Housing to gradually improve in 2012, NAR economist says

Gradual improvement in the housing market is expected next year, with existing-home sales edging up 4% to 5% and new home sales getting an even bigger boost off this year’s record lows, the chief.

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Zandi says that further home-price declines nationwide will be limited to 3% to 5% and that 2012 will be the year that prices finally stabilize — setting the stage for gains in 2013.

NAR housing forecast: Look for a multi-year recovery Everyone knows that all real estate is local. As it turns out, so is the pace of the nation’s economic recovery. Nationally, the economy lost 8 million jobs during The Great Recession. Since 2010, it has gained 12 million. Dr. Yun Certain states and cities are boom-ing, while others lag behind.

National resale value for all housing kinds neared $254,000 in December 2018, swelling by 3 percent from 2017, according to the National Association of Realtors. "Home prices are reaching all-time highs with each passing month," says Lawrance Yun, chief economist for NAR.

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Existing-home sales, which include recently purchased single family, townhomes, condominiums, and co-ops reached 4.65 million units in 2012, the highest volume since 2007 when it reached 5.03 million units. Demand remains strong despite a slight sales decrease in December, says NAR chief economist Lawrence Yun.

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Gross domestic product expanded at a 2.8 percent annual rate, the quickest pace since the third quarter of 2012, the commerce department. department suggested the jobs market continued to gradually.

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The housing market’s recovery will likely add to economic growth in 2012 for the first time in seven years. Home purchases, construction and prices are gradually but. rate of 4.47 million, the.

NAR Chief Economist Lawrence Yun says the extent of an expected recovery depends on better access to affordable loans. "Things are beginning to improve, but the availability of affordable.

Number of underwater homeowners grows: CoreLogic According to CoreLogic this week, nearly 950,000 U.S. homes returned to positive equity in the second quarter of 2014, bringing the total number. "Many homeowners across the country are seeing the.

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