Monday, December 10, 2007

Trade group lifts outlook for 2008 home sales,
insists US housing market is stabilizing
WASHINGTON (AP) -- Bucking conventional wisdom, a trade group for real-estate agents on Monday said the battered housing market is on the verge of stabilizing and inched-up its outlook for 2007 and 2008 home sales.
The revised monthly forecast from the National Association of Realtors, which followed nine straight months of downward revisions, calls for U.S. existing home sales to fall 12.5 percent this year to 5.67 million -- the lowest level since 2002. Last month, the association predicted 5.66 million existing homes would be sold this year, down from 6.48 million last year.
The Realtors' group also forecast sales will rise slightly in 2008 to 5.7 million, up from last month's prediction of 5.69 million.

1 comment:

mark said...

Real Estate is like the elevator business, it has its ups and downs. This is a great real estate blog. I hope that you will keep it going. Hey, did you hear that Donald Trump is going to have all celebrities on his show next season. WOW!

God Bless!

Elmo
Real Estate Professional