Lawrence Yun, NAR senior economist, said the market is relatively soft. “Overall housing levels are historically strong, but sales remain sluggish compared to the recent boom,” he said. “Home sales will probably fluctuate in a narrow range in the short run, but gradually trend upward with improving activity by the end of the year. It’s important to keep in mind that all real estate is local, and many markets are expected to have higher sales and strengthening prices during the second half of this year.”The NAR is sounding like a broken record, constantly predicting that better times are just around the corner. Remember their chief economist calling the bottom at least four times. The National Association of Realtors (NAR) cannot and should not be trusted as they have lost their credibility. They are the representatives of the largest number of real estate agents. The housing declines are long and in most bubble markets we are not even two years from the peak. In most bubble markets one can expect further price declines for at least a couple of years.
Thursday, June 07, 2007
Realtors: Home Sales Projected to Fluctuate Narrowly With a Gradual Upturn
The National Association of Realtors (NAR) is once again predicting better times soon.
Posted by David at 12:36 PM