Lawrence Yun, chief economist for NAR is predicting steady market recovery in the second half of 2008, according to a recent speech he gave during NAR's Midyear Legislative Meetings & Trade Expo. Most of what he said, I felt, was stating the obvious, such as markets with the highest foreclosure rates having been the biggest hotbeds of subprime loan activity. Still, good news if he indeed is calling it accurately. Now, he's even going so far as to predict 20-30% price increases in some of the lesser hit markets like Cincinnati, Milwaukee and Kansas City, MO. However, where it gets really interesting is when he predicts increases of up to 50% in certain other markets like Miami, Las Vegas and Phoenix.
The entire article can be found here. I'm very curious as to what other Realtors think about this prognosis.
Comments(0)