "Existing home sales could start to show a sustained increase within a few months, unless there are some additional economic problems or excessive inflationary pressure," he said. "We're looking for essentially stable sales in the near term, before higher mortgage loan limits translate into more sales in high-cost markets. The wider access to affordable credit should increase sales activity notably this summer as pent-up demand begins to be met."
What does that mean to us? We will know when we have hit bottom and are in that upturn by looking back. I hope that as we all look back and breathe that collective sigh of releif, that there were no lost opportunities. This has been a market that has educated us, and caused us to look closely at how we do business.
Heres to some good news!
Karie
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